Silver plunge!

Btw, where the heck is Cloud?

 

Log in or Sign up to hide this ad.

Not sure what you are saying there. That was one of the most lucid things I have ever heard Tinpot say.....

 

He said it makes sense to want investments to go up. Yea, I will agree with that, but when it comes to PM I am more of a hoarder than investor. I simply LOVE silver, always have. I am like Goldmember but with silver. Current prices just make me nervous buying much more, but if she could come down some more I would just LOVE to buy bags of junk world silver, etc.

I guess I am the odd duck, wishing more to buy PM for my own personal habits. I do hold it for long term, but I am thinking more like willing it to my children than ever selling my "pile".

Edit: Another way to think about it is this:

If you believe silver will be $100 in five years, great, good for you. However, wouldn't you MUCH rather buy all of those ounces today at $25 an ounce rather than buy half as much at $50 an ounce? If you really locked in to silver going parabolic, then you should hope and pray every day the market tanks so you can maximize your ounces for the day it goes parabolic.

Tinpot was speaking more like someone who believe PM is a normal investment, one that gets undervalued or overvalued at times, and something that won't become the world's new currency.

He threw me off with that one.

 

Another way to look at it is that gold failed the long term trendline of 2008-2011 (goes back further if chart showed it).
Then it was rejected at that trendline (~1800, resistance).

We could reasonably expect GLD and SLV to retrace, fill in the gaps and consolidate in the territory it slipped through so quickly in the past few years.

 

Not in 100% agreement but still a well thought out post with valid points. A far cry the usual Ted Butler parroting back type of posts we see from the stacking community. I have also noticed other pockets of sanity and logical thoughtful thinking on the bullion formum recently. So what is going on here? If this continues, we may all have something very useful here where everyone can learn.

Mike

 

You and I are getting old and soft.

 

There is a good article here that suggests members here might want to avoid purchasing during the first four trading hours of a given day.

http://www.zerohedge.com/news/2013-02-19/silvers-four-hour-slamdown-window

 

Thanks. I bought at 10:30 ET today and thought I should have waited a couple of hours. It was a small buy though, since I had bought 15oz this weekend, so it only cost me a couple of dollars by not waiting.

 

I've been wondering myself. He threw out a 'like' last week I think. I was hoping he would chime in on my Fekete Research link in another thread.

 

History tends to repeat. Just hang around until silver gets close to $35 ( if it ever does ) and then they jump back in with the " to the moon" stuff and the funniest one ~ "back up the truck". People tend to buy on the way up and then have to hold it or sellon the way down. I am not referring to inflexion and a few others who I do think would participate, but with enough knowledge to evaluate their risk. I do notice that some previous posters with page long "expertise" have been silent for a few months.

 

Man, how I wish for the halcyon days again when everyone who bought PM was considered an imbecile, it was a "dead asset", and I could wander coin shows at will with dealers begging me to buy their junk crap. I bet you if there had been internet boards back then the PM posters would not even rate having their own section.

For those who really want to profit long term, the best thing you could hope for would be to be considered an idiot again and the PM market become something no one wished to talk about.

I know this is just ramblings of an "old man", but I just wish all of the PM people would leave me alone and buy my contra asset in peace.

I guess what I am saying, there REALLY IS a lot to be said for the German motto of "get rich slow". Greater net worth is accumulated in private, not in fancy gyrating market swings. Big market swings is a heck of a good way to LOSE a fortune, but for most small investors you will get run over by such things.

Accumulate slowly, don't go crazy, and PLEASE do not stop buying when markets cool down. SO SO many people do this, only buy when people are talking about something, when its "hot". The time to buy is when no one wants to talk about it.

 

If I only came around when the price was going up then I'd have to throw the book at myself I'm a fundamental believer in metals and am not concerned with price from a valuation standpoint, rather only for how cheap I can get it. Up or down I buy what I can spare. As long as I don't need to spend the money in the next 5-10 years it goes into metal regardless of the cost. I picked up a couple coins yesterday, and will grab a few more before the week is over. I typically buy harder into a falling knife just because it's too much fun not to.

 

InfleXion, can I ask you a very important question. When did you start stacking silver? The reason I ask is your join date is Jan '11. That is right when the hype was really starting to set in. Did that coincide with your devotion to silver? I am not trying to bust your chops, but for full disclosure, I am trying to make a point.

 

Full disclosure, I re-fied in 2008 and put 50% of it into silver bars and rounds incrementally at $12 and $10. It was mostly dumb luck that the re-fi was finished when the market was tanking. I had been watching the POS since $5/oz but did not have my convictions until I saw stocks shaken to the core. I am not a "to the moon" noob as much as it may seem so, just very bullish.