Here's my prediction. Silver will get hammered some more overnight by the commodity traders, but the AUD will correct back over parity as the currency traders wake up to themselves and realise that Australia with resources is like a bank WITH a balance sheet. Then by 10:00am, we will have the perfect buying opportunity for jumping into PMs right before the whole thing spirals out of control. Or .... something else might happen. :lol:
Some of you guys act like you're related to the Hunt's. Low 30's, Mid 30s, so what? You buy 100 ozs at 35, you lose 200 by not waiting till 33...big effin deal. Now if any of you are actually related to the Hunts and are talking about buying 100,000-1,000,000 OZs, then okay I see low thirties over mid, but seriously, it sounds like some people think they're high financiers talking low vs mid 30s
No it doesn't, maybe to homeless people, but not to people buying 100oz in silver so when it hits 50 again they only make 1500 instead if 1700...get real, besides, that's only IF it dips to 33. So by your statement, buying at 35 is very important rather than wait around an it go back to 37. It's a puff game IMO
So how much does one need to be buying to have it count in your opinion? Trades of several hundred ounces take place on this forum regularly. A few dollars cheaper times say 500oz is, well, a fair few dollars to someone of middle class means. :/
Well...Golly Gee, I guess more than 100 oz since that's the FRIGGIN example I gave! Oh and 500 oz at 35 USD per is 17,500, if you or anyone else claims to be middle class and is dropping 17 Gs a pop on Ag then see the above referenced quote...PUFF!
Nobody in the middle class in the US has 17500? Ha. No wonder your property market is so bad - nobody can afford a deposit on anything.
Take your trash talk somewhere else mate. $200 is my rent for the week. If I can still get the same amount of ounces AND pay my rent, then I am pretty sure that's going to be of much more benefit to me. Not everyone is trading in 1000oz's
940palmxt, I understand what you are saying and respect your thoughts on the matter. However for someone like me these sort of drops mean an extra ounce or 2. If I buy 10oz's on that dip I will have saved enough to buy an extra oz that I otherwise would not of had. Every oz counts. There is no difference between someone who can afford to buy 10oz's and someone who can afford 100,000 oz's, it is all relative to their individual financial circumstance. If I lost $10,000 (just throwing out a figure) I would be very upset, there are plenty of others that would not even notice that sort of money, its the cost of a nice pair of shoes or handbag for them. If you don't have to worry about trying to get the best bang for your buck, or as many oz's per dollar as possible I would suggest that you are in a financial position that makes this merely a hobby rather than a way of creating/storing some sort of wealth. I am not wealthy, so that extra oz puts me 1 oz ahead of where I would have otherwise been.
But its a war. You don't just keep blindly sending in your foot soldiers hoping that you can defeat the enemy by a steady stream of fresh recruits alone! It's the thrust and parry of the game . . . beating back the enemy's advances when they come means you keep some powder dry so you can use your big cannon when necessary. I not saying you shouldn't dollar cost average, I'm just saying it makes sense to always keep powder dry to counter unfavourable advances and break the momentum of attacks against your position. That's where this thread started actually, trying to tease out at what point people would step in and put a floor under the price and it sounds like between A$36 and A$32. Now, from an Australian perspective, that position could come quite quickly if there is an appreciation in the AUD to back over parity with the USD or if declines are extended when trading kicks off at 10am,. Or both if the RBA comes in to support the AUD and the stock market for instance. Now that would be the perfect PM buying storm.
I appreciate your civility in the face of an unshared opinion, nice to know everyone's not a...retarded monkey. My point seems to be missed. And without intentionally trying to be an ass, I seem to do well without trying, I point out your scenario only saves you 20 dollars, not enough for an extra oz. But say you bought 20 in order to gain 1 oz. In the grand scheme of things, even if silver goes to 100 in five years, how exactly does your life change for the better? A couple meals out? A rugby game with a friend? But what if, and here's my main point, what if you don't pull the trigger at 35, you wait for a 33 that never comes, then you're out how much if silver hits 100 or 70 or even 50? I merely pointed out there are people here who try and emulate these huge fund managers or a very wealthy investor when they talk about a dollar or two in such a magnificent way. So I would recommend for a budget of 10oz, buy 5 at 35, wait for 33 if you like, if it never happens at least you did something besides debate the value on a message board about the importance of a what amounts to barely a tank of gas. That's it, that's all, doesn't seem so controversial to me, but I'm constantly surprised what brings the rain and what doesn't
I would suggest that a 5.7% loss or gain (2/35) is equally significant for a family of five investing their first $1,000 as it is for the seasoned investor investing his 10th million. As you said further down, the family may miss out on a meal or two extra if things go well, but by the same token, the millionaire may miss out on a car or two. 5.7% is 5.7% irrelevant of the amount invested.
Thanks 940palmxt Mate I understand what you are saying. One would feel pretty foolish missing out at $35 waiting for $33 or a lower figure when a spike in price comes. I myself do not have a crystal ball or an ability to predict price shifts so buy when I can, and in doing so spread the cost of purchases across a wide variety of prices. I certainly don't sit on my money in the hope of a drop that may not come. I was happy buying at $38+ so a chance to buy at 35 is one that I will take. If it drops to 33 and I have some spare $$ I will buy some more. When the price goes back up I will be happy with whatever I bought at the lower prices, and if it stays low long enough I will have more of it.
