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Why are you buying silver for 5 bucks over spot?
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<p>[QUOTE="bditto39, post: 4410792, member: 107194"]I agree with you fully on the lack of motivation to buy for those of us who bought lower or at least observed it at lower prices. SLV's price will definitely be driven up with the demand for physical silver over time as it did a decade ago, so I think you are very wise to take a position on SLV...heck, I have already traded several profitable call spreads on SLV in the past two months. Absolutely buy some SLV, but be careful that it may not just pop at the start of a bear market and may not even keep this level. </p><p><br /></p><p>I think my point was that physical silver never crashed...what crashed was the paper silver from traders needing liquidity as the market tumbled. While paper wenr down, physical just moved up with demand a few dollars from it's previous highs when spot hit $18 and $19. <b>Don't lose hope though! </b>As others have showed, there are still opportunities to get silver at decent prices! You can't trade physical silver quite like a stock because of those nasty premiums, so it's more of a asset that I buy in a certain range based on the charts. I know it's not $12 or $15, but $19 is actually still in my buy range, so there are some opportunities out there, especially in junk silver. Not a great entry compared to $15, but it will be relatively good if silver does make 100 or 200% gains out of this recession.[/QUOTE]</p><p><br /></p>
[QUOTE="bditto39, post: 4410792, member: 107194"]I agree with you fully on the lack of motivation to buy for those of us who bought lower or at least observed it at lower prices. SLV's price will definitely be driven up with the demand for physical silver over time as it did a decade ago, so I think you are very wise to take a position on SLV...heck, I have already traded several profitable call spreads on SLV in the past two months. Absolutely buy some SLV, but be careful that it may not just pop at the start of a bear market and may not even keep this level. I think my point was that physical silver never crashed...what crashed was the paper silver from traders needing liquidity as the market tumbled. While paper wenr down, physical just moved up with demand a few dollars from it's previous highs when spot hit $18 and $19. [B]Don't lose hope though! [/B]As others have showed, there are still opportunities to get silver at decent prices! You can't trade physical silver quite like a stock because of those nasty premiums, so it's more of a asset that I buy in a certain range based on the charts. I know it's not $12 or $15, but $19 is actually still in my buy range, so there are some opportunities out there, especially in junk silver. Not a great entry compared to $15, but it will be relatively good if silver does make 100 or 200% gains out of this recession.[/QUOTE]
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