Silver is Crashing dramatically!

Indeed I agree, but I do find credence in those sayings... same idea as most NFL players out of the leage after 2 years are broke, most lottery winners are bankrupt within a couple years, etc. Fast money gain for any reason usually doesn't lead to long-term keeping for most poor souls.

 

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I got a small inheritance in 1998. Used it for a 50% down payment on a house. The house is paid off and I still own it. Now it's only worth about as much as I paid for it, but with no need or intent to sell, the value means nothing. Thanks for dying, Grandma.

 

if I won the lottery I think I'd be the 1sst one in history to have most of it left 20 years down the road...just buy a house, nothing fancy, another car possibly...and then just try to invest it as safely as possible and live like I normally do...except I might go to a steak house with my wife more often

just cause your "rich" doesn't mean you gotta spend it all...that's how most people never get ahead...why save now when you can start saving tomorrow...

 

As for Walter, I will say sir I honestly do not know what you should do with 40K. I do not know your situation, when you need the money, what other investments you have, etc.

Since I have no clue about those things, I would never even guess if putting it all in PM is a decent move or not.

Sorry.

 

If silver continues this slide, i wouldn't expect to find much for sale. My local guy during the $40-$30 slide told me he would rather not sell any than take a big loss. Or i wouldn't be surprised to see premiums over spot increase.

 

I am hoping to make and educated and informed decision. not sure what the numbers or sources are for heirs and their outcome would be.
thanks[
walter
QUOTE=Tinpot;1645612]I doubt that will happen to kydedhed, he sounds like a smart guy[/QUOTE]

 

Short term yes, but not long term. Way too much competition nowadays, more than in the past. Any dealer not willing to sell ASEs for normal premiums will get undercut with new production, and will sit on them.

Everyone has cash flow needs, even those trying to time the PM market.

Please see my post #24 on the "Brace yourself" thread.

 

Dangerous game, everyone assumes it is just a dip with an inevitable bounce, but the dynamics are changing. We saw large amounts of cash flowing into equities in JAN for the first ime in a very very long time.. Will it continue? I don't know, but a buillion dealer holding AG waiting for a better price, just might not work out.

 

I own a lot of silver but it is in coins not bullion. It is my opinion that real estate is the best place to invest for the next couple of years.

 

They might wait to until they are out of business. I would be worried and would want to turn it around as quick as I could.

 

My guess is if you like the February prices you will love the prices in March.

 

if that's the case wouldn't April be better? or even may better still?

 

"Buy land, they're not making it anymore." - Mark Twain

I've always liked real estate as an investment, especially rental properties in an area where rentals are in high demand. There's nothing quite like using the bank's money to buy a house that someone else pays off while it (hopefully) appreciates in value. It's a win-win-win situation.

 

Not if March is the low...

 

'Crashing' - That's a bit dramatic no? A few months from now, when we can read such movements in context, that's when we might label this the start of something like a crash.

Any given day's $1 move is most likely a short term volatility blip that is of little interest in the longer term chart. Silver is a roller coaster.

I find it thrilling with any move. Current holdings enjoy the rides up and expansion thereof is aided by the rides down. Terms longer than a day, week or even month are needed to assess this as an indicator of which way to respond.

 

Guess we might as well wait until next March to buy then.

 

Could very well be, just don't know where the bottom is, it has been my observation though, that once that pendulum really starts going, it always swings too far, so bottoms are deeper than they should be and tops are higher than they should be. A lot of money can be made because of these inefficiences in the market.

 

So true.

If you look at a graph of the past year, you see two similiar drops in recent history. One that started in the beginning of October where silver went from $35 down to $31 in the course of 30 days. During the month of December it went from $34 to $30. Now we're looking at Jan 20 to Feb 20, and it's gone down from $32 to $28.4. Both of the previous drops were followed by short rebounds where it recovered most of its value. Both recent drops pale when compared to March - July of last year when silver went from almost $37 to $26.4. But shortly thereafter recovered to $35.

So what does all this mean? It means I'm not worried one bit because I have both silver and cash. If silver continues to fall, I buy more. If it shoots up, maybe I'll sell some.

 

Unfortunately, more lose than gain trying to time the market.

 

I think you're wrong. $0.90 is 3% of $30.00 whether it is gained or lost.