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 Replies: 75 / Views: 7,032 |
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Pillar of the Community
United States
520 Posts |
*** Moved by Staff to a more appropriate forum. ***Woke up this morning seeing how much silver has fallen lately! Time to load up before it shoots up again! WHEW..  
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Pillar of the Community
United States
4008 Posts |
Yes, that is one possibility. Another is that we are seeing a crown in prices where it only seems to be trending higher at the moment but is actually bouncing up and down for a bit as it searches for a new direction. It still could go lower before the end of 2011. If it does, then that is the time I will be making some additional buys.
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Valued Member
United States
257 Posts |
Too late rising all day today. Bottom for this particular blip was yesterday.
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Pillar of the Community
United States
2168 Posts |
Yes but still lower than it has been and a good buy.
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Valued Member
United States
53 Posts |
It should hit 25, I think
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Pillar of the Community
United States
3546 Posts |
Commodity trading is always a gamble but money can definitely be made if one's cards are played correctly.
A) In the case of metal prices one can bank upon the fact when the economy improves and inflation/interest rates rise these types of precious metals typically follow the trend upwards.
B) Precious metals also rise when fear and uncertainty prevail in the marketplace as evidenced by the exponential price increases over the past few years.
Looking at the current enmeshed economies of the USA and Europe, for example, it would appear that both A) and B) above are currently in full play with both economic environments poised to hopefully rise out of this dim economic environment to envision greener pastures.
I am a buyer now.
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Valued Member
United States
230 Posts |
If you were in Euro's would you convert them to dollars, gold or silver?
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Valued Member
United States
302 Posts |
Silver - Weekly since 2008  Gold - Weekly since 2008  Most likely scenario is for both silver and gold to trade within the noted lines until after the first of the year. Neither is likely to significantly drop below the uptrend lines until AFTER its red line is significantly penetrated. In 40+ years of watching the markets I have noticed that the typical scenario (about 90% of the time) is for metals markets to bottom out in last week of year, then rise to a high around Easter of the next year. Many prices often double before Easter, but I have even seen some rise 500% in selected markets. This is the time of the year I am always buying as much physical metal as I can afford, then processing it in anticipation of selling around Easter - oftentimes for double or more than I paid for it. Even though I really want to load up on silver now, I am finding that there are way too many bargains for me in the scrap market. So, I am buying scrap dirt cheap now and will be selling it next year when prices are much higher, possibly double or triple today's prices. I don't see that potential in PMs even at these bargain prices. That means that I will be buying PMs at their projected highs next year, but with fewer of today's dollars than if I bought PMs today. It also means that I can buy more oz then than I can now. For those that cannot do what I do, buying PMs now looks like a very good play with little downside risk. Loading up on PMs, especially silver, looks like a very good play to me. Of course, any "impossible" event could radically change this outlook overnight, so "loading the boat" with the risk of it sinking with you in it should prices keep going south might not be the best move to make. ********** As an aside, next year could be a watershed year in gold if history repeats. On 5 April 1933 FDR confiscated gold. That date is 1254 days after the crash on 29 October 1929. 1254 days after the 2008 crash is 31 March 2012. It may be a date to watch if gold resumes making record highs.
Edited by mmerlinn
12/17/2011 12:34 am
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Pillar of the Community
United States
3670 Posts |
"In 40+ years of watching the markets I have noticed that the typical scenario (about 90% of the time) is for metals markets to bottom out in last week of year, then rise to a high around Easter of the next year. Many prices often double before Easter, but I have even seen some rise 500% in selected markets.
This is the time of the year I am always buying as much physical metal as I can afford, then processing it in anticipation of selling around Easter - oftentimes for double or more than I paid for it."
My dad always says, find someone with experience at something like 40 plus years of chart trackin, and do what they do copy cat style, lol....
I too have put as much as possible into some silver going into the new year....
Interesting to note as well Mmerlinn that you are cleaning up on the dirt cheap junk silver....
Also, when you say watershed moment for gold, 1254 days post the crash dates, do you mean you think it will CLIMB rapidly or take a big HIT?
Edited by Silverhawk74
12/17/2011 03:39 am
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Moderator
 United States
16677 Posts |
Just purchased some "junk" silver U.S. quarters for $3 each. Will hold for now. I do believe it is falling and will continue to do so from this point forward for awhile.
swcoin.ecrater.com
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Valued Member
United States
302 Posts |
Quote:
Interesting to note as well Mmerlinn that you are cleaning up on the dirt cheap junk silver....
Also, when you say watershed moment for gold, 1254 days post the crash dates, do you mean you think it will CLIMB rapidly or take a big HIT? You misunderstood dirt cheap - I am not buying silver now at all which if you closely reread what I posted, you will realize. I am buying aluminum and iron in the form of transmissions, transaxles, transfer cases, etc at 50 cents on the dollar while the prices of aluminum and iron are in the tank. Climb rapidly and take a big hit. $2000 gold is a real possibility unless SOMETHING causes gold to radically drop below the black uptrend line. I see gold going sideways until the end of the year, then going back up in the normal seasonal trend for most metals. If it follows normal history, we should see $2000 gold by Easter. If Obama's turbocharger kicks in, it could easily go over that by then. The key period is the next few weeks. If the uptrends hold, then the push will be on to test the old highs. Watershed moment (if history repeats) would mean gold confiscation which is more and more likely to happen as gold goes up. Holders (hoarders) of gold torpedo the actions of the powers that be if left alone. So, as gold climbs higher, the more threatened are the policies of the government, therefore requiring drastic action "for the good of the country". In other words, private gold ownership shackles the government from confiscating money through inflation and is a direct threat to the survival of the government. Quote:
In the absence of the gold standard, there is no way to protect savings from confiscation by inflation. There is no safe store of value. - Alan Greenspan |
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Valued Member
United States
362 Posts |
Quote:
You misunderstood dirt cheap - I am not buying silver now at all which if you closely reread what I posted, you will realize. I am buying aluminum and iron in the form of transmissions, transaxles, transfer cases, etc at 50 cents on the dollar while the prices of aluminum and iron are in the tank. I know nothing on this and I am curious on how you store all this, and who would you sell too? |
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Valued Member
United States
302 Posts |
Quote:
If you were in Euro's would you convert them to dollars, gold or silver? My order of choice would be 1) silver, 2) gold, 3) any other hard asset, 4) a strong currency, 5) U.S. dollar, and 6) any other currency. Depending on what your actual circumstance are, this may not be the optimum order for you. Quote:
I know nothing on this and I am curious on how you store all this, and who would you sell too? I have a 40x60 building to store it in which is large enough to store several thousand transmissions. Most is sold to scrap metal dealers after I have separated the aluminum from the iron. Rest is sold to competitors, to transmission shops, or to people who need the parts. Edited by mmerlinn
12/17/2011 1:22 pm
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Pillar of the Community
United States
3670 Posts |
Yes my mistake Mmerlinn, me reading to fast with blinders on again NOT absorbing all the key info, something that has always haunted me. Reference the Entaimen doughnut story, lol.... I was think scrap/junk silver, but very interesting your scrap parts idea there, as I am sure you do well with it, or you surely would not be wasting your time with it otherwise.... Like ISCY-7687 I would be interested to hear how that works, even though I am way too lazy to mess with dealings in scrap metal, rof  .... Edited by Silverhawk74
12/17/2011 10:51 pm
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Valued Member
United States
239 Posts |
merlin - How much do they give you per pound? About a year ago, I got to help clean out an old toyota garage. We scrapped like 6 lifts and a bunch of other abandoned tools, equipment, etc..
Anyways, we got $0.08/lb or $8 for every hundred pounds of iron / steel.
Unless the price went up, I can't see it being worth your time.
I collect copper, copper wire & brass only because of my job.
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Valued Member
United States
302 Posts |
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Unless the price went up, I can't see it being worth your time. OK. Here are the numbers as of today. Numbers constantly change, both up and down, so Monday the numbers may be different. Aluminum here today is 60 cents per pound delivered. Iron here today is $250 per ton (12.5 cents per pound) picked up at my door. Gross profit per average transmission is $14. On a good day I can process 55 transmissions in 8 hours. On a not-so-good day I can't process any. Not-so-good days means I am usually selling parts, bird-dogging transmissions, and/or selling some to competitors, all of which usually produce more money than straight scrapping. You can do the math from there. Been doing this for decades which indicates that 1) I like my job, and 2) it is profitable. |
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Replies: 75 / Views: 7,032 |
Posted 12/16/2011 7:38 pm
