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 Replies: 35 / Views: 3,496 |
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Pillar of the Community
United States
3670 Posts |
For those of you that want to make something now, and are wondering when to get out for now an take some profits.... I am thinking put it ALL up for sale around 1950, and hope it sells right around the time it peaks out on 2000, as I expect it will not be long before a pullback to 1700, which will be a repeat in history of sorts, when it hit 1000, an pulled back to 700.... Plan A....Now then, if it did fall back to 1700, maybe 1600 after hitting 2000, you could buy back into gold, and come out with a decent amount more perhaps.... Plan B....Lets say, gold pulls back 50 bucks after hitting 2000, and then turns back up an sets its sails for 2500. Your BUY BACK IN window has closed, so what next. I know, put it all in SILVER  .... Plan C....Lets say silver has followed gold as it hits 2000, and silver is now 60 bucks an oz., what next? Well, sixty bucks an oz. is still way cheaper then the 2000 an oz. gold you just sold, so how about stick with silver, maybe buy into Palladium perhaps or platinum if you wanna go that direction.... |
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Pillar of the Community
United States
1150 Posts |
I like the idea of selling gold and buying into silver while the ratio is around 45:1. I wouldn't want to buy into the other PMs, though.
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Pillar of the Community
Canada
3692 Posts |
What if by that point silver is $75-100 and falling like a stone? I don't think that $50 barrier would hold very long (speculating).
Right now you should be stacking tin cans with food inside of them, IMVHO.
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Pillar of the Community
 United States
3670 Posts |
Yes I agree with you Mitch on silver an Libertad water an food is of course the number one priority....
And like you said on the other thread, food cost for milk an such is already on the inflation rise....
Edited by Silverhawk74
08/11/2011 3:47 pm
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Pillar of the Community
United States
759 Posts |
I just don't know what to say about this.
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Pillar of the Community
United States
2661 Posts |
Quote:
food cost for milk an such is already on the inflation rise.... Nooooooo, the President is still saying we have no inflation. He would not lie to us. Even with the downgrade to AA+ he still says not to worry, ain't nuttin to it, everything is just fine.  .....Yeah right. |
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Pillar of the Community
United States
931 Posts |
I'm not in it for profit. My gold is insurance to help preserve the value of my cash. It won't cover all of it but it will help if gold acts like I think it will when official inflation hits 10% and actual inflation is 18%. I won't sell if it pulls back and I wouldn't mind seeing twelve or thirteen hundred if the ETF guys mostly bail out and get into equities paying a 4% dividend like everyone is telling them to. They are planning on the Dow going back towards $13000. I personally think that the market will go much lower and high inflation is inevitable and that I was correct in what I believed when gold was at $700 but I only bought about a twentieth of what I shoulda woulda.. The one thing that I didn't foresee was that the dollar is the "cleanest dirty shirt" as they say. There are other places to put your money and some people are happy with 2% return on investment repaid with dollars that are worth a third of what they were when they bought their
Edited by junior e
08/11/2011 9:23 pm
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Pillar of the Community
United States
4008 Posts |
I agree, Junior. Silver is a good store of value and an inflation fighter. It's not that I want PMs to skyrocket and make me a lot of money. It's more that I don't want inflation to rob me of what I already have!
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Pillar of the Community
United States
1026 Posts |
Well still waiting for the last gold I bought to arrive they cashed my chack yesterday but did not ship yet APMEX. Not sure what to do, with the premium I paid got that last 4 one ounce swiss bars at $ 1724.00 so can't sell under $1800 I figure just not sure what gold is going to do like the stock market it is going crazy. I just may sell at $1800 those 4 ounces and put it into silver have to think on it more but first I have to get it  Edited by Brucec
08/11/2011 7:14 pm
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Pillar of the Community
United States
931 Posts |
I wouldn't give up yet Bruce. They raised the margin requirements so it was nearly impossible for gold to hold it's position today. The powers that be are not happy with the success of gold and it's " in your face" action of late. Obama, Bernanke and Geithner had a meeting yesterday and lo and behold the margin requirements were magically raised. They are using the only ammunition that they currently have to counter gold and it's slashing action. Keep believing in gold and you will be rewarded for your purchase. If you sell don't sell all of it.
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Pillar of the Community
United States
648 Posts |
Silver Hawk - interesting play on a current short term type deal. I believe in having PM's and adding to it - nothing more. Some of my buddies do have a core and use some PM's to flip.(play with 100 oz etc) Then again, I think just flipping ETF's etc on etrade is much faster. The only unfortunate caveat of that is a capital gains tax + commissions to etrade. SLV was a day traders dream the past couple of months. (and still is)- use your profits from etrade money > pay taxes to the gov > direct deposit in your account > buy gold. I'm seriously considering doing that on a short term play with silver...anyways. After it all I finally decided nothing is for sale - I just buy bullion and some coins here and there....I'll try to come back to this post in 5-10 years and see what's cooking then. I'm hanging onto my gold and not letting go anytime soon. I say let it ride!  Edited by tripncoins
08/11/2011 8:35 pm
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Pillar of the Community
United States
5833 Posts |
tripncoins,
That's the ticket, buy low sell high (LOL!), just don't get too greedy and or fall in love with it. Determine a $ figure you're willing to buy at the current market condition and at the same moment set a price to sell. I saw the opportunity that silver have a quick dip for the day and when gold was up over $70+ first time on Monday, speculators just want to follow everyone else.
I bought SLV at $36.28. Low was $36.04 2 days ago, once I got in, I place a sell order at $38.50. The high for the following day in the afternoon was $38.52. A profit of $2.22 per share.
I don't mind paying the $8-10 commissions, find some ways to offset the capital gains.
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Pillar of the Community
United States
830 Posts |
Quote:
Silver Hawk - interesting play on a current short term type deal.
I believe in having PM's and adding to it - nothing more. Some of my buddies do have a core and use some PM's to flip.(play with 100 oz etc) Then again, I think just flipping ETF's etc on etrade is much faster. The only unfortunate caveat of that is a capital gains tax + commissions to etrade. SLV was a day traders dream the past couple of months. (and still is)- use your profits from etrade money > pay taxes to the gov > direct deposit in your account > buy gold. I'm seriously considering doing that on a short term play with silver...anyways.
After it all I finally decided nothing is for sale - I just buy bullion and some coins here and there....I'll try to come back to this post in 5-10 years and see what's cooking then. I'm hanging onto my gold and not letting go anytime soon. I say let it ride! I agree, but if you trade in an IRA, there is no tax consequences. I never miss a year of max contribution in my Roth IRA. I usually do it ASAP rather than waiting until the end of the year. |
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Pillar of the Community
United States
5833 Posts |
GoThunder,
Please enlighten me. Is Roth IRA you pay tax upfront? Where tradition IRA you pay when one withdrawal from it. Or is there a something else?
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Pillar of the Community
United States
830 Posts |
Yeah you pretty much got it Mac, the Roth all money going in is after taxes, but then growth is tax free.
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New Member
Japan
5 Posts |
Libertad wrote Quote:
Right now you should be stacking tin cans with food inside of them, IMVHO. I agree with this. I'm going to be scaling back on adding to my very humble Ag stash and start adding to my very humble food/necessities stash. Try to increase it to 6 months supply. |
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Replies: 35 / Views: 3,496 |
Posted 08/11/2011 3:11 pm
