The Men Separated from the Boys

ive picked up 110oz on this dip and closed out a 401K today to throw another 9K at it, i geuss im a man

 

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So it has been noted that the 'silver bugs' have left. Hmmm. I don't believe that is true. Why does it seem that all of these silver threads turn into slams against those one might not agree with? You believe it's going high, and those that disagree slam you for being a fruitcake, a tinfoil hat, or whatever the ingenious terminology, attacking education, experience, (or should I say, lack of same), or, you believe silver is going to tank, it's in a bubble, can't possibly go up that high, it doesn't have the intrinisic value, it's not tied to money, etc.. the lists are endless on both sides. So you are a silver bear, and then, you've got your head in the sand, your education, experience, and whatever else is questioned, including even your age for pete's sake!

Why always such disharmony? It's a website, a forum, strangers with supposedly some of the same interests going on here. Sharing information, sharing OPINIONS, and connecting in some fashion with people in a non-threatening way (gosh, hopefully) about something we seem to all be interested in.

A silver bug, That's me. I own a fair share. It goes up. It goes down. We saw a very very rapid rise. Now we see a very very rapid drop. It was to be expected. Anyone who did not expect the big drop is a dreamer, not a realist.

This rant is mostly to say that I for one see a lot of volatility here on these threads, and it is not as nice as it used to be. Is it necessary to slam so hard in either direction??

And now, someone can slam me.


Lucy

 

Well stated Lucyray.

 

i will be buying more in the future if it keeps dropping. luckily 95% of the silver i have now i got between $12-15. so i am way ahead :thumb: my ATB set i had was up on ebay and ended on sunday early morning so i made some good money on that

 

Unless the dollar and other currencies tank, I think silver goes much lower with a few pauses as shorts cover. I've come to the conclusion it was all speculation and there is no real shortage of the metal.

 

I am still buying silver but I have been concentrating on buying rare '70's silver art bars that are on my silver art bar wish list. To me, this current silver smackdown is just an opportunity for me to buy silver art bars at lower prices at the local dealer if I can find the ones that I want.

 

I was about 50% silver (physical) & 50% gold (98% mutual fund,2% physical) before the end of last week.
If I had sold silver, it would be taxed at 28%. The gold based mutual fund was in my IRA, so no tax consequences on capital gains.

I sold 72% of the mutual fund last Friday when gold peaked. I decided to take profits. At this point, the trade looks good, because the price was a 5 year high in the fund (I started accumulating the position in late 2004). I wish to emphasize that the happy outcome of selling last Friday at a high point is not
due to any particular foresight of my own. I was just taking profits.

My discipline on investments for a long time insofar as taking profits is to look very critically at a position once I have a 50% gain. I let the gold run until I had a 72% gain. At that point, I didn't think I was thinking clearly enough to make a rational decision as to further gains, so I took profits to silence the noise in my mind.

I reinvested the proceeds of the gold fund sale in my largest IRA position, a multi-asset tactical allocation fund. It's less volatile and at this point in my life, I don't need big gains, just steady gains.

Due to tax consequences and personal interest in coins, I expect to hold the silver for many years since it is a melange of bullion and collectibles.

Unless the survivalists prevail, any additions to PM positions will likely be on paper since I believe the global financial system has the wherewithal to survive future setbacks.

 

Definately a MAN! - Good move.

 

I came close to purchasing one ounce of gold today (on credit), and 20 ounces on silver (on credit). But my card had expired. I guess I am a mouse - a plastic one.

 

Not yet! I mean it'll be a buying opportunity soon but not right out the gate. Give it a few days of down, down, down. Once it hits lower than $30 then we can talk about buying some up but that's just me. Anyone else?

 

honestly, I think any price below $50 is a good buy if held for the long term.

 

Im still looking to buy more silver. Im just trying to look more into coins now like ASE, Kooks, pandas, etc. Stuff that I am happy with even though I may loose a couple dollars an ounce. Im just waiting for the premiums to go down. I HATE PREMIUMS!

Premiums are an instant loss. If you buy any silver with a $2 Premium/ozt, that means your in the whole $2/Ozt right off the bat. I know you cant purchase without a premium really, it just seems like the premiums are a bit high right now. Ebay is always showing around $5 premium on silver for some reason.

I am also waiting to see when silver seems to steady its self out and deploy its parachute. Seems like its almost free falling right now.

 

As one of the ones who was advocating selling silver, I'm a buyer below $37, so I'm buying now. I have no motivation to sell, and the correction has flipped the gold-silver trade back to the "silver" side of the scale. I'm now long silver and short gold, once again.

 

premiums shouldn't matter...

if I'm selling a ounce of silver to you for$25 and the price of silver is $20 would you turn that down?
or would you buy said ounce of silver for $35 if the price of silver is $35?

ignore premiums and look for good prices in your investment range...to over think it is just going to screw you up and also try to stick to a plan and keep the emotion out of decision making...

 

Well, I've been in this hobby for more than 40 years, and I'll be the first to admit I have no idea where silver is headed. But I hope it's back up.

 

If you think these discussions are "volatile", you should see some of the other sites I participate in. I've been called both an "Obama lover" and a "mindless Glen Beck follower" and all sorts of other interesting monickers-- LOL. Personally, my interest in precious metals has nothing to do with Obama or Beck or who/whatever and a lot to do with seeing what has happened in the world around me over the past 40+ years.

 

I call this a buying opportunity -big time. I am not saying it is a bottom. That is not something I feel comfortable guessing at. Yet, I do feel that anything under 50.00 an oz. is a buying opportunity.

 

I'm planning to buy a bit tomorrow.

 

I sold a good amount at ~46 and made a nice profit. Now that I have more money than I ever have had before, I plan on buying a good amount of silver. However, I will wait for it to hit 30, buy a bit, and once 30 hits, I expect it to fall further, and will buy more then.

 

Wow, Collector...you'd need some serious bi-polar meds! :goofer: lol