Silver getting crushed today

Discussion in 'Bullion Investing' started by Soiled, Apr 1, 2016.

  1. mikem2000

    mikem2000 Lost Cause

    The larger dealers are most likely hedged, so business as usual As always though when the spot price goes up, the product price goes up immediately, but when spot goes down, the product price really lags.
     
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  3. Santinidollar

    Santinidollar Supporter! Supporter

    I don’t think the large dealers are going to miss any meals. They know better than anyone that markets go up, markets go down — and they’ve had plenty of practice in dealing with both.
     
  4. abuckmaster147

    abuckmaster147 Well-Known Member

    I cant wait to see the gold shows this fall they will all be crying about overhead costs I bet. So what do you think about silver I can still pick up generics at ten ounces at cost
     
  5. Santinidollar

    Santinidollar Supporter! Supporter

    Compared to the other precious metals, gold is holding up pretty well. The drops today in silver and other PMs are fairly spectacular.
     
    Last edited: Aug 15, 2018
  6. Don P

    Don P Active Member

    It's amusing to see the psychology of the people as they sell when prices go down and then try to get in when prices go up. Fear of missing out! FOMO
     
  7. Don P

    Don P Active Member

    Same here man. It's fun to see how this whole thing will play out in the next 5-10 years. There are so many economic issues ready to implode! :)
     
    longnine009 likes this.
  8. desertgem

    desertgem Senior Errer Collecktor

    Halloween is approaching and may be a little early with its effects :) Look at dealers specials as a sign of upcoming problems. Follow the money. IMO only,
     
  9. Sallent

    Sallent Live long and prosper

    What are you all talking about? Silver is going to the moon! To the moon!

    giphy.gif

    Uhm, did I say moon? What I meant to say was "a hole in the ground.":rolleyes: Yeah, nothing to see here folks.
     
    Clawcoins likes this.
  10. desertgem

    desertgem Senior Errer Collecktor

    Sun Tzu's saying is true, but the assumption is that one can recognize when there is weakness and when there is strength. Bullion can be an investment, but the vast majority can't recognize bottoms, near bottoms nor tops , near tops., so they buy, buy as prices go up and sell , as they go down. The main problem for most hoarders here, is they do not want to sell NEVER ( zombies you know) , and buy when going up buy as they are sure this is the time it hits $100s or more ( Bullion sellers say so), so they just hoard and bypass the chance of an investment paying off.

    I understand the allure of " Sparklies" so if someone just collects it because they like the shine, I understand that ( look at my avatar), but to think and tell others they are investing, is misleading themselves,and newcomers who do not fully understand the mystique of "Sparklies" even though all can be affected. Jim
     
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  11. Clawcoins

    Clawcoins Damaging Coins Daily

    Sparklies ...
    [​IMG]

    from a unicorn
     
  12. Santinidollar

    Santinidollar Supporter! Supporter

    Whatever happened to Sparkles the Unicorn and his .... errr .... unique keeper?
     
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  13. Silversloth

    Silversloth Member

    Oh the days of the $400 kilo...
     
  14. Clawcoins

    Clawcoins Damaging Coins Daily

    I'm just duly impressed by the precipitous drop today .. and it's still going after hours.
    upload_2018-8-15_15-55-50.png

    upload_2018-8-15_15-55-9.png
     

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  15. desertgem

    desertgem Senior Errer Collecktor

    I am waiting for the "Back up the truck" comment soon to come as the bugs who have bought all they want and too much in some cases, attempt to drive the price back up so they can sell ( bullion advocates). I think the poachers cut off 'Sparklie's magic silver horn" :)
     
  16. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    [​IMG]

    I only check every month or so. But wow. That's impressive.
     
  17. Santinidollar

    Santinidollar Supporter! Supporter

    Investment markets are kinda screwed up right now. Dow dropped an unjustified (IMHO) 400 points yesterday before recovering much of it over Turkey’s problems.

    Today, Larry Kudlow said the US will resume trade talks with China and the Dow stages a near-400 point relief rally, which your humble narrator suggests taking with a grain of salt.

    Same thing may happen with PMs — a relief rally or two if the dollar weakens, for example. I think it’ll be a good idea to tread with caution.

    Just my 2 cents, though these pennies have been around the block a few times.
     
    Nathan401 and Randy Abercrombie like this.
  18. Brian Calvert

    Brian Calvert Active Member

    I was like that with stocks for years, the biotechs I make a fortune off of. Learned to set a price, sell, then move on not looking at the stock again, good or bad...
    Buying and AVG. down is all I know now.. I never did metals until 2014 so I am clueless. I do keep looking back at the 2008 crash and how far the metals fell with the stocks.
    To think the market went to 13,700 on the dow in 2007 and then was cut in half, Silver did the same thing with that Free fall late 2008 all the way to 9 bucks. I will look for that, but we dont have mass real estate Credit default swaps this time. Just mass corp. borrowing that should be the downfall if this thing slides backwards, a fast move can hurt even the best laid plans for big corp.
    The Movie "Margin Call" mortgage securities .... Sickening to watch and think of that situation. Lehman Bros... I like reading this thread because smart people are here, you guys know what you are doing. Someone should offer a class, webcast, podcast, whatever and sell it... Just make sure people can trust you, dont SELL THEM SOMETHING, just info... Set it up in 10 parts and teach through like a college.
    I still dont know where I will sell my silver and gold when it is time, probably the local pawn shop
     
  19. Brian Calvert

    Brian Calvert Active Member

    Really, Silver is very Cheap now, back up the truck, maybe not, that would be at an ALL AROUND flash crash like Nov 10th 2008. Damn if 15 doesn't look good these days...
     
  20. Clawcoins

    Clawcoins Damaging Coins Daily

    I was just reading an article how Gold was going to break above 1200 again ...
    so I checked spot price ... oops
    upload_2018-8-21_8-40-51.png

    SILVER
    upload_2018-8-21_8-41-13.png
     
  21. NumisNinja

    NumisNinja Active Member

    The question is not how low it will go, but will silver eventually be higher than it is now? If yes, then that's all you need to know to justify holding your position...or even buying more and dollar cost averaging as it goes down a little more.

    Speculating and making absurd price forecasts is too difficult and kind of pointless. Metal is like any other financial asset that can go up and down while unrealized profits and losses vascillate accordingly.
     
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