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 Replies: 90 / Views: 7,576 |
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Valued Member
United States
141 Posts |
I want to speculate a little, the price went up 1.30 today to 31.74 per ounce of silver. When does silver stop? Does it ever go back to the 28$ per oz. anytime soon? or have we crossed a new threshold? are we on a fast track to 35$? and then 40$? (when I expect a lot of people to sell). If it does not go up, when do you think it goes down and to how much? My opinion/guess, we see 33$ silver as soon as 3-4 weeks. But from a collectors perspective, I would like to see some low prices  |
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Valued Member
Australia
145 Posts |
Hard to say, but you'd think this is the big one we've been waiting for, and I'm sure we will see high 35's by start of october,
lets hope, I think I better do a stock take
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Valued Member
 United States
141 Posts |
33.70 silver 1 week later. :OOOO
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Pillar of the Community
United States
863 Posts |
yea already over 33. no need to wait 3 weeks for $33 silver. cant believe how fast it happened. must be the election, and everyone back from summer
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Pillar of the Community
United States
648 Posts |
I have a feeling the future price of silver will correct according to SLV in relation to the RSI. This is what I see on the charts. If you don't know what RSI is, it's basically a "gauge". More below. A trader using RSI should be aware that large surges and drops in the price of an asset will affect the RSI by creating false buy or sell signals. The RSI ranges from 0 to 100. An asset is deemed to be overbought once the RSI approaches the 70 level, meaning that it may be getting overvalued and is a good candidate for a pullback. Likewise, if the RSI approaches 30, it is an indication that the asset may be getting oversold and therefore likely to become undervalued.
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Pillar of the Community
United States
863 Posts |
Well according to that we should have a sell off soon
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Pillar of the Community
United States
4008 Posts |
Quote:
Well according to that we should have a sell off soon Yes, assuming that the past is a good gauge of the future. It can be but there is no guarantee of that. What one could do, though, is to buy and sell in increments in case the chart signals don't pan out. Use it as a guide and not as an absolute. Personally, I would love to see a significant pull-back that challenges the old $26+ lows. Unfortunately, that does not seem likely to me. If we do get a pull-back, it more likely would be around the $30 price. At that point, a lot of buyers would come in and support the price, IMO. |
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Valued Member
United States
376 Posts |
I would like to see it hit $40. This is the highest I've personally seen silver. As I started collecting only 3-4 months ago. Seeing it hit $40 would be awesome. I would sell a little bit.
Then hopefully come next spring it will drop again but. We'll see.
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Bedrock of the Community
United States
36839 Posts |
IMO silver will continue to go up over the years due to less mining and more usage in industry. It is highly manipulated right now by banks using unbacked short selling to hold prices down, but that could change and silver could move up to it's true value. I do not see $200-500 an ounce out of reach in the next 10 to 15 years.
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Pillar of the Community
United States
667 Posts |
As a part of a good silver strategy you should still be buying silver. Waiting and buying it all at a set price you have in your head is not a great idea.
Flipping or profit takers play a higher game of speculation. Though it can be rewarding, 200 ounces bought a few weeks back just made you some money if you sold today. But so you sell or do you speculate on the $40 mark?
When I started buying silver at $6 I heard the same argument that people should sell at $9 or $10. And believe me lot of the people sold back then and are still wishing they had done things differently. Sell some if you need to, don't speculate with money that you need today and don't fool yourself into thinking silver is an investment - it is not.
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Bedrock of the Community
United States
10982 Posts |
Impending QE3 is responsible for much of the gain over the last few days. $35 should happen by late next week.
Where it goes from there is anybodys guess. Some people see the 2012 Fall season as similar to Fall 2008 when silver dropped to under $10/oz. I don't, but it could happen.
The Fed has shown they will destroy the USD before they allow the economy to collapse. That bodes well for silver returning to $40 before spring arrives.
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Pillar of the Community
United States
4008 Posts |
Quote:
Sell some if you need to, don't speculate with money that you need today and don't fool yourself into thinking silver is an investment - it is not. Good advice but I disagree that silver is not an investment. Anything I can buy now, hold for at least a year, and sell later to make money IS an investment! lol The thing about silver is that it is volatile, so it is still a long-term investment, even if it is also a short-term speculation. My home is also an investment but not because I want to flip it every 6-8 months. If I was flipping houses, they would be speculations too. We all have our own definitions of what is what. For me, it is the length of time that an investment is held that separates the investments from the speculations. Others will have different thoughts on this and that is fine. Quote:
The Fed has shown they will destroy the USD before they allow the economy to collapse. Unfortunately for this approach, the US dollar and economy are linked to each other. If the dollar collapses, the economy will not be far behind.  |
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Valued Member
United States
376 Posts |
I agree with you ed. As silver definitely in my opinion is an investment.
Im not as educated on the government in terms of the economy and how silver and gold prices even work, but I can tell you one thing; I'd rather continue stacking silver than stacking US bills under my bed.
Shoot. Its almost a safe bet to pull my 401! But I dont think I will be any time soon lol
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Bedrock of the Community
13014 Posts |
Quote:
The thing about silver is that it is volatile, so it is still a long-term investment, even if it is also a short-term speculation. I agree. I think some people think of investments as safer bets with bigger potential gains. I dont think silver should be a large part of the portfolio but having a percentage of it is wise. It doesn't have the same potential currently as some stocks to for huge gains, but as part of that trade off it also doesn't carry the same risk of one day being worth a penny or nothing at all so it is a good hedge to make sure even if youre the worst investor of all time you will always have something left |
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Valued Member
United States
376 Posts |
Hit it right on the head basebal
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Pillar of the Community
Canada
815 Posts |
Odd thing is, my dealer has had everyone buying now that it's rising, and everyone was selling when it was at 27-ish.
It's all bandwagoners, I think. Personally, I bought like crazy when it was at 27, and now that it's up, I am switching to Gold, since a small increased purchase price now will be made up for in no time, as opposed to silver.
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Replies: 90 / Views: 7,576 |
Posted 09/07/2012 10:55 pm
