Silver getting crushed today

Can you spell safe haven?

 

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The problem is, the 20% thing only exists for the US.

Canada, rest of World it doesn't affect. So spot should be adversely affected by lower non-US spot.

US - constricted supply. World, no supply issues. Confusing. I wish I was in the heads of the PM Silver Futures speculators.

 

This is where the difference between "investors" and " speculators" and "stackers" occur. Investors have a long term plan of accumulation and distribution of PM as it blends with their other long term investments such as properties, stocks, bonds, etc. Speculators are those who want to jump in and then "know " when to jump out, keeping the cash , and wait for the next time. If they are successful, they will make the largest amount over time, If not successful, loose the most. Stackers, plan for the downfall of cash and civilization , so they can feel secure. This is the safest, but doubtful and lowest total gain as again selling or world collapse has to occur at the best time, but usually at the worst There is no reason why a person has to be entirely one or another, but it takes time to learn the skillset for each of these types. I think this is short term and will be an opportunity for the speculators who hit the buy/sell paper trades just right.

 

I don't have a lot of dinero invested in silver but I like to monkey around with it each year. Last year I made $500.00 off it. I have since then reloaded so I guess that makes me a very small time speculator.

 

I stack cash in addition to LongTerm PMs
so if the world goes to a handbasket, I can hand out pennies during a real halloween/zombie apocalypse.

I looked at paper ETFs. have to add Buy/Sell fees and quarterly fees (of the ones I've looked at) to breakeven calculations. with LT hopeful value appreciation, etc etc .. I'd have to have a large holding to make it worthwhile. I didn't want to invest that much on speculation even though you can get out at a click of a button.

 

It seems that both of you feel secure in how you do it, so that is good. I prefer to use the GDX options when I speculate, with a straddle, either predominantly long if I expect more upside than down, or a short straddle if I expect more down. A straddle means you play both directions against a stalled price. If it doesn't move for the length of the option, you lose totally what you speculated. If it moves either way, you break fees or profit. You pick the price where you think , it is going to crash back or that the newbies will buy ( watch the buy now propaganda)and drive it higher But not just yet IMO

 

Pretty big day

 

Yea How come our market did not close around 4 like it used to, Usually my ticker goes to 0. for +- at around 4 pm but today it lost a nickle I think after that?

 

Not sure. Provident Metals ask spot price a few cents lower than kitcos over the weekend. That's the only weird thing I can think of.

 

yea that is my ticker provident

 

It's interesting how most people measure the value of metals in so-called dollars even though in the US the legal definition of a dollar is not what we have as currency. The dollar was most recently defined in gold and silver weight. Then we got certificates, and then those certificates became irredeemable.

Yet people still insist on measuring value with a measuring stick that is based on something that no longer exists.

That this imaginary stick is being used to measure the very thing that is responsible for its inception is quite the irony.

Being a stacker isn't about doom and gloom. It's about trust. I can trust gold and silver not to lie to me. It's really about common sense more than anything. Putting your trust in someone you don't even know to manage your money is insane.

 

I agree, but unfortunately FRNs by law are the only payment acceptable to pay all debts.

 

I thought it was going to be another day of UP, UP and AWAY earlier this morning. On the way to work I heard more news of the Prez's policies.
Then I just saw this ... someone pulled the rug from silver ... should make for an interesting day.


and in case your curious ...
Aluminium is $1,812 a ton, lead at $2,388.50 a ton, tin at $19.870, zinc at $2,851.50 a ton. Nickel at $10,035 a ton, and copper at $5,950 a ton.

 

The dollar firmed up so PMs take a hit.

 

Yeah, the song "Crazy Train" is going off in my head today while I check silver at my desk in my office. It's February so I can make another purchase sometime.

 

Probably waiting for the profit takers to finish their thing might be prudent.

 

Do we know when that typically happens?

 

Your guess is as good as mine.

 

some time between *now* and *then*.

 

Lol, yeah, my crystal ball is lighting up, I'll Private Message you guys when it tells me what's going to happen!