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 Replies: 92 / Views: 8,698 |
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Pillar of the Community
United States
965 Posts |
silver is now below $28.50  |
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Bedrock of the Community
United States
10982 Posts |
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Please re-read the Fed Minutes, clearly you didnt read them.
This is not panic selling. Volume and price action dont like, the fact of the matter is funds are not buying gold and silver. The selling has been happening for weeks and months now.
Dropping 3% in 8 hours is quite a sell-off. So tell us yup7676, what do you think will happen? Gold and silver will collapse? ...and I can't read.  They said, "...might we have to do something different because we've created an equity market bubble and the economy is still in the tank; except we don't have any more cards to play and now don't know what to do." We're $17 trillion in debt and can't raise interest rates. People aren't hiring because they're scared. And fools again say gold will tank. I've heard this, and seen this, several times in the 5 years. The result is always the same, gold hits new highs. $2,000 gold is a given in the next few years. |
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Pillar of the Community
United States
3789 Posts |
Sorry but you are wrong, until you read properly the Fed minutes then you will understand.
Clearly I can see your negativity and pessimism, thinking the economy is still tanking.
When you read the Fed minutes then we can talk. :D
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Valued Member
United States
161 Posts |
The economy isn't tanking? What country do you live in? Yup7676, you seem to have all of the answers when it comes to the PM market, why not share that info with the rest of us so we can be as rich as you? Nobody knows what is going to happen, but everyone can see that the economy is not doing any better. A country that accumulates absurd amounts of debt on an hourly basis and is unable to pay of any debt IS tanking. And why not buy on this dip? Nobody knows for sure if it will continue to drop, it could shoot back up to over $30 tomorrow.
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Valued Member
United States
380 Posts |
The Economy is nosediveing. I see it every day with the hundreds of people I work around scraping to get by. People that have degrees and high level training can't even find a job. Oh and I'm not ignoring that the GDP actually went backwards recently. Unemployment is undeniably up and rising. Most of the people I work with won't claim unemployment, so I wonder how many not claiming should be added to this statistic. I say buy the crap out of silver, because our dollar will absolutely tank. It's just a matter of time.
Edited by Arcticsparky
02/20/2013 5:12 pm
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Valued Member
United States
200 Posts |
Just a little while back, everyone was making predictions of silver prices reaching moon and beyond. Now everyone is aiming for 6 feet under. I am not an expert in predicting PM prices but I will say that if silver does go to 25, I will definitely buy again. Even if it goes below 25, I am pretty sure of getting decent returns over medium/long term.
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Pillar of the Community
United States
919 Posts |
I have added much numistic silver between $30-33. If silver goes to $25 I will start to add bullion. Silver in the low $20's will really put a damper on those proof and mint issues selling for $50-60 per coin. Maybe I will finally have a chance to pick up the 2011 set cheap as the rush to sell continues.
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Bedrock of the Community
13014 Posts |
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People aren't hiring because they're scared. Think about that on the flip side though. The longer the economy is bad or people are out of work the less disposable money people have. Individually their PM purchases mean nothing for the price but as a large collective group it does have an impact when large groups cant buy anymore. |
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Pillar of the Community
United States
3789 Posts |
WOW! is all I can say, to anyone that insists the economy is getting worse, WOW!
Sorry my dear friends but if you cant grasp and see the changes happening in the economy then it is because you have allowed your opinions to trump the facts.
I will hold firm in my conviction that the economy IS getting better. It is also sad how no one knows how to read economic data. The GDP number didn't even matter... but you have missed it...
sadddddddddddd that many of you have a negative, dour, sour attitude on solid facts. Its sad that many of you cant grasp the single fact that the trend is DOWN in PMs. No one here is saying they are going to crash, so just settle down. I realize many of you WISHED things fell apart to sell your gold and silver higher but thats not going to happen lol.
Folks, I see this everyday even with fellow traders. They INSIST and cling to their opinion and allow themselves to be blinded by the facts. And what is fact? The fact is the economy is getting better, debt doesn't matter, and that funds are selling and reducing their holdings of silver and gold, thereby driving the price lower.
The price action in silver and gold, the VOLUME right now is indeed telling the whole story, and anyone who says "you cant predict prices" obviously has never sat on a trading desk and traded for a living.
BEST case scenario for gold and silver going forward is a continued slide where it finally comes into support and stays range bound.
I have come to all of you with facts, the FACT that gold and silver have been in a downtrend since NOVEMBER, that Fed minutes have given further confirmation to participants and traders that the dollar WILL be getting stronger, that rates WILL be rising, that QE will be reduced.
I might also finally add this. WHOEVER of you insists this country is not doing better, is not a patriot and is trying to bet against the will of the American people. This country has seen some of the WORST times, and it has ALWAYS picked itself up. I place my bet with the facts, that we here in the United States of America will get out of this slow down as we are everyday. We are getting stronger and better everyday and we will lead the world.
Again, no one here, including myself, has called for a silver or gold crash, no one has said that, at all. Learn to understand that assets such as silver and gold follow trends. Get it in your minds that they are now trending down. That does NOT mean they are going to crash.
I have laid out all these points in another post. IF you cant deal with facts and a proper understanding of markets, well then it proves to me that you have an agenda in being negative and a doom and gloom er,, that your parade is getting rained on because you want to see things crash so that silver and gold go higher.
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Valued Member
United States
161 Posts |
"debt doesn't matter".....Quote of the century.
Because I can see that the economy isn't doing better I'm not a patriot? I served 8 years in the Army and did two combat tours overseas for my country so you really can't call me out for not being patriotic. What have you done for your country lately? I don't think people on this thread are saying there is no hope for America as you so dramatically put it. I just think that they see house after house being foreclosed on, job after job lost, and prices rising on everything. But...we're doing great right! I have an MBA from a top school, am a master six sigma black belt, and have traded on the market for seven years, but I don't sit on my soap box and preach like you do. I prefer to be humble and allow individuals to make their OWN decisions about their OWN life. Basically, you may know somethings, but you don't know everything. So calm down champ.
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Pillar of the Community
United States
1454 Posts |
yup7676,
For us non-traders, could you spell out some of the facts you have gleaned that show how the country as a whole is getting economically stronger and what, exactly, you interpreted from the minutes that lead you to believe PMs will be testing new lows in the future?
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Valued Member
United States
161 Posts |
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Pillar of the Community
United States
1391 Posts |
Okay, he kept up the rouse for a while but but I'm sure yup is joe.
Edited by allranger
02/20/2013 7:29 pm
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Valued Member
United States
161 Posts |
Maybe he is the YUUUUUP guy from storage wars.
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Pillar of the Community
Canada
834 Posts |
for a guy who is a "day trader" he sure spends a lot of time posting on this message board during trading hours lol
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Replies: 92 / Views: 8,698 |
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Posted 02/20/2013 3:44 pm
