Panic Selling Or Panic Buying?

I guess I really don't panic buy or sell. I may have purchased over this past 'dip' but with premiums so high, I didn't. About the only thing I did buy was the Chaco Culture 5oz when it dropped to 179 but not on a panic, I just thought a fair price in comparsion to what they did cost and I put them away for 2 birthday gifts next month. It seems the junk silver is at about $20/$1 face now even with spot being so low and I just can't bring myself to pay that much. I know some say (and I am starting to buy into it) that paper PMs are affecting the spot and true physical PMs are valued higher (thus high premiums) and worth buying. I just can't do it right now.

And silver seems to be dropping again. It reminds me of that Sunday night in May 2011 when silver started to crash after the rally to the high $40s

All I know is every time people rush to buy an asset that falls hard on price, and use expressions such as "buy when theres blood in the streets" and "be greedy when others are fearful", and dont first understand WHY its falling and just buy, they end up being smoked. In this case, as is typical and has been voiced many times, buying and hoping that it will come back is wrong and we can see the impact tonight.

So I mean, if you loved silver and gold on the last crash from a couple weeks ago, surely you must love it here and therefore you would want to back up the truck, right?

Watch premiums though NC. I noticed SGBull upped their premiums by 50 cents. Not a lot of difference in the price of Maples, really...

"The equity markets are way over-bought right now too." and saying PMS are "oversold" ..

1- no such thing as "oversold" and "overbought" for starters,

2- its obvious that the run in PMs is done and over with. sometimes reality is hard to accept but the facts all support this. Many folks who have stacked are going to be waiting a long time IMO.

I did a poll last April asking people to predict the price of silver in 2012. The vast majority choose in the range of $35-45 an ounce. I believe the price at the time was around $33. I choose well below that, I think around $22. I was off by a month but it turns out I got pretty close. Did I come up with that amount by research and deductive reasoning? Nope. Plain old wishful thinking. For my next wish, I'm calling for $15 an ounce by this time next year, hopefully falling to the high teens as early as this summer. I see no reason why it won't happen. But time will tell.

He may not have said it in the nicest way but hes right.

Oversold means that its value is below where its real value lies, we know 100 percent that is not the case for silver. The only way you can say that is if your saying the spike thats been working its way down for 2 years is its true value, its not. Silver has never had that value except for short periods of time during uncertain economic times. Its true value is somewhere in the 5-10 dollar range where it sits for decades at a time until the next uncertainty.

A new sort term higher value does not set a new true value for something. It hasnt even been holding that value as its gone from 50 to high 40s to mid 40s stepping its way back down since the end of 2011. There are no fundamentals of silver that we can look at and say this is what it should be trading for, it doesn't have profit margins or gross income ect.

If anything it resembles more of a pump and dump stock than anything. Will it go back up again at some point yes almost certainly it will spike again, but all time highs dont set a new fundamental value