I Am The Only One Buying Into This Slide? - Page 4

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Flook Valued Member United States 172 Posts	Posted 05/05/2011 3:53 pm Guesstimate is the perfect word....everyone has been GUESSING at silver prices everyday since FOREVER! no one has any clue haha everynow and then you will find someone who "knows" what will happen next, but as geardaddy mentioned.....if you bought higher you will only lose if you sell while its still down....keep your nerves straight and look past the fact that silver prices are dropping don't be like all those people that sold their stocks when the stock market plummeted in fear that they'd "lose it all"...everyone who sold at the bottom is kicking themselves because everything has slowly come back up.....keep buying pm's IMO Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 05/05/2011 8:46 pm Quote: What price do you guys think it will finally slow down at? I know it won't even be stable anytime soon, but are people expecting it to get down into the high $20's? low $20's? Any guesstimate? I am curious whare the slide will taper off at. I was watching a financial program on TV today and they interviewed a commodities investor. He seemed to think that silver would find some support at $33 and hard support at $28. I have no clue as to where silver will go, so will defer to those who follow the market for a living. Not that they are 100% right, of course, but whatever their guesstimate accuracy is will likely be closer to correct than my own. Either of these prices looks good to me. We may well see silver drop into the area between these prices before it heads back up. Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 05/05/2011 9:34 pm Silver has went back up 56 cents to 35 an some change and gold is back up to 1487, but I am afraid that we might be takin one step forward and two steps back since that Bin Laden news broke..... Tomorrow will be huge, whether it continues back up, or continues back down to 30 an oz., or further.... Report this Post to the Staff
hockingzig Pillar of the Community United States 1450 Posts	Posted 05/05/2011 9:54 pm As I have said numerous times here,this is a shakeout of the "casino" investors,those looking to make a quick buck and move on. The margin changes have made speculation more expensive so the quick money guys have sold. It may take several weeks to sop up the excess that was dumped but the bottom line is still the same,inflation is here to stay with current monetary policy and after the big sell off in stocks and talk of a double dip in real estate prices,don't look for the Fed to let off of the pedal anytime soon. I will admit,the rapidity of this drop spooked me a little but after hearing the ECB Chairman's comments I felt better. Worldwide the central banks will need to continue to prop up the system with cheap money and as long as that is true,PM's are the only place to be IMHO! Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 05/06/2011 4:41 pm Quote: Worldwide the central banks will need to continue to prop up the system with cheap money and as long as that is true,PM's are the only place to be IMHO! - Hockingzig They pretty much are stuck with inflating their fiat currencies these days, as there are no other politically acceptable alternatives available to them. Make no mistake here... central bankers ARE politicians and they will "go along to get along". Not since the Volcker days has there been a bull among the steers and cows in this herd. While inflation may seem to be working in the short term, it will be devastating in the long term. Perhaps when a guy is drowning, he is not concerned about maybe getting cancer? Be that as it may, I remain convinced that all fiat currencies do, indeed, devolve into their intrinsic worth at some point... which we all know to be as near zero as to not matter (bought any Zimbabwe currency lately?). History is quite clear on that, yet so many out there don't seem to have read that part of history. Report this Post to the Staff
DNA Pillar of the Community United States 2734 Posts	Posted 05/06/2011 9:42 pm Support @$35 kicked in. The good news about silver's drop is that the Mint resumed sales of the 2011 Silver Proof Sets. I bought several 2011 Silver Proof Quarter and Full Sets at the Denver Mint gift shop today. 2011 Silver Proof Set sales resume Edited by DNA 05/06/2011 9:44 pm Report this Post to the Staff
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