Here we go! Silver under $18...

No worries, I buy ointment for my shoulder by the case.

 

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It depends on how you look at the technical pattern forming. The last year or so has seen lower tops but fairly strong resistance ~$17-$18 floor. If you're trading short run, it might be a buying opportunity to capture 10-15% and sell into the $21 spike. I don't mind people calling the current floor a buying opportunity, so long as they aren't calling on people to buy large quantities to store. The floor might collapse, which would leave a few psychological floors at $15 and $10. I don't think that will happen, since $17-$18 was a strong ceiling. We're likely in the bottom end of a trading pattern channel between $17-$21 ($18-$20, for those who wish to be more reserved). Until silver breaks below $17, that pattern should continue, but get tighter with each top. Once the tops start to reach $19, we'll see the bears fully come out of hiding to manipulate the market down.

All that said, I still believe that silver has an intrinsic value around $17.28. If we start to see continued production below that price, it would indicate that we're in a broader deflationary cycle, as well as in a PMs bear market.

 

My cost averaging technique was to quit buying four years ago. My average cost per ounce of my stack is about, ohhhh, six bucks. My absolute HEAVIEST buying year for ASE's was, wait for it, .... ..., 1996.

This market, and most markets, are OWNED by the contrarian.

 

I completely reject any and all technical analysis tools. It's an utterly made up pseudoscience, and that's the kindest words I have for it. The rest could get me banned for life from CT. I ONLY personally care about fundamentals, but I have been educated on chart voodoo. I use their terms because far too many "pros" know no other terminology.

 

BTW, Medoraman my post was simply
a generalized dig at the un-stacked,
not you or anyone specifically.

 

This thread had a nice beginning, (to some) but now it's just a flame war.
Stop.

 

Here's a "fundamental" for you - the story that there ever was a shortage of physical silver is and always was a "pump and dump" LIE! The physical demand from traditional photography's demise has never even come close to being replaced, and silver Bulls have tortured all reasonable vocabulary definitions to create a myth.

 

Wow, just WOW. So now "flame war" means countering the initial sentiment? You really need to recalibrate, sir.

 

What is going on? This is suppose to be a peaceful and happy topic for everyone.

 

No chamber like an internal resonance chamber, I suppose.

 

I apologize sir if I took your post incorrectly then.

Btw, my comments were directed at those drive by posters who joined not to discuss pm, but to throw out unfounded predictions and have us congratulate them on how brilliant they were. I do not have any problem with you, Peace, Inflexion, and othere who are actually willing to discuss the rational for our predictions or mindset.

 

Figure I'll be buying again this weekend. This year has already seen two distinct points where I also bought and could have turned ~10% profit at my LCS inside of two months, even after adjustment for their buy/sell spreads. Will this be the third? Added volatility from severely over represented PM paper contracts that cannot be and were never intended for delivery is today's pricing norm.

As long as the general trend in metals remains in the proverbial 'downward dog' state while my energy and food bills refuse to follow suit and the public debt mountain expands at record rates, I will not be losing sleep for buying against the advice of metals naysayers.

After all, this appears to be a nicely painted fiscal corner to me. We must decide for ourselves what to believe about future repercussions thereof. I've sided with the Austrian camp, if only because that is the group that best reflects how all of us peons are obliged to run our own households. Allow me to monetize absurd amounts of personal debt without the associatively near immediate, possibly caged results and I'll be sorely tempted to join up with the Keynesian crowd. Sadly, unlike dear govy, I can't point a gun at several hundred million wage slaves' heads and call it 'full faith and credit'.

Lastly, I'm always more impressed by prognosticators when they do as well in their investment returns as Marty McFly could have done with his future predicting sports almanac. At this point, that amounts to a turn on a phrase: 'show me the shorts'; for both then and now. Avoidance of loss is at best a theoretical win in that regard, but it goes better to show that at least some reasonable doubt undermines the general air of certainty being claimed, does it not?

BTW - I'm currently rooting for sub $15 silver since none of my 'trucks' are scheduled to be 'backed' this weekend.

 

I want to go to the Raleigh show but have to work. Going to save my money for the big show in October in Greensboro.

 

Just curious how much of this silver purchased at $6 you still own?

 

Silver still may be readily available, but try to find graded platinum. Apmex put it away. All B/S/T discussion -requests must be in advertising subforums.

 

I was just wondering about the jargon? What does "technical(s)" mean in the non-real money buying crowd ?

I know technical, but I cannot figure out what you financial people are talking about.

 

Shorthand for technical analysis. Here is a comparison of it with "fundamentals analysis".

http://www.investopedia.com/university/technical/

 

Kind of par for the course in the pm section. We can get a little heated, me as much as anyone, but most of us know each other and try to keep it respectful. I don't envy Jim having to moderate this section. I think he does an excellent job of showing restraint. I probably would have booted all our rears off here long ago.

 

Oh, I still have roughly about 2/3 of it. I sold off some ASE's, and all but one of each type coin of my Canadian Maples, but I kept ALL of my Mexican Libertads. Average buy price? About maybe 6-7 bucks, maybe a tad higher because ML's have always had a higher vig. Average sell? $40.40.

 

Well then, there you have PRECISELY why you SHOULD be a Keynesian, but instead you err and go Austrian. What we peons do, and what governments should be doing, are SUPPOSED to be 180 degrees opposite! That's the entire point!

By the way, I never "short" anything, ever. That's investing on credit, a fool's paradise. If I believe it's heading south and I own some, I sell some. If I believe it's headed south and I don't own some, I count my blessings, but I NEVER short.