Near Future Of Silver

Well said Ed, I hope I can get my wife to read your post. She's only been invested in SLV for about 3 weeks, has made close to $2000 in it and is ready to sell it lol.

Thanks, Thunder. I appreciate the appreciation!

As to SLV... please protect yourself on the downside by putting in a trailing stop about $3 below the current price of silver. I don't own any SLV and assume that it tracks the silver price. If not, then adjust this advice accordingly. If you haven't used a trailing stop, they can work very well if you set the stop price outside of the average volatility of the item on which the stop is set. At best, SLV will advance and the trailing stop will follow it up. If the price declines, then the trailing stop will be activated, selling SLV and locking in the bulk of the profit. Trailing stops can work very well but they are not perfect. They do offer some very good down side protection, though.



Sweet! Maybe we should ask the mods here to start up an "Old Guy" forum where we can pontificate and dispense wisdom and knowledge to the whippersnappers?

My wife already refers to me as "Old Poop" from time to time. Lovingly, of course.

I remember listening to The Lone Ranger radio show in 1955. We didn't get a TV until 1958. It was a thing about the size of a small refrigerator that had a round picture tube that was covered at the top and bottom of the bezel. That made it look sort of rectangular. Black and while only, of course, and a single 4" speaker. Had to use rabbit ears in town or an antenna on a mast out in the country in order to receive anything. There were usually 2-3 channels in most towns back in the late 1950s. I suppose that the big cities had more than that but we lived in small to medium sized towns. At mid-night, the stations would sign off with the national anthem playing and a large US flag waving. After that there would be a very obnoxious BEEEEEEEP sound and then a test pattern. Ah, the good old days.



I agree. I am continually amazed at the number of people there are who want a job but who do not want work. Lots of folks today hate business but love "jobs". Just where do they think "jobs" come from? Yes, one can work for the government but that does not add anything to the economy because government does not produce wealth. Only business creates wealth and most of the jobs. Our problem today is that business has been licensed, taxed, and regulated to death. It is now comatose and largely due to the above. Regulators never ever wonder if there are too many regs. They just continue to create more and more of them. Well, congrats to them. They have finally succeeded in killing the goose that laid the golden eggs. How's that working out for everybody?

Nope, sorry. Got to have the mileage as well as the wear and tear.



That was a pretty isolated event. I would not let that dissuade me from using a very handy tool that works well in the vast number of cases. Failing that, you can always stay glued to a web site that shows the SLV price so you can sell manually, if need be.

A few months later it turns out the near future of silver has been dangerously bearish, with the worst one-day drop today since 1984. Unbelievable.

Whippersnapper here trying to get his hands on some Silver during this drop. Any suggestions! I could use some Old Poop advice! :)

I would think so! They will be lined up for that smooch from Pompano Beach to Pismo Beach and from Corpus Christi to Nome.



OK, no problem.

Best advice I can give you is to develop a good solid relationship with a local coin or pawn shop that sells gold and silver bullion coins and bars. If you are more isolated than that and have no local guys, go for the on-line retailers. I have bought from SilverTowne, Provident Metals, and APMEX, all with good results.

2nd best advice is to buy in relatively small amounts on a regular basis. If you are a long-term PM holder this kind of dollar cost averaging into your position should work quite well.

If you like a dash of "Banzai!" in your PM collecting, you can always save your money for a "buying opportunity", which is usually a 10-15% price pull-back in the PM markets and then buy a larger amount than you normally would.

While I try to buy a few ounces of silver monthly, I also buy in larger amounts when the prices pull back. I just bought 200 ozs. in this most recent pull-back and will buy more if the price continues to dip. If it starts going back up, then I will go back to the few ozs. here and there buying pattern.