Silver getting crushed today

Personally, I would say that if you are trying to micromanage like that then you probably shouldn't be in it. I recommend buying it with long term horizons and so minor daily fluctuations shouldn't make that much difference.

 

Log in or Sign up to hide this ad.

If you're going to get that technical than you watch the Kitco Chart non-stop. I agree with Sakata, you're not going to make a huge kill by trying to buy in those windows during one day.

 

If you're buying physical silver pieces, it won't matter. If you're buying contracts, umm, this is called "CoinTalk".

 

Thanks sakata and Bman! I am in no sense trying to micromanage and flip silver in the short term market. I was simply curious, with 'buying low' in mind, if folks had some sort of pattern they follow.

 

I do, indeed. I buy when I have cash which is not needed for anything else or is likely to be in the near future.

 

The only time where daily timing can matter is when there is a specific event that is about to take place, like a Fed meeting or something. Metals often swing around before and after. In the grand scheme of things, it doesn't really impact modest sized purchases. A $0.30 swing in silver is all of $6 on a tube of silver eagles... Trends over several days, weeks, or months matter more than daily or hourly blips.

 

Be careful from buying anything "in a hurry" from the big guys as their "spot" price doesn't necessarily follow spot price. They'll even float their premium from their own website's spot price to maximize revenue.

I've watched buying ASEs over time now and have watched their premium rise over spot. So if you see a 20 cent price dip don't expect web prices to dip at all. They'll follow a upwards moving trend, but be really sluggish on anything downwards and will average up.

I haven't kept a spreadsheet or anything about it, but just have noticed it when there have been large dips and large quick downward trends, and watching their average pricing during downwards spot pressures.

 

If there were such a pattern, people who make their living buying and selling silver would recognize it, and time their activity appropriately. Enough players doing so would act to raise prices during the "low periods" and vice versa. This would level out and erase the predictable fluctuations.

If fluctuations are predictable, it's not a well-functioning market.

(Yes, there are counterexamples -- for instance, gasoline prices rising during summer travel season. Predictable shifts in supply or demand are a separate issue.)

 

A significant event probably is on tap for next month--a Fed interest rate hike. Gold tapped below $1,200 the day before the last increase. Don't be fooled by the runup to $1,300: there was a lot of political conflict that has since cooled off. I don't see anything going for PMs now except a downward trend, IMO.

 

There's a lot of ways to say buy low sell high. I like: "Supply demand, demand supply." From some guy named Marty (I think) who traded on the NY Merchantile Exchange according to the book I read around 1990 +/- 5years.

He sounds all astute and knowing doesn't he? But he wasn't really saying anything new.

 

WASHINGTON (Reuters) - The U.S. Federal Reserve kept interest rates unchanged on Wednesday and downplayed weak first-quarter economic growth while emphasizing the strength of the labor market, in a sign it was still on track for two more rate rises this year.

 

So... I ask again, how low is "down"?

May the Fourth be with you.

 

Keep an eye out for the Viewpoint article in Numismatic News in the edition with the face date of May 30, actually being published next week. On this topic and By your loyal servant...

 

ASE prices haven't changed much unless you buy a ton of them.
if you buy 5, 10 , 20 the prices haven't changed much. More premium for the online places.

 

Nobody likes to take a loss on sitting inventory.

 

Yes, but what I've seen is when silver drops people go running to buy. Without actually looking at the price changes, etc. They just buy, at inflated prices when they think they're getting a bargain.

Unless you buy spot + fixed amount on certain things, and track those too.

 

From what I've seen over the years, a retail physical buyer usually does the best in a GRADUAL upward market.

 

http://www.marketwatch.com/story/he...s-thinks-the-gold-selloff-will-get-2017-05-04

 

Yup, I certainly don't believe in buy whilst prices go down.
Wait until they start moving up again.

I did this same thing with stock. it pulls down. I wait for the buy/ask spread to minimize, then slightly go up and BUY. So far so good with my latest SQ stock as it's jumping today.