It's a shame. We have a CT member who took what little he had, and bought silver months ago to help during retirement. It's things like that which bother me the most. He must be depressed and in shock. I hope he can manage this.
I bought some yesterday, but probably paid too much. When the dust settles a bit I'll buy a little more.......
Silver dropped to less than $10 in 2008, then went to $50 in 3 years. That CT member will be okay as long as he doesn't sell in a panic now. Wait and see what happens in the next couple of years. I can't see it dropping below $10 again, but if it does, I'm buying.
Just sold $4.75 face of silver Saturday. I usually sell whenever I get some from roll searching, so I don't ever really "lose" money doing this. I just make less.
Probably got tired of having his sound advice and experience rejected and finding himself fighting the same battles with PM pundits of too little experience and closed minds refusing to learn or heed advice. The ones who should of listened probably wish they had and so many of them are all too silent nowadays to admit if they got themselves into a bind over PMs. I miss Cloud's perspective as well.
A while back, Peter was asking for names of inactive former members we thought contributed to the overall quality of CT's posts. He was going to try and bring them back as active members again. Cloudsweeper was one of those I submitted. I"m sure many others did as well. Without looking it up again, I think his last post was towards the end of 2013, or the very beginning of 2014. Then he just stopped abruptly. I really enjoyed his comments and the thoroughness of his explanations.
Anyone catch the fact that the 10% plunge in silver last night has completely gone away? Caught that one at the right time, that is, until we hit $13.25 in the next few weeks.
I really don't know what happened, but somebody somewhere made a lot of money buying at 14.58 and selling at $16.58 today. I was thinking about the volatility of silver and how some people must do okay with that. I am a buy and hold kind of person, but I can see that there is wisdom in Warren Buffet's saying "buy when investors are fearful and sell when they are greedy."
In percentages, it was a big move. At $30/oz, a $2 swing was a more regular occurrence. Maybe i've been desensitized to it all, but the huge swing while noteworthy, didn't set off that "I must pawn the car" feeling I once thought I'd have.
