Pounce or stalk?

I think I might lose my lunch if silver hits $7/oz but since I'm in it for the long haul I would just ride it out. If anything I might expect paper silver to get that low as it diverges from physical. I would argue that the surge has already happened in China. They used to be a net exporter of 200 million oz, but imported that much in 2010 which is a hefty swing when taken as a percentage of global mine production. Then again, maybe margin hikes and massive shorts will bury the shiny metal when we least expect it. Either way, as long as real interest rates are negative I will feel good about my stash no matter what the sticker price.

 

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You bought silver from a Bank.....why? I still don't know why people insist on doing so and expect to get a fair deal. The banks get rich by ripping people off every way possible, including bullion sales.

 

Silver sales have slowed since the last big drop I still think it will drop some more and I'm waiting till I see $32.50 CDN or lower before I buy more. I mostly hold 99.99 Maples with some privy Maples but now I top up with 999 bars.

 

My buy point is when everyone stops talking about silver.

 

I think it will eventually fall to 18-20 and then gradually start a slow climb to around 50!!

 

Awwwww! 50?????? ::dead-horse:

 

And how often do you hear people talk about the dodo? ;]

 

QE3 is coming so you won't see 18-20 silver.

 

I will be shocked if silver get's below $30 per. And if it does, I will be backing several trucks up.

 

^ I agree, I don't think we will see $30 silver again. It was sitting at 32.40 over the weekend and I said I'd buy more @ 32.50 but silver is still bearish and I'm reading that this week will be a bearish week for silver/gold so I'll just keep watching hoping for 32.00.

 

Much as I hate to say it, if I had a boat load o' shekels to spare, I'd buy a few rolls of ASE's....

 

Silver's only traded over $30 for a matter of months. It could drop and stay below $30 for the next decade.

 

^ Yes we can just ignore the world currency / dept crisis and the supply and demand of silver. Your thinking in a very narrow way.

 

I bought a roll of ASE's last week. I bought Gold the last three weeks before that. When I sell the silver, it will simply changed to gold. I'm thinking silver will move over $50 per around the middle of November. It's not going to stay in the $30's past the end of September. You can throw this in my face Dec 1 if I'm way off base here. If I am wrong, I will just continue buying. If it doesn't get to $70 in my life then my daughter will be the one to make a killing with what I'm buying now.

 

I would start pouncing now! Sure it may even go a little bit lower, maybe even float down to $27-$30 range for two days but you don't want to get stuck into the trap of never buying because you think it's gonna go lower. Buy some now, you'll be glad you did! :thumb:

 

This is how I look at it as well. Say it goes down even $5.00 per oz and you can save $100 on a roll. If you are in it for the end result it's not a big deal to pay a little extra to solidify your position IMO. It will certainly be better than not having bought by the time this train leaves the station. Even with increased mine production the world is using approx. 200 million oz of existing scrap silver every year. If the trend continues on that same pace it leaves between 3 and 5 years before there will be a supply shortage as above ground available silver is estimated between 500 MOz and 1 BOz. I think it will be sooner personally due to increasing industrial usage, most notably solar panels and electronic devices, demand as a hedge against currency devaluation, volatility in many countries doing the mining, and maybe most importantly is epithermal deposition which indicates we've tapped all the easy to acquire silver veins (see link below).

http://www.silverinscripture.com/articles.php?id=30

 

Very good article InfleXion, even at today's spot prices everything makes sense. I have read that 90% of the silver mined has been used up in industry. If this is true, silver will rival gold at some point in the future, although not in our life. Most of the gold mined is still a physical metal.

 

David Morgan and many others are predicting weakness in Gold & Silver in Q3 with Gold in the mid 1400's and silver to stay in the 30-35 range. For Q4 a bullish trend with gold again 1500+ and silver 40+. I will stalk until I see $32.00.

 

The weekly technical indicators looked way over sold as of last Friday. I purchased more ATB 5 oz bullion Monday evening @ $33.95...just seemed like a good price. Wish I had more spare change but with the Mint pumping out two 2010 ATB "P" coins a month and a proof ASE, it's getting harder to find spare change. LOL

 

I guess the right answer was to pounce anytime from Friday to Monday.