When should I sell my silver

Well, yeah, but if I've got one commodity that's leaping 3-4% a day and one that's going up less than 1% a day, I'm happy to delay the conversion.

 

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my friend sold her silver when it hit $20 and she told me to do the same. I really meant to sell but I was too bust/lazy. Thank God for laziness!

 

If you have to ask (when to buy and) when to sell, you shouldn't be in the market.

 

After watching the market M,T,F are great sale days,W, Th are usually good for late day buying!

 

Unfortunately this is a coincidence. Unless you have proof that institutional traders are active on M,T,F this means nothing

 

Turd Ferguson is prediction a short term beatdown of Silver going into the long weekend, with the price resuming it's run on Tuesday. This is good info for the traders to work off of, but the holders of physical should stay the course. The Silver train is still on track. Selling now is a mistake, just like it was at $20 or $30.

 

..Surround yourself with wise counsel..

I try always to do that, particularly with metals and money.

 

The bad news is that with $40K in gains, you probably are no longer in one of the two lowest tax brackets.

 

True.

However, reading the thread starter's posts about silver bullion, he made his purchase based on what he saw others doing. As soon as he posted he had purchased silver, he asked about selling it.

(Meanwhile, he posts about how he thinks silver will go to $50 on 4/20/2011, because he thinks so. No proof. Just a hunch. FYI: $45.77 as of this post.)


Now, to me, he should not be in the silver market at all because he blindly picked an entry point and didn't have any clue about an exit point. He doesn't understand any of the basics of the macro picture: The Fed, T-Bills, Benny B, Timmy G, Interest rates, the CPI, the Fed's current use of the CPI without FOOD and GAS, China, Silver ETFs, why people are in panic mode, housing prices, housing starts, homes sold, etc. The list is dam near endless.


Nope, none of that. It was a "I see that silver is going to the moon and I need some." BAM. He got some. Now it's a "where do I get off this train??!?!"



News flash to all: this ain't a train. It's a roller coaster. If you don't have the stomach for $50+ silver, $10 silver, and all points in between, you are buying silver for all the wrong reasons.

 

I agree with you, right down the line Vroomer. I guess I was thinking, gee, that's the whole question in my mind, and here I am looking at what other people are saying, with hopes of seeing the larger picture.

Roller coaster... my very favorite ride!

Lucy

 

Fundamentals haven't changed since the response to the housing bubble burst in 2008 that sent this bull off and running. The dollar index is the primary driver of commodities right now IMO, although vroomer is right there are many other contributing factors that are boosting things. It is interesting how much better silver is doing than gold, which I attribute to silver being more affordable for the average person entering the market more and more as global instability continues to raise eyebrows. In summary, I see no reason to sell unless you are trying to squeeze the short term play, which is too risky for me. I like knowing I have my PM's whenever I need them.

 

No one here thinks that maybe silver is being driven up more than other commodities because its a very thinkly traded market? Thinly traded markets are more subject to price spikes, and price movements bring investors interested in only movement, one way or the other.

Just a thought.

 

It's a good thought.

 

I think you hit the nail on the head!

 

Guessing game contest on the price of silver, just a heads up.

http://www.cointalk.com/showthread.php?t=169088&p=1161227#post1161227

 

I think now. Who knows when the price will tank. I'm sure you will be getting much more than you paid for it. Just me!!

 

Whenever an actual financial need arises, or you simply feel you want to cash in some of your chips. Hopefully the latter is at a profit.

 

will it tank? I called below $30 by July but I dont thnik that is going to happen now

 

this might be bravo seirra but I heard that there are naked shorts that have to be covered and there is not enough silver to cover them. anyone else hear of this?

 

Yes. Heard and read the same thing too. Go read Zero Hedge. Check out SilverGoldSilver's YouTube videos.

True or not? There's a report by the Feds and someone holds more than the 10% MAX they are allowed. 10% being the total contracts in the COMEX.