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 Replies: 18 / Views: 3,029 |
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Pillar of the Community
United States
931 Posts |
Still above $1600. I call that a win in this market. Short action is bound to be huge on Monday though. It would be great to crush the shorts, but there is plenty of FEAR involved here. If we go to $1000 I'm buying gold faucets like Trump.
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Valued Member
United States
304 Posts |
If I had the capital I would start buying a little at $30, and pick up steam the lower it goes.
Ag obviously.
Edited by bjones
09/23/2011 5:22 pm
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Pillar of the Community
United States
1150 Posts |
People are wanting cash, but why?
With the threat of a Greek default, folks want cash so they can get out of dodge if need be, buy food and other investments.
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Valued Member
United States
302 Posts |
Quote:
People are wanting cash, but why? Margin calls, plain and simple. If you bought stocks or commodities on margin (OPM) and they go against you, you MUST provide MORE cash to the broker OR liquidate at a loss which also requires more cash. You have no choice. The broker WILL liquidate ANYTHING in your account if you don't provide the cash. Anything includes silver and gold. And if you have physical PMs, but no cash to cover the calls, you will "VOLUNTARILY" sell them to cover your obligations. In 1997 I saw several investors liquidate their paid-for homes to meet margin calls. They had nothing else of value to cover the $100,000 margin calls. This is one of the main reasons PMs tend to crash at the same time stocks crash even though the fundamentals of the PMs would dictate otherwise. Quote:
If I had the capital I would start buying a little at $30, and pick up steam the lower it goes.
Ag obviously. After today's drop I am seriously thinking about starting to buy in as silver legs down. Not sure I have enough capital yet to leg in properly though. Edited by mmerlinn
09/24/2011 02:22 am
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Pillar of the Community
United States
4008 Posts |
Quote:
After today's drop I am seriously thinking about starting to buy in as silver legs down. Not sure I have enough capital yet to leg in properly though. I'm thinking that this is an excellent buying opportunity. If so, then it will be better to DO SOMETHING even if it is not perfectly executed. Even if it turns out that you could have made more money via a change in your strategy, the important aspect is to invest what you can when the opportunities present themselves. Never let the perfect be the enemy of the good. Good really is good enough.  |
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Valued Member
United States
228 Posts |
I agree with the previous posters. Now, (Monday) is an excellent time to buy silver. I would buy the physical. I would just avoid the leveraged ETF transactions.
Watch $27 per ounce, if it stabilizes, above that number, even short term, money in silver will be profitable very quickly. If the powers that be can somehow force it BELOW $27, I'd hold off until, it bottoms, and starts to move up again.
Not even nitroglycerin is as volatile as the silver markets!
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Valued Member
United States
53 Posts |
Gold and Silver went ballistic to open the Eastern Mkts this evening. Wow, What will happen?
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Pillar of the Community
United States
4008 Posts |
Quote:
Not even nitroglycerin is as volatile as the silver markets! Actually, nitroglycerin is an oily liquid that does not evaporate very quickly at all. It DOES go BOOM!, though, if not handled carefully. |
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Pillar of the Community
United States
830 Posts |
Edited by GoThunder
09/26/2011 10:55 pm
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Valued Member
United States
493 Posts |
IF your buying silver on ebay right now, it's going for $37/oz. shipped on most auctions, still a bit pricey for me. I guess, when you look back, not to long ago where we were paying $10-20 oz. it seems high. If I could find silver for anything close to spot prices I'd probably pick some up, but these metals are getting like the housing market, always a premium, someone has got to make something off of it somehow, and if you want to hold that coin in your hand by golly your going to pay extra for it. |
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Pillar of the Community
1028 Posts |
I still think the book is still open on very short term silver. It's up a bit today, but not as much as some people predicted. Some think it's gonna fly right back to 40. Others, me included, are thinking it will drop back down to the high 20's, who knows.
As far as selling it (or trading it), I'm gonna have some BU silver washingtons (common date) for trade once I hit 250 posts regardless of where the price of silver is. Look out everybody :)
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Pillar of the Community
United States
1554 Posts |
Better buy quick as Silver will be going up as quick as it went down...$40 by this Friday?,,,Maybe $50 or $60 by November..The East Coast freakies needed a cash fix last weekend, they were suffering a serious Jones...
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Pillar of the Community
United States
3294 Posts |
What is the saying, if you throw it hard enough, a dead cat will bounce? Not to harp on silver, but I don't think we have seen the bottom yet. I feel this is a short term rally and that a general downward trend will resume. The issues that caused it to drop from the 40s into the 20s are still there.
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Pillar of the Community
United States
830 Posts |
I agree Nod, the higher it goes today the more puts I'll buy.
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Valued Member
United States
397 Posts |
I'm seeing some small lots on ebay priced at $44+ per ounce.... |
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Replies: 18 / Views: 3,029 |
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Posted 09/23/2011 5:19 pm
and bought SLV puts to hedge my physical silver. Hoping to buy the SLV back lower. I do also have some way out of the money call options in SLV for a straddle.
