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<p>[QUOTE=&quot;medoraman, post: 1162105, member: 26302&quot;]I don&#039;t get that impression Winged. Any post that Cloud and I have made is more one of caution. I have never said I know where silver will be, just talking caution and moderation. When price movements like this happen, as you have seen, lots of new and excited people get interested in it. We were just trying to analyze valuation, and temper some enthusiasm by bringing up the point that 1) fast moving markets are frequently very volatile down as well as up, and 2) Frequently in todays time there are larger players in a market that you do not know about until long after a bull run is over. I am speaking specifically of the run in oil up to $140, and the fact that it took about 2 years for everyone to see the hedge funds that were involved in this market. This was in the oil market, probably 1000 times larger if not more than the thinly traded sivler market. </p><p><br /></p><p>The other caveat I try to let people think about is physical PM is not like other markets. To buy physical silver today you will have to pay a premium over melt. If tomorrow silver drops to $39, if you try to sell you will have to take a pretty steep discount to melt. Its a very high transaction cost market, and it gets much worst if prices are falling, its not like stocks or bonds where you can sell at the market price anytime you feel like exiting. Therefor, physical PM is an investment best suited for long term holding to try to overcome these deficiencies.</p><p><br /></p><p>Most of us here love PM, why else would we participate on this board? This is not a general chat board. I would say most people here are enthusiastic about silver.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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