The USD will not disappear in one week, so if you get USD from selling silver, convert it to what ever you want. If you are TOTALLY SURE silver will continue up to say $60 by June, why not buy 10 of the SLV June 55 call contract. Currently for $680 you can control 1000 oz of silver until june expiration. Even if silver just hits $60 by June expiration, you should have $3000 or more, and you can buy 50 ounces of physical silver then.... Of course if you are wrong, you might lose the total $680, but that might be cheaper than buying the physical now and having it lose value in a dump. Jim
did you actually lose money? I say this cause my dad lost about $21,000 on his own back in 2008 and he complains about it all the time still...but...he's actually a bit higher now then we was before the crash cause the market went back up...dad moved his investments once they went back up to much safer investments...so I ask are you still at a loss now? my opinion is you only lose money when you buy something at too high a price or sell it at a lower price then you paid...anything else is just paper moving around...
I will not sell December $50 calls that because I do not understand calls and puts. I did, however, sell some 1-oz common minted '70's silver art bars to a local dealer for a paper profit at various times during this silver run up. I used that paper profit to buy some very rare 1-oz '70's silver art bars that were on my silver art bar wish list. In other words this silver run-up allowed me to upgrade my silver art bar collection to consist of more rare silver art bars that I wanted. Since silver willl NOT hit $50 this year, It was smart for me to go ahead and take a paper profit on the common minted '70's silver art that I no longer wanted and to use that paper profit to buy the rare 1-oz '70's silver art bars that I was looking for since this is my hobby. Despite my gut feeling prediction that silver will NOT hit $50 in 2011, I am still buying silver but I am a collector that is concentrating on buying the rare collectable 1-oz silver art bars that were minted in the 1970's. I also want to state to you that I am just a silver art bar collector with an opinion about what silver will do in the short term. I also want to state that in the long term, I think that silver will eventually hit (and surpass) $50 because the long term negative fundamentals did not change. In the short term, it will get smacked down and it will not hit $50 this year. BTW I have stated my gut feeling prediction on 2 other threads. I think that the "No $50 Thread" was closed and I could not state my gut feeling prediction.
I want a full set of those $2 bills and along with 2,222 of these so I will have over a ounce of gold https://www.official2011buffaloproo...m_source=dtm&utm_medium=CPA&utm_campaign=7805 it's gotta be a good deal to get...I mean it's on TV...so you can trust 'em...ALSO it's a piece of history! and everyone wants to own history!
This is the second time I've seen you say this. I'm gonna remember this thread come next.......Wednesday!! lol I don't think I'm going out on a limb with a prediction like that now. Until the market shows some type of pull back or stabilization to the contrary, the sky's the limit. I was bearish a few weeks ago but this is ridiculous. I'm not a credible source of advice on this matter. All I can offer is the fact that I sold a little at 24, 34, and traded a bit in at 37.00 on a coin. Every single time, and I'm talking widely varying time frames where I've let a little go, it starts moving up again within days! I'm not letting a thin dime go for the foreseeable future. $50, $60 or $70. Don't really care. It's entertainment now. I would think the new highs would suppress any crash (some) now. Since people would be backing the truck up at $15 and many dealers/collectors could not afford to sell anywhere near that low now, we'd be lucky to see anything in the 20's again is my guess. $25 would be a major crash now and we were below $20 for 3/4ths of 2010. I just ran across a statement from May 10 last year. I bought a 2010 ASE for $24.95. That was a shipped price less than a year ago. It's easy to get caught up in it all but I'm trying to keep some perspective of all this.
IMO, Silver will hit 55, it will drop to 20, and then it will shoot to the moon and there is no SAYING where it will stop. All I know is that when it drops below 25 I am spending 50% of my savings on it.
very good post. I've studied the commemoratives and come to the same conclusion. I think some of the uglier spouses are last on my list though. someone with serious money should be buying platinum sets.
I can't wait to see if this prediction comes true or not. I'm betting against it. $50.00 is quite low. The correction is happening now. They may "smack it down" but I see triple digits for silver in 2012.
Yakpoo, OK, gotcha. But I definately do not aggree. We shall see though. I could be the wrong one. As for the gold thing. That was the stated reason for doing it. And it was edited. They needed a reason to devalue gold and take paper money off of gold standard. You cant manipulate the value of the dollar as easily if it is locked into the value of a precious metal. You have to go to great lengths to devalue that metal to be able to manipulate the paper value. And look at was has been done to the dollar in the last 50 years. It has been manipulated and devalued to the brink of Zimbabwe money. I dont think it will actually get to that point, but its closer than it needs to be. Anyway, the devaluation of gold and silver was able to hold and continue so long as edited didnt wreck our economy. But when you have one idiot spend his butt off for 2 wars and lots of other crap and follow that with the aforementioned Edited you have the climb we see now. ting to the The price of those snickers bars WILL be going up BTW. All food prices are. edited That aside, PMs are now get level they should have been at. Think about it. To use the snickers again... A snickers bar in 1980 cost a lot less than a buck. More like a quarter. That snickers bar was at a buck just before PMs went up. What percent increase was that for the snickers bar? now, what percent did silver increase in that time?Again, NO HUNT BROTHERS. The percentage is a lot lower. Sooooo, you think the value of a snickers bar should increase more than the value of silver? No way. If you haven't read the posting rules, please do so. Carefully. Thanks ~ Jim
LOL The sad thing is, any real discussion about PM prices is going to involve government practices and BS.
The posts fall into the range of political rants and language. Any further will have consequences. You can discuss political problems without such. Jim
But what if it doesn't pull back all the way to 20? 20 is a nice comfortable buying point, but the market is not likely to be so decisive. What if it corrects back to 40 next week? Is that a buying opportunity, or do you still hold and watch? What if it drops back to 33? Do you pull the trigger, or do you look a larger drop back below 27? I missed catching the train during the February pull back to 26, waiting for it to drop 23. I regret that bad call.
we really don't know the crash happen in our life.it comes accidentally to us.That's why we have to take care.
Well silver has come close to $50. The thing is, people are just going to wake up and realize that this whole thing is ridiculous. Would I dump money in CHEAP silver at $15 an ounce? You bet. With the shot that this could happen again, it would be worth it, but than again it may take 30 years like it took this time around to go anywhere.
