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Pillar of the Community
 United States
3789 Posts |
I have to answer this in two parts, as a trader and then as a collector-
1- as a trader, if silver drops to 3 then I am interested in selling it short provided it gives me a proper entry point for my time frame that I work within. Outside of that, I am not interested in silver. I need assets to move in a trend, just because they go down in price doesn't mean I am interested. I make money based on price action that provides a trend, either up or down. If I were to buy silver at 3, that does nothing for me.
2- as a collector, I would love to see silver at three. I can get back into collecting....I can finally get that elephant kilo,,, I can buy those african wildlife coins I been putting off... I can comfortably pick up my spending in the hobby. What I dont want to do tho is collect coins right now and watch prices slide on me, I dont want to over pay and I am not going to overpay period. Either silver and gold hit their rock bottoms and do nada OR they break their downtrends, which I would also pick up the spending in my hobby...
Let me tell you, I have a HUGEEEEEEEEEEEEEEEEE wish list of coins......
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Pillar of the Community
United States
1804 Posts |
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Pillar of the Community
Canada
2019 Posts |
Quote:
Personally see PMs in the tank for a while
Gasoline, Diesel very low at the pump.
Gas $1.89 here. Dont get use to it, someday soon everything is going to go up.  I do mean soon... |
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Valued Member
Canada
312 Posts |
Anyone figure why silver rocketed up about 75 cents USD Over the last Two days?......Hopeing it gets back down there in the next 6 days so I can take advantage of a free shipping promo at a local bullion dealer....
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Pillar of the Community
United States
3789 Posts |
@domain555 I am away right now from trading, just basically on a long and extended vacation until this range is resolved in the overall markets and sitting out the volatility seeing I have huge gains I Am sitting on from the previous years. So I decided early in the year to wind things up... sometimes you should be in the market, sometimes you shouldnt be as I am sure you know. Plus, its been nice not to have to work on reading charts, managing watch lists and check market internals everyday  Tho I really should do a chart or two and bring this thread to speed as to where we stand. I agree with you, PMs, along with the vast majority of the commodity complex are going to stay down for a long time as there is absolutely no indication by price that any of these downtrends want to get resolved higher. Take a look at oil as an example, it still is far from wanting to break its downtrend, in fact if anything, probabilities are high for lower prices. I suspect we will continue to see gold and silver in a range bound market with periods of counter trend moves that pull it higher while still remaining in an overall downtrend. Why did silver and gold jump for a few days higher? Who knows, only the market knows the reason and many times these bounces higher, are just pure technical moves that mean really nothing much, just price doing its normal thing. Edited by yup7676
09/17/2015 4:01 pm
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Valued Member
United States
52 Posts |
Whitetail - presumably because of the US FED announcement today not raising rates.
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Pillar of the Community
United States
1804 Posts |
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Whitetail - presumably because of the US FED announcement today not raising rates. IMHO ~`~`~` It is nuts to punish Savers for 6 LONG years. |
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Pillar of the Community
United States
1678 Posts |
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It's a great time to buy, before the reality of how bad the Economy is burns through. First page, 235 pages ago, 2/15/13, silver at $30. PMs, as an investment, remain a horrible idea. |
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Pillar of the Community
United States
1804 Posts |
My friend the YUPER Quote:
@domain555
I am away right now from trading, just basically on a long and extended vacation until this range is resolved in the overall markets and sitting out the volatility seeing I have huge gains I Am sitting on from the previous years. So I decided early in the year to wind things up... sometimes you should be in the market, sometimes you shouldnt be as I am sure you know. Plus, its been nice not to have to work on reading charts, managing watch lists and check market internals everyday Tho I really should do a chart or two and bring this thread to speed as to where we stand.
I agree with you, PMs, along with the vast majority of the commodity complex are going to stay down for a long time as there is absolutely no indication by price that any of these downtrends want to get resolved higher. Take a look at oil as an example, it still is far from wanting to break its downtrend, in fact if anything, probabilities are high for lower prices.
I suspect we will continue to see gold and silver in a range bound market with periods of counter trend moves that pull it higher while still remaining in an overall downtrend.
Why did silver and gold jump for a few days higher? Who knows, only the market knows the reason and many times these bounces higher, are just pure technical moves that mean really nothing much, just price doing its normal thing. You are so wise. Thanks |
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Pillar of the Community
United States
3789 Posts |
@arrowsandrays
I really feel bad for everyone who has been putting money in large amounts into gold and silver on a regular basis since those highs.
It is a well established long term fact among traders that averaging down in a declining asset is wrong and never ever works. Yet, I remember even family members telling me about one person that was going to cash out all their retirement and put it in canadian dollars and silver and gold.
Why someone would want to make large purchases in an asset that keeps going lower is beyond me. doesn't everyone want to save money? doesn't everyone want to protect their hard earned dollars and buy right?
To those who say its a great time to buy, I would like to know how does it feel knowing every single purchase they make is underwater and by that fact, that in turn means their opinion is wrong because they are losing money.
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Valued Member
United States
194 Posts |
YUP - I completely 100% agree with you regarding silver dropping like a rock, and I think it will continue to do so until it reaches the 8 dollar area personally. However, what has kept me buying (in smaller quantities though) is the adjustment of premiums that seem to keep the value in coins. I don't purchase bars for this very reason, because they are just losing money quite frankly.
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Valued Member
United States
108 Posts |
I'm just going to quickly add my Two Cent Piece concerning buying "junk silver" currently. In my opinion, it is not a bad idea to buy junk silver (if it can be bought without the high premiums) because the current silver price is "artificially" low. It's all about supply and demand, and right now many are buying it and few are selling. Plus, the increasing premiums that the dealers are charging show us the the "free market" wants the price to be higher face. This is also why I can't buy junk silver even if I wanted to, because I can't find a place with reasonable premiums. Sellers/dealers think the price is too low and buyers think the price is low. It sounds like an imbalance to me. |
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Valued Member
United States
103 Posts |
Well silver went up 50 cent in the past few days but it will go down to $8-9 an ounce by mid 2016.
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Pillar of the Community
United States
4333 Posts |
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Well silver went up 50 cent in the past few days but it will go down to $8-9 an ounce by mid 2016. Your reasoning behind this prediction? When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
Australia
491 Posts |
I am sure if the charts for the Aussie$ and silver were put together over the last 2 years we would see when silver is going down so does the AU$ & when the AU$ is going up silver moves upwards as well.
It is very frustrating when this tread is compared with the US$ v silver price.
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Replies: 5,649 / Views: 461,249 |
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Posted 08/31/2015 1:45 pm
