silver pulling back to $20.50 ?

i just saw a wall street trader talking about the impending strong pull back in silver down to $20.50 (the 50 day moving average) ... he thought at that point it would be a huge buy as silver's next push would take it towards $30

interesting thought

i think a pull back here is completely normal and to be expected after the fast steep run-up we've had; however i have no idea where the bottom of the pullback will be or how long it will last.

of course predicting these things exactly are hard to near impossible!

 

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I personally do not see silver dropping to 20.50 / ounce. I believe silver will continue to make us smile for a while to come.

 

I hope so, because I want to buy!

 

Likewise!

 

I think it may drop slightly for the next few months, but rebound hard. Too much industrial demand, too much demand for jewelry, too much demand as an alternative to the other PMs.

 

You keep saying it and I keep reminding you that you are saying it and yet the gap continues to widen...

 

We go through this about twice a year.

I think the dip will be over in a few days. Like all predictions of the future - no guarantees.

 

I knew it wouldn't be long before you chimed in to remind me about holding out for $16/oz. I did however receive a $500 bonus at work the other day for good performance. It may be time to put it to use...

 

Don't let me persuade you, just putting a reminder in your ear as usual.

Only you know how best to invest your money, in what you choose to invest in and when to do so to meet your goals.

Congrats on the bonus check too! That must feel great. :thumb:

 

As pointed out by others here, most everyone wants to buy at that price. I noted the stock market fell again today. I believe the profit taking is short term and we should see a rise throughout the rest of the week. Currency still is questionable, so PM's are in. IMHO

 

As an IRS auditor once pointed out to me also. You should be the one keeping track of it, and you should know it better than anyone else.

ps. I got money back, too. lol

 

It sure does feel good, but purchasing a few dozen ASE's when silver was $17-$18/oz AND having a $500 bonus would have felt better.

 

It seems by todays early movement, that the profit taking has subsided ?

There went the slide. IMHO

 

yes, that would be funny if the pullback only lasted 1 day ...

i think trying to predict stocks, commodities, etc. is near impossible.

basicly, if you believe in something long term, you buy it ... and not worry about short term trading levels.

still nothing just goes straight up and up and up ... everything needs to take "price rests" ... they call in "consolidation" in the financial world ...
a healthy thing that makes prices more stable

 

I'm the anti Elaine...I make prices drop to my feet and scare her away

you should have bought in yesterday like I did with my 26 wolves . I couldn't have timed it any better so instead of timing it I just bought it when I noticed it dropped 80 cent/oz

seriously though that's basically my buying strategy...watch drops and buy in...and if it drops more and I have more money...I buy in more...wish I could control the prices of pm's... I'd drop them for a day to $1/oz and buy all I could then next day raise them to $50/oz, sell, and repeat...I do think it's a upward move for silver indefinitely unless we start to get deflation somehow... it's just the way it goes...just wish it would actually stick side by side with inflation and not be a bs hedge like gold...basically it's all about keeping as much buying value "water" in a "bucket" or (cash = fiat currency) eventually you'll have nothing in the bucket cause it is little by little evaporating out...

 

The underfunding of the market plays a huge factor in the fluctuations. I mean the Hunts had to remove several thousand tons by freighter to Swiss vaults before they could even begin to create an upward momentum. I doubt today anyone could pull that off and not end up in a 4x6 hotel room ?

gary

 

That's a great move!!! Good for you.

Actually I am maxed out on silver as I bought over 1,200 ounces back when it was $17.30 to $17.60 spot in November 2009. At the time I was p_ssed that i had to pay 15% to 19% over spot for silver eagles (thought it was robbery) ... bought a massive number of eagles around $19.99 per coin -- i also bought 1/2 bag of circulated Franklin Halfs for only 5.2% over spot to reduce my margin

It's interesting but as the price of silver has risen ... the margin over spot has come down ... today the (dealer retail) margin for ASE's is around 12.5% and Circulated 90% bags have come down to near 1% to 3% over spot. Of course silver is much higher now.


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I'm not a danger to pull off a hunt bros scheme but I do think we all are...think about it how much effect "hedgers" "numismatists" "investors" and any odds and ends have on the cost of pm's right now...maybe we all need a 4x6 hotel room in a county "white collar resort"

 

I was going to get those wolves no matter what cause I got hooked on them for the beauty of the coin and will be getting 26 of the future releases of the series. A 25 pack for me and 1 for my dad...that drop in price made the one I'm giving my dad free and the shipping price from apmex too so I guess we both got something for free from it so I'm happy.

 

those wolf coins are really pretty. i think it's the first coin i've seen with a wolf on it. if you like wolfs, rent the movie "Never Cry Wolf" -- superb film.