Mate i reckon a lot of us are heating humble pie right now... i know i am! The current tank doesn't phase me much - besides the fact that i added more PAMP yesterday and am now kicking myself that i didnt wait til today... ;( But then again i feel better knowing that my average buy-in price was much much lower... i think i'll have to go back and calculate just what my average buy price was per kg - am hoping that might lift my spirits somewhat. but i guess the thing that's on my mind is just how long is this bear run gonna last? Long term i know we'll all be good, but its the medium term i'm worried about. if it last many months then i will lose out when i need to liquidate some tin...
Awww... lol Got a small whip-saw from $35.64, but then busted straight through. Yep, I called this one wrong. My record is tarnished! Let stella have his day of fun, I can take criticism.
Never thought id hear that from you. EAT THAT PIE you pro silver shmuck! I told you last week before the crash it was a bad time to go all in, hope you wont argue with me again mr. Now run along and buy the fn dip
Check the US dollar, Stella's call on that is looking spot on too, at least against the AUD. With Portugal getting bailed out the USD is looking pretty safe right now, strange as that may sound.
I did mate I was convinced of the error of my ways and sold all my shares and property to buy precious metals after people convinced me of the benefits of going all in 100% in the one asset class............
I didn't buy at $30 on the way up so I'm certainly not going to buy at $30 on the way down. My stack is costing $20/oz. If I start buying now I'm increasing my average cost considerably at a time when the market is falling. Makes absolutely no sense to me whatsoever. If, however, I'd bought my silver at $40 then yes I would be buying this correction to lower my average cost as the market drops. A profit is still a profit regardless of what I do with the money. And at the moment I can think of plenty of other things to do with it apart from increasing my risk in silver. C
There are so many people winging about the price of silver dropping. We should have more threads celebrating price drops just as there are threads to celebrate price rises. I'll be off to the bullion dealers on Monday to buy a bit more silver. Renovator whether you are currently in the black or in the red is not that relevant. What matters is what do you think the price of silver will do over the next few years, i.e. where will it go from where it is now. That is what ultimately matters when making a decision to buy, hold or sell silver. What's happened has happened. Its the future return not the past return that counts.
Everyone remember that silver is inherently speculative. It doesn't produce cash flow and a large element of the price is determined by speculative/investment demand. If speculative demand for silver drops then so will the price of silver. I have always firmly stated that buying silver or indeed any commodity (except for maybe gold which is arguably money) is inherently speculative. Warren Buffett made the point that a commodity is something you buy hoping to sell to someone at a higher price in the future. If someone doesn't pay you a higher price for it you can't make a return. It doesn't produce anything (i.e. cash flow, dividends, or interest), it just sits there. I always had this in mind from the start that I am speculating (as distinct from investing) when I buy commodities (including precious metals). Never go all in on a speculation. Therefore never go all in on commodities.
Contrarian. What price do you start buying again. What say it goes to $24. Would you still not buy as it would push your cost average up? Not being a smart arse just like to hear what your'e thinking. Regards Errol43
The funny thing is, some people didnt do their own research or charting but took his word, rawdogs word and all the other silver backers out there (dont wanna say gurus cause some of them arent, tho i think stella was the best (or only guru) out of all the others out there cause he was more subjective). They send emails saying thank you when its going up or send comments under the videos and you can even tell that the sentiment is all happy cause on the videos, its almost blanket "likes". Then stella gives out warning videos (4 in a row i think) and the likes turn to dislikes, The message that he gave was dam freaking clear as day and people stop listening at just the wrong time. Rawdog even went out there and bought put options on his silver cause he was scared and i think he was the biggest bull out there , especially with his video *its different now* where he said this silver rise is different. If your going to tag along from somebodies word and follow them to greener pastures, then if they leave its probably good that you leave too unless you did to research to the contrary and you can challenge their decision, cause otherwise your gonna get caught out. I think stella did a great job with his videos better then many of the others .....
In a word...no. That means that in a rising market you are continually pushing your "sell price" higher. I do the opposite and average out of the market the higher(riskier) it gets. C
Even if you total fiat wealth is down, but you have more ounces than before you will be fine in the years to come. After all most physical buyer aren't interested in the jump in jump out strategy.
At $24 I would be buying some. It wouldn't bother me to increase my cost by a small amount. If silver never drops below $30 then I'll be happy to never buy another ounce of silver. I don't HAVE to invest further into silver. In fact I've already spent most of my silver profits establishing another position elswhere. My stack now is essentially costing me nothing. (I've got my initial capital back). I can't lose. I've watched silver like a hawk up until this point, now I can set and forget and look for other opportunities. C
I guess I'm the among the few that uses that strategy, it helped me get out before the flash crash with a profit.
Thats what i did to, it looked to dam hot at 35 on ward but the sentiment was still very bullish so i was OK, after 41ish even tho the sentiment was still bullish i was getting scared and knew what the real market drivers were so from 41ish i started selling bit by bit. It was dam easy to sell to cause of all the bullish sentiments. By 47ish i had about 1/4 left of what i wanted to sell and released it all there. I did loose out abit cause i sold 6 dollars less but man it felt good to get rid of it when you know something weird is going on ... and i think even the BEST guys cant pick the top. I thinking picking the top is more luck then it is calculated but picking the *round abouts* time is just a matter of reading the info ... See i dont think everyone that didnt sell was neccissarily greedy, i just think many people didnt know that it was going to come to an end temporarily... i just think people thought it was going to go to 100 due purely to fundementals ... for the people that did know however, if they did try to pick the top and got burnt, thats greed ...
