Silver drops nearly $2 in several days?...

What do you guys think about this? Time to buy?

 

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Its down to $14.85 now....

http://www.indexq.org/

Bookmark it, nice link

 

Bookmarked! That is a nice link. Thanks!

 

Don't sweat the dips after you just bought. This is part of buying in and partly why I cautioned buying novelty and graded bullion. Got to watch your premiums because they get steeper when PMs take a hit. Some folks spread out their losses by buying more PMs when prices decrease so they don't have investment in at only one price point, and look at dips as opportunities to buy and level out their overall average investment.

 

That's a very good idea, too bad I won't be able to buy any silver for quite a bit

 

Well, this is a good time of year if you can run some online auctions, or sell off some things you don't need for cash since people are more in the shopping mode. If you can clear out some materials stuff and make some cash to put into PMs or to tide you over while PMs are going lower, then you won't have to sell any silver and take a loss.

 

The catch is that you can't tell a "dip" (a drop followed by a rise) from "just another part of a long downward tumble", except in hindsight.

I remember someone telling me that the best trading strategy was to buy things that were going up, and sell things that were going down. My response: since you can't foretell the future, all you can do is buy things that have gone up and sell things that have gone down -- in other words, the opposite of "buy low, sell high".

I tend to be a contrarian, so I'll probably buy some more silver during this dip or this stage of the avalanche, whichever it turns out to be.

 

That's a very good point!

No one has functioning crystal balls, just the balls to take chances buying when one can afford to do so. It's not good to buy if it's going to cause other financial distress by locking up funds or "dips" hurt.

One of the things with buying PMs that I like to figure out it where physical fits into my overall investments. What percentage I'm willing to hold at any given time and to only work on that percentage of physical PM holdings when I'm able to weather it with essentially disposable income.

 

the falling knife thing (do not try to catch one). Maybe an Eagle or 2 or a few silver quarters. Wait to see the bottom in the rear-view mirror. This bear could take her down below $7.

 

And, for what it's worth, the "spot price" indicator visible from this forum is stuck at the prices from several days ago. If anybody knows anyone offering to buy at those prices right now, please let me know.

 

Yeah, but most people still mind the sites like Kitco that display what's going on in foreign markets like Asia which are open and likely to set the price trend for the day ahead.

 

Silver is around 14.50 in Asia following the Swiss referendums on gold ( it failed), so the slippery slope will probably continue.

Why would anyone buy more than $100 worth at this point in time except to give as gifts ~ certainly not for "investment". It will still be there next year, and the odds are that it will be at a lower price. It is not a religious icon, so don't worship any commodity, Buy and Sell it. If you do want to buy large sums, pair it with a put contract for protection.

 

I thought that the widget here was based on the same info sources, and would stay reasonably up-to-date in its tracking. I'm not sure it's updated at all since last Wednesday.

 

One shouldn't be too concerned with how low it goes short term, but instead how long it stays at that level~ years, decades....

 

I'm not sure how long you've been into precious metals, but I wouldn't let the daily fluctuations get to you too much. If you watch the spot price too closely you may drive yourself crazy. I only occasionally check the spot price unless I'm about to buy though I only stack casually.

 

Silver is actually up this morning trading at $15.73.

 

I don't mind the dips and peaks but wish that prices had a chance to follow the dips. Seems instant increases, reluctant dips!

 

Woah! We're back up!

 

Such are the markets.

 

We are up $2 today from last night's low of $14.58. Somebody must have made some money if they were able to buy at that price last night!