Gret discussion, and lots of valid points have been made. Now, here's a challenge...have a look at your stack, be honest with yourself, and tell us if you are in love with it. You wouldn't be the first. Gold and silver have their way with many a man (and woman). If you are in love...it will be hard to let go at any price.
You are dead. Had you possess silver? Or silver had possess you? Silver had devoured your soul.........my precious
Nothing has changed imo. The debt crisis in Europe is the warm - up match, the USA is the main-event. QE continues. US debt escalating. Austerity measures, will bring more civil unrest which could boil over to religious and cultural hatred. (The hate is brewing in Germany and France) People will have a long hard think before they invest in countries with civil unrest or the potential to have civil unrest. Are people going to keep their money in the bank which provides 0% interest? Even in good old Australia we have falling interest rates. Personally, I wouldn't have money invested in OS stocks but I would have shares in Australian banks that have little exposure to Europe and the USA, but most of all, I reckon it would be wise to have some of your cash in silver and gold. I believe that silver and gold will reach and exceed their highs of 2011 and therfore I'll stack silver because the percentage gain is much better than gold. I see the current price of silver trading at a the lower band of its trading range. Keep stacking on the dips. DYODD
I highly doubt we'll ever see 3 digit Silver, nor would I want it. The world would have to have some pretty big problems to reach that level and I'm hoping the money printing will stop before we have too much of it around. It's still a manageable problem, but if Silver were to ever crack $50 I'd probably start to think about holding long term. The logic behind that is pretty simple, get a new high in PMs, hold it, and it will go a long way to convincing me the big boys are losing it. I'm actually out of the game at the moment as I have had no confidence in silver at all, I have no confidence 2013 will be good for PMs actually. I thought I'd chime in because in my opinion you're making 2 huge mistakes that will only lose you money: 1: waiting on a price that has never come and is nowhere near a price we have ever seen. There is zero logic in that. 2: becoming attached to an investment, that is very dangerous. If anyone I knew shared those views I'd tell them to bail before they got hurt. They are the kind of views shared only by permabulls, and taking out dumb luck, permabulls only lose money. No malice behind my words at all, I just hope you're able to let go when the right time comes and I hope you're getting your info from credible sources.
With all this pessimism , sounds like a great time to buy more. The only reason some think 2013 will be a bad year for silver is because its doing bad right now. If we went up and hit the high $30's at this time, people would be calling for $50+ silver next year.
isn't the idea of investing in silver to be just 10% of your investment wealth? like 10% of the money you have spare? so what is the big loss if silver never goes anywhere? surely the 90% of your other investments would be good enough to cover your silver? you still have the silver in hand so it's not going anywhere. there's the hobby of silver aswell, if your a collector in nature then silver is a very attractive thing to collect, it has all the characteristics of a collectable a collector needs, regardless of the value, owning it is the profit. and just simple stacking, I just stack 'cos I like stacks, I stack bricks too but silver stacks best. there'd be less then a handful of gold stackers that could call their stack a stack, so silver is what is stacked, hence 'silver stackers'. there's countless posts of why people stack, but who really cares why? probably those that need to be convinced, what about just raw stacking silver? if everyone put all their talking about why and the price of silver into just stacking topics, showing your stacks, having fun with your stacks, talking about right now, not about the past or the future all the time, think it would attract a lot more of the younger brigade to get on board. It's this massive untapped market that silver is ignoring, and this forum kinda is too, the younger people looking for something cool to get into, pop culture is a billion dollar biz', if it's something every kid wants then it's usually a global phenomenon, could you imagine what would happen to the price of silver if every kid in the world just had to have the 2013 silver stackers new 10oz ass kicker bar? and yes, it would have to be called the ass kicker or something along those lines. Things just need to tone down here I feel, people can read words a lot deeper then they appear on paper. just feel that the general vibe isn't all that attractive to other forms of stacking other then reading charts and why the hell do I know names like ben bernake, goldman sachs and fiscal cliffs? who gives a toss? I just like silver.
Out of gold too roman? Care to give a forecast/prediction/plan of action? I always take note when I see one of your posts. You are a valuable contributor.
Permabear? nah, it would be pretty pointless spending so much time here if I though PMs were always a poor investment. I never said I'm sitting out until we get over $50, I said getting above that would convince me it's wise to hold onto PMs longer than I tend to do now. Reaching a new high in something is great, with no resistance it's basically no mans land. Wouldn't surprise me at all that if we get over $50 it take a very healthy run up, based on very little but I'll be in just to make sure I don't miss out. Not a profit or loss as I'm not risking anything. I also don't dwell on past decisions, so long as I'm right more than I am wrong then I am content. Thanks mate Without going into details I think 2013 is just going to be neutral. No real gains or loses and for me that isn't good enough, but I wouldn't stop anyone from buying in at these levels to be fair. My rule with Silver is still unchanged. Buy below $30 and sell at $35+, volumes dependent on how volatile silver is at the time. Gold will probably stay between $1600 - $1800, so again, I wouldn't go and stop someone wanting to jump in now provided they understand the decision isn't going to make them real money anytime soon. I'm siding with the banks right now, as dirty as that sounds. Lastly am I out of Gold? While I have no real confidence in it right now i'm always willing to take a punt on it while the banks are, so I still hold it. It takes more for me to bail out of Gold than it does Silver, mainly because it's less volatile and partly because copying the big boys is never a bad choice.
Love? When I looked at my former bank account, I saw dependency and lack of control. When I go take look at the stack, I see independency and control. I won't have a problem selling silver. In the end, all it is, is an inbetween step to what I really wanted. Selling for fiatmoney to buy what I really wanted? No problem. But selling as a return to saving at a bank in fiat? Hell no. I've done with that. They can raise bank saving interest rate to 500%. I'll just spit in their general direction.
I actually don't for PMs, I like holding physical. Reminds me of a time when I was a doomtard, there's a little voice inside of me that says if you can't hold it you don't own it. I like playing premiums too, flipping kooks, lunars and more recently pandas. If Silver goes any lower I might even jump on some of those reminted kooks before they all vanish. Keep in mind I'm posting in the Silver forum here. I'm nowhere near as adventurous with my meager gold holdings and as a result I consider myself a stacker and not a trader.
I tend to even my cost of buying my gold and silver by buying just after payday each month regardless of spot. Sometimes I get lucky with the price and sometimes I don't. However long term it should average out unless I am really unlucky. When there are sudden dips I will buy a little more. When will I sell. Well I don't have a price in mind, but a age. This stack made up of small denominations of gold and silver will be used as a secret source to compliment my pension when I retire at 60. As I need a little extra cash I will sell peices from the stack and hope the price is right. Long term it is not about the profit, but the fact I have control of my wealth rather than fiat sat in a bank. My grandmother saved all her life and paid her way and when she needed a little extre help she could get diddly because she had a little life savings in the bank.
I think it will dip below 30 $ - there are high chances. Look at gold's charts. Silver will respond (being much more volatile) with stronger price reductions.
Funny how your post says exactly what I thought yesterday. I'm in silver since february 2011, and so far I purchased silver everytime my target price arrived, and that always was - as a 'coincidence' notice - when forums topic lists looked like a funeral on the graveyard - all regrets, pessimism and Doom with a capital D. I'm still not buying but the graveyard mood IS present this time. The likely reason is the stopping of the correlation between the Comex total position and the silver price. The price drops but the futures market did NOT dump their long positions yet, despite they already lost half the dollars gained since mid august. I think that ALOT stackers sold and sit ready to buy now. But the expected much lower prices are still not there, because the futures market players held this time (UNLESS they dumped big in recent days, after the COT report release) The question now is who will be the smartest of both. Since may 2011 the Comex side drove the price. Before may 2011 the ETF's drove the price. Recently a remarkable uptick in SLV's stock was shown. 2012/11/09 323,935,348.500 <- year high (or at least since april 2012, didnt monitor it earlier) 2012/11/12 323,306,047.100 2012/11/13 322,483,146.800 2012/11/15 321,031,011.800 2012/11/16 319,578,894.800 2012/11/19 318,126,801.800 2012/11/20 317,642,788.800 2012/11/22 315,658,356.000 2012/11/28 315,174,390.000 2012/11/29 314,448,453.000 2012/11/30 313,722,526.500 2012/12/04 314,756,320.700 2012/12/05 316,014,502.300 2012/12/13 317,369,318.700 2012/12/20 318,143,414.700 2012/12/21 322,981,444.700 <- remarkable single day increase ETF players can be wrong too though. Just look at may 2011. They bought near to 8000 tonnes silver in less than 2 months (the $50 cause). And begin september, at the $30 crossing in the uptrend, they sold off, while they could have waited and do it at $35. If I look at the Comex trend of the last 4 years, I think that the Comex side is the smartest side. It's a pity that the price dropped big just after the COT report activity date. It's a funny coincidence that I noticed too much times. If the price again moves up till the next activity date, we'll never know which side recently sold and bought back in.
No need to look abroad to be concerned. [youtube]http://www.youtube.com/watch?v=VGtjDZg4hvg[/youtube] You going to dump even one ounce when people like this are still running your country?
