The effects of the margin call-induced, forced liquidation are still playing out and should be winding down soon. Let's see if it can hold up to any further significant drops between now and tomorrow afternoon.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
Up to $86.50 at 3am est. Looking positive for the 2/3 session.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
Shanghai push. New high $87.85 on COMEX last night, baby steps but in the right direction at least Get above and hold $87 will be a key in deciding which direction.
I'm reminded of an old Mad TV skit about a dating site for losers called "Lowered Expectations":
SK8GGm3KlAY
Which is to say that I have now lowered my expectations for silver and am perfectly happy to see it hovering around $90. Seeing it get close to $120 was exciting and all, but seeing as how I purchased most of my silver when it was at or below $20 I really shouldn't be too greedy...
"Lowered Expectations" yeah that dump was a real "Downer", pun intended. But we're not gonna let them get us down and take all the fun out of it.
I haven't sold any metal in 2 years, back when silver was chipping away at $26... And I still own at over a couple hundred ounces in numismatc alone, not counting bullion and jewelry. My cost "average" for the silver is also at or well below $20 an oz and the gold was all accumulated roughly between $600 and $1500 an oz. So I'm still grinning like a fat cat
And I have no plans on selling any of it, anytime soon, outside of a financial crisis or emergency. Doesn't matter if it's $120 or $50.
Right now all I'm trading is paper, because I'm fortunate enough to have a little play money to gamble with, and because it's fun. If I lose a little no biggie, if I make money, whoopie.. But whatever you're buying, selling, holding, it's No worse than betting on the football game, as long as it's done wisely and not foolishly.
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Posted 02/02/2026 4:28 pm
Get above and hold $87 will be a key in deciding which direction.
who said silver was Dead ?
