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Valued Member
United States
314 Posts |
Thanks Hawk. I usually go by Kitco, and they're showing flatline.
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Pillar of the Community
United States
4008 Posts |
Quote:
A local shop only offered me $20 for a .999 fine one ounce round today, I won't be back. - Muddler
Obviously we all know better, however it makes me sick to think of these people preying on the un-informed. - MitchHailey
Yes, that is pretty disgusting. I would be tempted to lay a silver dime on the counter and say, "Sir, I would like to buy one of those pre-1964 Washingtons in the case there". When the crook says that it costs more to buy that, I reply with, "Yes, but that is the same deal you just offered me."  Don't worry about the scamers out there. They pull their tricks a few times and then, thanks to the Internet, EVERYONE out there will know to avoid them. They deserve much worse, of course, but it is a start. |
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Pillar of the Community
United States
4008 Posts |
Quote:
I don't see any way the dollar situation is going to improve. They are probably going to pull a 2 for 1 split knowing these financial Wiz Kids we have running the show for us. I believe a new currency, possibly the Amero, is going to replace our new counterfeit greenback. Sad times are on the horizon. Good times ahead for we metalheads. - Junior E I wonder if these so-called "whiz kids" are the very same morons who came up with credit default swaps, multi-layered derivatives, and other cute things for the banking system? Probably.  Sad times are indeed on the horizon and coming towards us like a run-away freight train. Makes me wonder whether or not Bernanke and Co. have any real plan to stabilize the dollar via removing liquidity from the US markets. So far, not that I can see any sign of. The Fed has an abysmal record of spotting bubbles or increasing / decreasing interest rates at a time appropriate to stabilize the market, prevent bubbles from forming, or deflating them gradually when they do form. In point of fact, there is no evidence of any kind that the Fed's interference in the markets has done one whit of good... ever. With friends like this, we do not need any enemies.  Have to agree that having some PMs will be a huge benefit for those of us with the foresight to collect them. I used to drink the "king dollar" cool-aid, along with millions of my countrymen, but no longer! The game is rigged... and there is treachery of the foulest kind afoot! |
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Valued Member
United Kingdom
497 Posts |
Long term economic and political factors aside - Silver is headed for a correction in the short - medium term. Its rate of growth is simply un-supportible; its RSI (relitive strength Index) is at 89, the highest in 24 years - suggesting it has been massively overbought. The market of silver put options has rocketed - Overall, I really wouldn't be shocked if silver made a small plummet in the short term. While the underlying fear factors remain, as they probably will for the rest of 2011 and perhaps beyond - theres little doubt that it will finish up significantly higher over the year, perhaps even gradually stabilising above the $50 mark - but not before a major correction.
But who knows - the Eurozone bailouts might go as planned with no national bankruptcies, the Japanese recovery might stay on track and see less long term damage than feared, perhaps even higher interest rates in North America and Europe could tackle some of the inflation without comprimising economic growth critically - all these things are possible - but then any talk of a positive outlook really isn't fashonible right now is it
www.kingstoncoincompany.co.uk
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Pillar of the Community
United States
648 Posts |
I also believe a correction is due. However, when will that be? At 48? 50, 55 60? And when it corrects, will it drop around 48? 52? Or dare I say 30's? If the RSI is indicating silver is being over bought does it really surprise anyone? I just wonder how long the over-buying will continue, that's the real question. Either way, I'll welcome it with open arms to average down on my collection - that's fine with me. I look at it as a sale on PM's that I can afford to hold onto for an additional 35 years. (Only if I am blessed with that life span). Good luck to all.
Edited by tripncoins
04/23/2011 08:57 am
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Pillar of the Community
United States
4008 Posts |
Quote:
...but then any talk of a positive outlook really isn't fashionable right now is it
Fashion has little to do with the current financial situation that has led directly to rapid increases in the prices of all commodities, including the PMs. Government and Fed incompetence, however, have a great deal to do with it. Should these entities suddenly start showing even minimal signs of intelligence or competence, I will be among the 1st to trumpet their reversal... and sell my silver. Until that point, though, adding more to it is on the "to do" schedule. |
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Pillar of the Community
United States
3670 Posts |
Fashion= never wearing black socks, bermuda shorts, sandals and a turtleneck while mowing  .... US GOV an economy with no signs of change=  which means.... PM growth=  .... Edited by Silverhawk74
04/24/2011 12:09 am
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Valued Member
United States
314 Posts |
Who would mow with that kind of an outfit on? That's more for a night out on the town!
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Pillar of the Community
United States
3670 Posts |
Don't forget the 1 pound silver gold plated medallion of your choice on a 14k rope chain, worn outside the turtleneck of course  .... Edited by Silverhawk74
04/24/2011 12:30 am
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Pillar of the Community
United States
4008 Posts |
Quote:
Fashion= never wearing black socks, bermuda shorts, sandals and a turtleneck while mowing Hey, I don't even have any black socks, so I guess I am spared this?  |
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Valued Member
United Kingdom
497 Posts |
Ok ok so poor choice of word with the 'fashion' there :-p! All I meant was, while not denying for a moment the incompetence and huge negatives that do truly exist, everyone seems to have come completely preoccupied with focusing on all the negatives, and just gloss over any positive developments or possibilities, which adds adds gasoline to the fire, pushing up the parabolic climb of the prices which couldn't be sustained. Anyway - Monday saw a new record on silver put options, after coming just 18 cents from the all important psychological $50 - and dropped to below $46, now just above. On a related note - I found a weird positive effect of buying silver coins over the weekend. Because of the high bullion price, I managed to buy 22 near 1oz Chinese and Hong Kong Trade dollar coins in high grades with significant numismatic premiums for just a little over bullion - the dealer seemed to be happy to follow the silver price and temporarily put less importance of the numismatic value of the pieces. www.kingstoncoincompany.co.uk
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Valued Member
United States
314 Posts |
I think it's a good sign just under $45 was met with heavy resistance. More signs of a $45 resistance shows this bull is still running, and what we just witnessed was profit taking.
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Pillar of the Community
United States
648 Posts |
I'm loving this correction.
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Pillar of the Community
Canada
834 Posts |
Loving this dip too
managed to locking in just over 1000oz of silver
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Pillar of the Community
United States
3670 Posts |
My girlfriend always tells me...."If you mess with bull, you get the horns!!"
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Replies: 28 / Views: 3,650 |
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Posted 04/23/2011 02:47 am
