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 Replies: 66 / Views: 6,215 |
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Pillar of the Community
Mexico
1304 Posts |
How LOW can it go? It will probably just pop right back up, but still...that's quite a chart!)  |
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Pillar of the Community
United States
1903 Posts |
I think ( hope) we are just seeing year end profit taking going on....we may see this trend for the rest of the week. I just hope it doesn't cause panic selloffs from the amateur sector. If things go how I hope we will see January be a strong upsurge month.
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Pillar of the Community
United States
1554 Posts |
End of the year sales but I think mostly Government manipulation! I just don't see the US Dollar being this strong.
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Pillar of the Community
United States
5854 Posts |
As I mentioned in another thread, I've got two bags of $100 face value junk silver coins in my shopping cart over at APMEX and am just waiting to pull the trigger. Every time I think it's time, the price drops a bit more. Silver's at $27.54 as I type this... |
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Pillar of the Community
United States
1554 Posts |
Go for it! Good time to buy!
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New Member
United States
3 Posts |
Cautious "fade" here -- get your toes wet and continue to buy as it drops, but keep some powder dry. The "trend is your friend" and right now that trend is a strong dollar and staggering economy, neither of which are a friend of silver. Jumping in here head first will likely end up being what's called "catching a falling knife."
I think we'll see more pain short term..long term, I'm a big believer in the stuff and boy do I like to watch my pile grow, just being cautious!
The contrarian view is that smart investors buy when everyone is selling and vice versa, and this may be the time the time to do just that :) Clear as mud? :) good luck out there!
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Valued Member
United States
197 Posts |
The euro fell below $1.30 today. The euro's loss is the U.S. dollar's gain. The U.S. dollar's gain is (usually) gold's loss as measured in dollars, and silver usually moves in sympathy with gold. But rather than ask how many dollars an ounce of silver is worth today, one might better ask, for example, how many gallons of gasoline an ounce of silver will buy.
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Pillar of the Community
United States
2424 Posts |
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Pillar of the Community
United States
4008 Posts |
Quote:
I just hope it doesn't cause panic selloffs from the amateur sector. When weak hands let go, stronger ones move in to scoop up what they have dropped.  Quote:
I just don't see the US Dollar being this strong. No, I don't either. The US dollar seems to be benefiting from being the nicest house in a crummy area. It only looks good when compared to others that are much worse. That doesn't make it look good to me and, I suspect, to a lot of others hereabouts. If we look at a longer time frame, very little has actually changed in either PM or dollar fundamentals. We still have this HUGE debt, more dollars are still being printed, and the politicians on both sides of the Atlantic are still squabbling over the crumbs while the entire cake teeters on the edge of the table. Unless there is a radical and substantial about-face from their currents approach to our financial and economic problems, this is likely to end very badly. If it does, I would FAR rather have some PMs than the equivalent in Euros or FRNs. Quote:
...long term, I'm a big believer in the stuff and boy do I like to watch my pile grow, just being cautious! Caution is often a good thing. But then, so is being nimble and getting into and out of investments ahead of the pack. The question here is, "Which time is this... in or out time?". To me it is looking a lot like an "in" time.  Quote:
The euro fell below $1.30 today. Yes, it did... and it happened in spite of everything that was done in Brussels and DC to prop it up. This is a BIG deal and one that does not bode well for the euro or the Europeans. OTOH, I remember a time when a euro could be bought for US $0.87. Perhaps a euro at parity with the US dollar will not be the end of life as we know it after all. Just remember, folks, that we are witnessing a process here and not an event. This is likely to drag on for quite a while before anything really major or significant happens. When it does, though, it could do so very quickly. |
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Pillar of the Community
 Mexico
1304 Posts |
If anyone sees any weak hands, give me a shout, I have a little powder ready!
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Pillar of the Community
United States
1554 Posts |
After watching this all day I don't know? This drop in silver is troubling to me. I am in no ways as knowledgeble as the posters in this forum but am a Silver Dollar collector. This means your basic medium grade Dollar coin is worth no more than around $21-$22 today. I find this unrealistic. Even a silver Round for $27+ is just too unrealistic. Nice for buying right now, but still unreal. Something is going on and it's not good. I wish I had at least some idea or knowledge as to how a tangible asset like silver can be worth about HALF of what it was last Spring with the Dollar being worth less than last Spring and I believe the stock market is now up since then, I think? Gas prices are about the same I think also. So much for my rambling but I wish I understood more about this nonsense that's been happening lately other than the typical...Europes in trouble, Europes fixed their troubles, the dollars strong, the dollars weak, etc. etc. Does anyone have any clue as to the real skinny on this?
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Valued Member
United States
333 Posts |
It's all perception and the markets don't always trade lock-step with reality.
IMO, it is many things.
What we are seeing is the delayed perception that the M3 money supply has seen such a rapid decrease in the past few years that it eclipses any money printed by the Fed. We are also seeing a flow into the USD and away from the Euro as the USD is comparatively better looking. The Italian bond sales are important to watch. We are also seeing a sell-off in equities as traders (mostly foreign, I assume), must sell something to cover their other positions. There is also the MFGlobal elephant in the room as well as the whole paper silver and gold being distrusted.
Of course, this is just my opinion. In reality, who knows? My prediction is that price discovery will be interesting within the next 5 years.
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Valued Member
United States
302 Posts |
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one might better ask, for example, how many gallons of gasoline an ounce of silver will buy.
Based on current price of silver ($27.04) and what I paid for gas today ($3.28) the ratio is 8.24 gallons per ounce. When I was a kid, silver was $1.29 per ounce and gas was 35 cents per gallon, giving a ratio of 3.69 gallons per ounce. That means that gas then was OVER TWICE AS EXPENSIVE AS GAS IS TODAY. And that is with the two gas stations less than 5 miles apart. |
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Rest in Peace
United States
9104 Posts |
 , spacecoast_collector and Newmismatist! |
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Pillar of the Community
United States
5854 Posts |
Quote:
Go for it! Good time to buy! Well, I finally decided to pull the trigger yesterday when silver hit $27.40 and showed signs of going back up. Sadly, although silver did go back up a little bit, it then continued its downward decent in a dramatic fashion. Last I checked, it was at $26.31 this morning and looks like it may drop further. I know it would really matter if silver eventually hits $50 again, but right now my wife is really peeved at me and has forbidden me to buy anything else this year even if it drops below $25 (which is seems likely to do this year). It's "our" money (not just "my" money), so I have to go along or face the consequences. Maybe if it drops all the way down to $20, though... |
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Valued Member
United States
301 Posts |
I hope it keeps going DOWN! I want to buy more at a better price!
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Replies: 66 / Views: 6,215 |
Posted 12/28/2011 10:26 am
