What do you think will happen to Silver in the next few years??

Today silver has found a resistance level at basically $34. It has been bouncing between 33.75 and 34.00 for much of the morning. This may be a "psychological level barrier", but a good break through the $34 level before close will be significant to me and I will hold or increase my PM. If it is still in the "bounce", I will reduce slightly. If below 33.50, I will reduce 25%. IMO. not advice, just info.

Jim

 

Log in or Sign up to hide this ad.

Stayed in the range at 33.84 or so, I decreased my silver PM by 10%.

Jim

 

You are very disciplined.

 

Since the level was high near the top at the end of the session, it was just taking a little off the table. I suspect it will hit 34 after hours ( 33.94 now), and then we will see if it holds for the US market. Losing money instills discipline. Many now playing in the silver market have not really seen a down market. I hope they have an exit plan and stick with it.

Jim

 

If hinderances obstruct thy way,
Thy magnanimity display,
And let thy strength be seen;
But Oh! if fortune fill thy sail
With more than a propitious gale,
Take half thy canvas in.

- Horace, "The Golden Mean"

...sound familiar?

 

Huh?

 

Up to date version. " Bears make money, Bulls make money, Pigs get slaughtered!"

Thanks for the classical version, I didn't know it.

Jim

 

+1 ...thank Cloudsweeper. It's from his book.

 

Yes, it is right out of the book.

 

Check out this article on the 2008 collapse and supposed on-going financial warfare (or terrorism, your choice)

Not political!
http://www.washingtontimes.com/news...rorism-suspected-in-08-economic-crash/?page=1

 

still going up!

 

I told you I would buy it...now I gotta read it! I have a very short attention span and these types of books lose me pretty quickly...but I'll give it my best effort. ld-guy-smile:

 

I had to sell a tiny bit more. As it keeps going up, I would like to use the money to buy some things to complete my sets while they haven't ridden the numismatic wave.

But I think it will settle later in the year or early in 2012 ? seems like everything that goes up, must come down at some point.

 

It isn't like the other books. It's an easy read and pretty interesting. There are many unique investment perspectives that other authors never touch. Most of it is directed toward investing in the 1970s, but current conditions have a lot in common with the early 70s. Happy reading! Let me know what you think about it.

 

Sounds Ok, taking profits is fine. Since I expect a sawtooth upward, there will be opportunities to re-enter, Maybe at a higher entry and exit point, but still a chance if you have funds available then.

​

 

Don't bulls get slaughtered, too? Very few of them end up like Ferdinand.

 

...not if they know when to turn tail and run! (like I did last Friday)

A very wise person once told me, "Sometimes it's better to make 3% than lose 20%".

 

The other side of the coin is that if you lock in the 3%, you'll never make 20%. If it was easy, everyone would be rich.

 

Just picked up 60 more ounces of silver rounds and 1 oz. bars yesterday. Dealer friend of mine said he is completely sold out of 90% and is having trouble finding any. Said lots of customers are bringing in gold and are wanting to trade for silver. On the other hand, 1 customer brought in a complete set of PCGS graded MS63 Peace Dollars and wanted to trade for gold. I love silver and gold, but wow, I just don't think I could part with a complete set like that. That would be hard for me.

 

...but, as your book suggests, if the preponderance of influences suggest the "odds" more favor a move in one direction than another, it may be wise to favor that direction.

I believe that the current unrest in oil producing countries coupled with the annual summer gas reformulation will push fuel prices higher than we've yet seen them. I think we begun a downtrend in stock prices that will last through the Fall.

I may be wrong...but that's what I believe.