| Author |
 Replies: 22 / Views: 2,533 |
|
Pillar of the Community
Canada
1723 Posts |
just saying I noticed a .40 spike in the comex live charts. Busy busy overseas.
|
|
|
|
Pillar of the Community
United States
648 Posts |
Yep - let's see how Wall Street reacts to that tomorrow. Perhaps some profit taking or we go higher. Historically speaking, Wall St. usually takes the profits when the opening bell rings. Stay tuned..
|
|
Pillar of the Community
United States
3670 Posts |
Gold is just dying to break the 1700 mark, and silver looks like it may be comfortable across 32.50, for the time being of course, lol....
|
|
Valued Member
United States
141 Posts |
gold definitely wants to break 1700, any moment now..
|
|
Pillar of the Community
United States
667 Posts |
Just a normal trend in PM's lately. Six months back Gold was over $1,700 and now we are almost back at $1,700.
Silver was at just over $34 and with a little more work it may hit that number soon.
That is one reason I don't get much excited about the peaks and valleys. I tend to look long term than short term.
|
|
Pillar of the Community
United States
5839 Posts |
Well, it looks like PMs spiked overnight into the morning hours, with silver hitting $33 and gold topping out at $1713. A little while ago there was a sharp drop, but if today is like most other days, there will be a sharp rise within the next hour and perhaps we'll see even higher prices than before...
|
|
Pillar of the Community
United States
863 Posts |
when I saw the title I was hoping for a picture of a Silver Spike, one that can kill a vampire.
|
|
Pillar of the Community
United States
5839 Posts |
Here you go:  |
|
Valued Member
United States
376 Posts |
My phones broke! So I can't check my Gold Silver Price widget every 5 minutes! So I had no idea it hit $33 today. Crazy. I guess I'll have to slow down on buying for a little while until it goes down a bit. But I'll still buy  |
|
Pillar of the Community
Canada
3692 Posts |
Quote:
Perhaps some profit taking or we go higher. With a prediction like that, how can you be wrong? I didn't see this rise coming so fast. I thought it'd take at least 1-2 more months before we saw silver poke over $30/ozt. Does anyone see the price drop from November and on? Seems to me like no matter who gets elected as president of USA that the tension of decision will be off again and people will get a sense of political placebo. Then the December slump as usual. Might be a good time to take your money and run! Disagree? |
|
Bedrock of the Community
13014 Posts |
I would say a reelection of Obama could lead to higher prices as that would mean another 4 years of the same policies, but I do agree that there should be a nice run up to voting day
|
|
Pillar of the Community
United States
3294 Posts |
Quote:
Quote:
Perhaps some profit taking or we go higher.
With a prediction like that, how can you be wrong? A stagnant trading day with little movement either direction. |
|
Pillar of the Community
United States
4008 Posts |
Quote:
Might be a good time to take your money and run! Disagree? Agreed. In fact, I am about 8% in PMs now, 70% in cash, and the rest in a few core mutual funds. Too many off-the-wall things going on to make any sense of the current stock market. Am hoping that things will have either settled down or blown up by Jan-Feb. Either way, we would at least have some direction.  |
|
Pillar of the Community
United States
667 Posts |
Great start at diversification Ed.
|
|
Pillar of the Community
United States
4008 Posts |
Thanks, MK. What additional steps would you take at this point?
Like a lot of investors, I don't want to go all-in with any investment. The cash that I hold is a temporary arrangement. It will be reinvested as soon as the financial situation clarifies a bit. There is no rush. I have plenty of money to live on comfortably but really do want to avoid a sudden drop in the market if I can. In 2008, cash was definitely king. Anyone who had cash could scoop up quite a few bargains in many asset classes, including PMs. I did not do this in PMs but did get some real bargains on some great mutual funds. While that may or may not be the case during the next recession... or next leg of the current recession... it seems reasonable to me at this point.
|
|
Pillar of the Community
United States
667 Posts |
It is hard to say Ed. I have a lot of time before I retire. Time is very good when you have money in the stock market. Thus I have it there and can afford to be a little aggressive.
My 410k and retirement plan is another area. I'm lucky in one point that I will have a retirement and I max out my 410k.
PM's are my major diversification. I have been buying for 30 years. While it is a speculation the market would really have to fall back into the 1970's to really hurt this side.
Cash is good to have on hand.
I own a few things that give me a better position. The farm has coal and a lot of it, they will be mining it next year. SO on the side I root for China's economy since it will all be going there. I'm still working on the financial plan for this income.
The Marcellus Shale will be tapped in a few years so that brings more into play.
The farm still produces a profit and I cut my teach on commodities with beef and grain. It was a great year for beef but there have been some not so good years in the past.
My day job is going strong but of course you never know how long that will last.
I'm not a financial adviser so I don't or can say if I am right or wrong. I think having money in the market is a good thing weighted in investments that fit when you will need the money. History is on your side as long as the timing is correct.
PM's have been very good to me but I made most of my larger buys when I was young had no money and bought at a fraction of the price PM;s go for now. We suffered early in our marriage for going fun stuff to buy the PM's. As far as percentage I am really out of whack with 40% in PM's. However the bottom would really have to fall to be hurt. I continue to buy each month and at time have sold some to buy more at a lower price.
Land - buy cheap and get lucky with having coal reserves that you were not aware of. Then compound it when your area becomes a hot spot for gas.
I know this is long winded but if I gave any advise it is diversification, and do something when you are young. It was hard not going on vacation or not buying that new car and putting as much as I could into my 410K. But oh what dividends it has paid today.
Today I could care less if gas went to $10 a gallon and if I wanted to I could retire from the day job even when kids at home. My day job is a normal position not a CEO or something like that.
MY goal with PM's when I started > First off it wasn't something to flip and make a fast profit. The stuff was cheap I could buy a few ounces of silver each pay for less than going out and having fun on the weekend.
|
| |
Replies: 22 / Views: 2,533 |
Posted 09/05/2012 11:17 pm
