In his last video, John made light of the fact that the Ainslie online store has been shut for the last 2 days for 'stocktake'. They were due to re-open at 6am this morning. Still closed EDIT: They're open again as I type this. 1kg PM coins for $1290.
I'll look at buying physical if pamps are sub 1k again, especially if we get near the 750 mark, and under that - in like Flynn John sold his investment position, not his core position That's what I relate to. I did the same, although my investment position was paper. As for trading paper, sure that carries a higher cgt than holding it over a year, but avoiding a bit hit is the most important objective - either to the principal or to profits The point of reentry is just as important - too early and the effect is the same as exiting too late
Rest assured, in that case you'll never buy another ounce of physical silver again in your life! and you can take THAT to the bank ...
+1 on the investment position in paper. ETFs are really safe and some have already sold their physical without a single ETF busting. They also have lower transaction/holding costs and selling is just a matter of a few mouse clicks instead of the hassles of selling physical where you have to advertise your sale and all the packaging and going to the post office nonsense.
Thats a pretty big call, I don't think anyone can say with certainty what silver will do next week, let alone in our life times. If you speak in absolute terms like that you just open yourself to being proven wrong.
Markets are often more influenced by fear and greed than fundamentals - especially in smaller timeframes (which can still span a number of years).
I can see why ETFs are popular and have invested in GOLD in the past, early on. I was thinking more about equities, where there is considerable leverage to spot, up and down. Example CCU heads dropped from 1.1+ down to .84 in the space of around a week (as of now). This is after a 7-8 fold increase from takeoff in August 2010. Now, worst comes to worst, if the pos has another stuka dive, then equities with any volume tend to sell hard, to the point of exhaustion. I suppose this time may be different
Well you ask to be critiqued when you get a following on youtube... i can only say his video about selling silver when it was $25 was one of several times he used charts to time selling and by making it public may have contributed to others selling some of theres just before the parabolic run up as he called it.. . I like John's non-silver posts (dehydrated foods etc) but certianly would NEVER FOLLOW his leads to sell as it's anyones guess and i dont think he is quite the guru some may think. Good luck with his business.. Aussie needs more silver bullion companies.. ABC and Perth mint are not customer focused and overcharge due to a lack of competition.. cant anyone produce business rounds close to spot? Anything above $45 was good but who was to know.. ive kept 99% of my stack and trying to now buy more.. today is looking better than yesterday but should i risk waiting for the 10th expecting another paper reserve requirement. Cheapest place to get 20 x 1oz... ? first majestic is the best i know.. $45 US$ per ounce today... also they ship within 7 days.. more pirate sellers are MONTHS
I always watch John's vids. They offer an expert POV on market trends which for the layperson like myself would be otherwise indecipherable. The way the Silver price is heading he may have the last laugh. The man sold of a portion of his Silver, made a good profit and it looks like he'll buy back in when the market bottoms out around the low thirty mark as he has indicated in a recent post.
Have I? Being concerned about how parabolic it is doesn't mean I am thinking its the top and my technical analysis offers only insight into what the chart is telling me... And my sale at $24 - wow... big deal... 15% at $24. What a monumental stuff up eh? Perhaps I should off myself now... How can I ever live with myself... I sold a few bars at near 100% profit... OUCH... CALL THE PARAMEDICS I NEED A DEFIBRILLATOR!! I did tell others in that vid its just something I wanted to do and was by no means a sell recommendation on Silver. How quickly we pick and choose. Buying large at $11,14,17 and $29... are these all monumental stuff ups as well? Selling 20% higher than the current price - that a momumental stuff up as well? But ultimately... at the end of the day... I sold the bulk of silver at much much higher prices than they are now... I'm kinda patting myself on the back... Infact, in retrospect, I think I am navigating these markets like a PRO I never tell people what to do with their silver... I only tell people what I am doing... the only thing I am recommending is that EVERYONE hold a core position of silver they never sell until its a lifechanging event or they need to. Anyone who wasn't concerned about silver's parabolic rise was being naive... that includes you silversale.... shall I dig up some posts from you at $50 silver? no... I best not. Stooping to lower levels is not my thang.... now... where to invest some crazy silver shorting profits.... (hehe)
Stellaconcepts I think people put to much weight in what you say,ultimately you are one part of a good balance of opinions that people can take or leave.I have found over the years people all to willing to hand their investment decisions to someone else in one form or another.When thing go well the Guru thing happens,when things tank the he's the biggest Ahole thing happens. Your opinions(having just found them) appear totally logical and sound to a lay person such as myself and i take them on board with a small basket of others so i can make informed decisions re my unique personal situation. In short keep up the good work,you certainly put a lot of quality time into your Youtube productions and at the end of the day you do put "Your Money Where Your Mouth Is." REDBACK
The bottom line, John is up X amount and he can buy more silver with capital and profits at 20% discount now as in this minute. While people who are buying, holding and praying just lost 20% of capital. That is what investing is about even if you look at it in terms of fiat or silver ounces. And people who listen to John as the be all and end all of their investing strategy needs deserves whatever they get.
Hi, i absolutley agree. he is the guy i listen to and use as a guide in these turbulant times. No one can call short term with precision but his silver to $40 call was a good call. $39 US$ seems like a good price to buy for mine.. id feel like a rubber desk johnny if i sold at $45 only to see the unwinding of the bullion banks leveraged silver position... Andrew Maguire could be factor "x" ... without the bullion banks and there mythical silver there would be no silver on the market for sale as the physical would be all munched up and in uber safe hands.. while we still have bullion banks YES, the run up was parabolic and the day traders with there funny charts saw the perceived $50 resistance.. $50 in fundamental terms is still under natural equilibrium IMO and i back Peter Schiff when he says he expects the g/s ratio to further close in and both to go UP... once again i trust Peter Schiff in the long term and think he understands macro economics which owns investment advice for the long term... i dont agree with his and ron pauls (austrian school of economics) gold standard as i advocate Bill Stills new monetary system after ruthlessly disecting both systems... but in terms of investment advice he is second to none. If you can sell and back cheaper well done, if you trade paper, why not.. i just cant it (but will try to do some swapping via this board -- how GOOD!) , esp if your paying tax on profits.. is it even worth it to risk default, higher premiums and month waits? Whats changed since 2008.. All the factors making silver the asset class of choice are still there.. The no 1 question is sell silver to buy what?... John seems to be plowing his $$$ into his business according to posters.. this is smart.. converting it to paper money to depreciate and pay capitol gains on in the bank is NOT. 1for1
Why are people getting shitty with him? I can't fathom a reason beyond jealousy. He made a decision. He'd been in since Noah, and he called it. It was going parabolic and that was enough for him. Simple. Why get pissed? I don't understand. Good on you, Steve. Kudos. PS: I reckon you've won a few admirers after that call!
23/3/11 That was one of my favourites (hit $38 in 2 days from memory) - but selling at $23 was quite good too As for my call at $47... saying the market will be heading higher, I still stand by that. Anyone selling their physical near $47... good luck. Trying to get back into physical shortly, after spreads are taken into account, I suspect very little gain if any.... Please do dig up some of my posts... you'll find a good track record