new silver buyer - what dip should spring a buy for me ?

what price dip should trigger a buy for me? i just bought 100 ase's a few days ago before this little swing up and im looking to get in with around 20-30K . im hoping for a little dip in price and just wondering at what price i should add. tia

 

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Please don't be offended, but if any of us could predict the future, we'd all be millionaires.

Chris

 

9Guns - I think silver is really undervalued right now so I don't worry too much about spot price. I'll start worrying about spot price when it gets over $25 an oz.

 

I find it more useful to buy half a position in something I want, then try to put the other half to work when the price backs off. For all anyone knows, today might be the lowest price entry point for the next decade.

 

Like any form of investing, timing the market is pretty much impossible. You could simply do what most of us do with our retirement plans and do a little dollar cost averaging. Since you want to spend $20K, why not do a thousand or so a week until you hit your desired investment level. You'll hit some ups and some downs (hopifully getting lucky and buying on the downs).

 

Agree 100%. I do believe now is as good as time as any. With all the industrial needs for silver growing world wide I dont see silver going any where but up. They also come in 1000 OZ bars.

Steve

 

I do not try to buy on any dips. I am not an investor. I am just a collector so as a result, I buy silver (silver art bars) when I have some extra money left over and it will not matter where spot silver is at that time that I buy silver. I just pay much more attention to what premium over spot silver that I pay.

 

Yes, I found that out when I started buying 100OZ bars. The price for physical silver they said.

Steve

 

does the spot move in after hours and on weekends ?

 

There is no spot movement during the weekend. Kitco gold and silver spot markets close on Friday at 5:15 PM U.S. Eastern Standard Time and the Kitco gold and silver spot markets open back up each Sunday at 6:00 PM U.S. Eastern Standard Time.

 

thank you for all your insight.

 

So very true...but since we cant predict the future of the economey we just :computer: .

:bigeyes:

 

i was just hoping to find a chart reader/theorist with some input.

 

9 Guns,
About the silvermarket or what, I follow it closely and feel like chatting , and my opinions while not always right, are free.

Steve:hail:

 

yes, like i said im looking to get 20 or 30K into silver. just wondering if i should buy a little more this weekend or wait for a dip in price.

 

i can get some ase's right now for $19.93 a pop and maples for about the same.

 

I dont think its going lower anytime soon. I spend thousands on silver and Im so glad I did. The mines cant keep up with demand at this time. Its important you dont but paper silver. Buy physical silver. The world is demanding more and more as technologies evolve. The demand in electronics grows greater every year. I see silver at $50 an OZ in five years or less. Mark my words.

Steve

 

If you have 20-30 Large what are you doing buying in such small quanities?

Steve

 

i cant find monster boxes for less $/oz than i can buying 100/2K at a time.

 

That is a very good price for ASE's. They usually sell for a much higher premium. You were saying in your previous post that you wanted to get $20K or $30K in silver. Let's take $20K as an example. You might want to put, for example, only the first $5000 of that $20K, in silver with spot at $19.17. Silver has in the past had trouble several times closing above $19.50 and that is telling me that there is resistance at the $19.50 range.

It is certainly possible that silver could break $19.50 and run past $20 but then again silver could fail to finish above $19.50 and fall back to $17 range (or lower). No one can predict what silver will do in the future but you can dollar cost average your way in.

If silver fails to break the $19.50-$20 range and falls back to, for example, $17, then you could put another $5000 in silver if you can pay a decent premium on silver. If silver continues to fall and goes to $15-$16, then you could put another $5000 in silver, and if silver still continues to fall and goes to $14 (or below), you could put the last $5000 of the $20K in silver. Dollar cost average is your friend here. Since nobody knows what silver will do in the future, it is hard to say how much to dollar cost average but it is still a good idea to do it. You cannot time the market and silver is so volatile anyway.

Since it sounds like you are buying silver as an investment, then I was using this hypothetical as an example. Cloudsweeper99 makes a lot of sense in his previous posts about putting part of your money in silver instead of the whole lump sum amount.