| Author |
 Replies: 18 / Views: 2,155 |
|
Pillar of the Community
United States
3670 Posts |
Poll Question
So it has been kind of quite lately and I noticed a dipping trend after gaining back less than it just lost over the last 48 hours or so, and now we are looking at some pull back buying opportunities if the fall continues....
Any thoughts on the dips, fell free to add them below....
|
|
|
|
Pillar of the Community
United States
931 Posts |
A bunch of banks got together to help stabilize Europe. That will do about as much good as everyone on this forum chipping in to help with the national debt, but it was enough to get some people excied. In the big picture nothing has changed.
|
|
Pillar of the Community
United States
3294 Posts |
I wouldn't mind seeing it pull back quite a bit more, like into the 20s. I want to buy a bunch to replace the stuff I sold in the 40s.
|
|
Pillar of the Community
United States
2120 Posts |
I still think a realistic floor for G & S is $35 and $1650 respectively.
|
|
Pillar of the Community
United States
4008 Posts |
I agree, Ian. At those levels, I would be doing some heavy duty buying.  |
|
Pillar of the Community
 United States
3670 Posts |
"A bunch of banks got together to help stabilize Europe"
That makes much sense, and again we have seen these temporary fixes that only seems to stall the machine for a few days or so....
|
|
Valued Member
United States
302 Posts |
I chose #2 since it is the closest to what I think may happen. I am still looking for $22 silver by the 24th of October.
By the end of the year silver should be back in the 40s after a dip into late October.
I am hoarding all the cash I can in anticipation of that happening. Regardless of the price, I am loading up on silver at the end of October. I just would like to do it at $22 rather than $30 or higher.
|
|
Pillar of the Community
United States
3670 Posts |
Why do you think silver will dip that much in October for MMerlin?
|
|
Pillar of the Community
United States
648 Posts |
I'm buying at all levels. Just picked up 30 oz's of silver and 2 oz's of gold this week. Let it drop to 20 - I don't care.
|
|
Pillar of the Community
United States
4008 Posts |
Quote:
I just would like to do it at $22 rather than $30 or higher. And I would like it to be free for the hauling away! Probably not gonna happen, though. :-/ As to real silver prices... we have already seen strong silver price support at $34-35 an oz. Now we are seeing it in the $40-42 an oz. range. My question is, other than a desire to buy it more cheaply, what could possibly force silver prices to drop 46% in 4-6 weeks? Whatever that news would be, it would likely have to be an enormous improvement in both the European debt situation and in the US economy. Neither of those seems especially likely to me at the moment and both at the same time sounds more like lottery odds... VERY long, to say the least. My guess is that IF some very good economic news were to come along, we would see silver drop into the $36-38 range... temporarily. If this happens, be prepared to B-U-Y! Not long after that, it could very easily climb back into the $40s again. I do think that silver is undervalued and that it will attain its true value at some point. When that point will come along, no one knows. |
|
Pillar of the Community
United States
931 Posts |
Up today, down tomorrow. We may as well get used to it, because the government is in full blown " say something good even if it's a lie" mode. On top of that the press hates gold and dreams of a huge crash to report. We know what's really going on, and that's why we're here doing what we do. Like I said, get used to up and down until the afteruburners kick in. Maybe a scud missile into Israel or Greece getting kicked out of the EU. They are already trying to soft-shoe us into that one.
|
|
Pillar of the Community
United States
3670 Posts |
I think it is funny 7 voted for major pullback, and for now you are all wrong. I voted the first option, and forgot I wanted to vote the 3rd, lol....
Gold has proven many wrong for some time now an continues to defy the odds.....
|
|
Pillar of the Community
United States
927 Posts |
Even though I would love for gold and silver to drop back to what it was last year, I really don't think it will happen. So I chose the first option. There is too much turmoil in Europe now and it is not going away any time soon.
I don't buy it as an investment, but all collectors think about what their collections are worth anyway. I want the price to go down so I can buy more of what I want for my collection. The rapid rise has caused me to rethink my direction of collecting if nothing else.
|
|
Pillar of the Community
United States
4008 Posts |
Quote:
Up today, down tomorrow. We may as well get used to it Indeed so, Junior. Of course, virtually all other typical investment vehicles are doing exactly the same thing. Excessive volatility like this is a sign of confusion and uncertainty. Not that there actually is or ever was certainty, though. Like a lot of things we hold dear, certainty is a VERY comfortable illusion. It gets a lot less comfortable when the curtain is ripped away and we not only do not have certainty, we also do not have the illusion of it. IMO, this is why we have the stock market bouncing 200-400 points a day sometimes. Unfortunately, a lot of the political problems have grown so large that they are over-shadowing the stock fundamentals. Once that happens, it becomes virtually impossible to predict general future trends. So, we end up with a wildly gyrating traders' market and not a much calmer investors' market. This makes investing a LOT more difficult for the investors than was true even just a few years ago.  |
|
Valued Member
United States
302 Posts |
Quote:
Why do you think silver will dip that much in October for MMerlin? Revisit what happened to the stock market this time of the year in 2008. This year looks like it could quite possibly be a repeat. If so, PMs should also repeat. Gold bottomed out at around $700 then after breaking $1000 a few months earlier. There is lots of support for gold at many levels below current prices. The "unbreakable" support is at $1000, but I don't see any way it could go that low. Silver was not even on anyone's radar in 2008. Silver topped out around $21 in 2008, then in October bottomed around $9, less than half a few months prior. Similar scenario today puts silver under $25. There is extremely solid support for silver prices in the low 20s so not likely to go lower than that. Regardless whether we see a major pullback next month, fasten your seat belts. You are going on a wild ride. Bush goosed the debt bubble and Obama added a turbo-charger to it. Quote:
... or Greece getting kicked out of the EU. That won't happen. The EU needs Greece even in the sorry condition she is in. Even if Greece tries to leave, the EU will not allow it. |
|
Pillar of the Community
United States
931 Posts |
Greece is not making changes fast enough. Of course what they are doing is making society in Greece explode. Why do German citizen's have to pay for Greece to let their whole population sit back and retire at 50 like they always have? If Germany goes overboard bailing Greece out Germany will explode in protest too. I'm not so sure about the future of Greece in the EU.
|
| |
Replies: 18 / Views: 2,155 |
Posted 09/15/2011 4:55 pm
