The Men Separated from the Boys

The thing I have noticed is that when the profit taking does happen, the floor has come in higher than the previous cycle. It's very much like gasoline prices. They go up and down, but always a bit higher than they were. Just a month ago, we were looking at a climb to 34 for silver. Now that looks more like a bottom. I am not selling. Have purchased only those silver coins I want individually, while I can get them for PM instead of numismatic value. Those that I think will be harder to obtain in the future.

Unless this is more than a hobby, it really doesn't matter too much what the fluctuations do. IMHO

 

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9guns, I think you've set the bar for this thread! If I didn't have 2 coin shows staring me in the face this month I think I'd be hitting this dip a little harder. I'm hoping prices will go down, but not expecting them to. The 'too far, too fast' argument applies more on this particular dip than any other rise or fall I can remember. Then again, who knows how long the Comex margins will be in flux.

 

i accidentally bought another roll of eagles just now on ebay for $40.80 a pop, i think thats it for me on this dip unless it drops sub $30 then i'll have to figure something out.

heres mike maloneys latest vid thats very reassuring

YouTube - SILVER SHAKEOUT - The Big Picture - Don't Panic & Don't Let The Big Boys Scare You

 

I picked $30 as a possible buy point because that's where I made the bulk of my purchases this year and I'm comfortable with that level as a long term investment.

But to really get involved again I'd like to see a little bit of stability. I don't want to buy and see it drop $10/oz in a week's time. I'm not looking to pick a bottom. I'm happy to dollar cost average at the what I feel are fair prices.

I do think it's going much lower from here because I don't believe there is a shortage or any other reason for it to go up a lot other than speculation.

 

9guns is the real deal.
I want to reserve a box in his safe and just send him a pile of money to spend for me.

 

9 Guns is in the "Know Zone" in my opinion. Couldn't agree with him more. Now is the time to buy. Silver may drop a little more, but very little. This dip is just temporary and there is no need to panic. When PM's go up, people panic. When PM's go down, people panic. Wow.

 

I have noticed my local coin dealer for the most part is about the same as apmex for silver eagles he did have a gold plated one i picked up that was a little over 1 dollar over spot

 

Are any others on the forum seeing this? Better deals from your local B&M than you can get on line from the big boys?[/QUOTE]

I have seen this often, at least in the area where I live. Fortunately, I have 3 different coin shops in 3 different citys all within 45 miles from me that I deal with. I have been a customer of theirs for sometime now and always been very happy with all my dealings and their prices. This is so conveinent for me at times. No sending payment, no waiting. I can see, touch and take my purchase home with me right then and there.

 

I gotta ask...is everyone on CT outta their collective, FREAK'N minds? :rollureyes::rolling:

Margins increased five (5) times in a week...that's a game changer. The FED can do that anytime they want...doesn't anybody know this? :goof:

 

Yes, some do, and a few actually understands what it means, and they are probably 90% out of the silver market for the moment.

 

Yakpoo: If you're in a room with 99 people and they are thinking one way and you are the one person that thinks the other way, that means they're out of their collective FREAK'n minds? Seems a little harsh. When the dollar "starts" to "recover" and when fuel and food prices drop 30% or so as silver has and the number of open COMEX gold and silver contracts drop hard, then maybe silvers future is not so bright. Until then, I feel it's a buyers market thinking in the long term. Some of us are buyers, some are not. All depends on what you like and what your tolerance and patience levels are.

 

now I'm not saying yak is right or anyone else either...but one thought that came to mind is be weary of stupid people in large numbers...

yak could be right but he could also be wrong too...

I'm not one to jump off a bridge cause I saw 99 other people do it...

 

i ain't scared

 

When I trade PM, I don't really feel I am conflicting with many CT bullion people as most seem to be physical holders, and I feel the trade is in the PM market instead. 2S2L mentions the long term, which is a reasonable consideration for holding if the various factors he is considering affects silver in the way he is expecting. But consideration for the long term investor is to maximize their gain in positive directions. There is no prize for being first in the market or being the last to leave, each person has to choose their points for best evaluation of gain. Sometimes it takes real courage to pull the trigger on a trade when you think the risk is worth the future reward, and likewise real courage to go against the majority and jump out when others say "stay".

I am not putting words in Yakpoo's mouth, but the way I interpreted it, was that this may be a bad time to add position due to the margin difficulties and the direction of the PM market. Why not wait until silver recovers, margins reduced, or some other positive event before buying. In my mind it is better to miss a couple of dollars in recover, than lose a couple more from a dip. I think it was a statement that there would probably be better time to buy, and I do tend to agree.

Jim

 

Call me ultra conservative but I bought big when spot was $15-$17 and stopped buying at $20 -- and haven't sold anything. The current market is in a natural and cyclic dip. Although I don't expect prices to get below $20 again anytime soon, I'll buy again at $30. If it doesn't make $30, then I'll ride the train back up mountain and think about selling at $50.

 

Do you think? ----I just love the insight of fellow collectors.

 

For what it's worth, I hope to be still buying at $50. Depending on how dreadful the economic environment is, I might take that up to $60. My pockets are not deep, but vI try not to that be the final word.

Sometimes I live thin, but it's worth it - a kind of trade off. I haven't been to a hairdresser in over two years - and absolutely no manicures in over 5 years.

 

Me neither!

 

Though not ASE, Gainville Coins seemed to have a really good offer on the silver Phil Harmonics. I could only look and drool - lacking funds - but dreaming is cheap.