Just wondering if i should buy now or wait till the the prices correct, what is everyone else doing now?
I'm not buying any right now. One of the reasons is I'm waiting for some of new releases and also wait and see kind of an approach. As for what would cause it to drop to the 30's, I'll let other more experience members answer that question. I have a lot to learn still.
I was waiting for the end of QE2 as the prices were predicted to drop further but so far they have gone the other way. Too many factors in play to even try to work it out but if you just buy a set amount each week the highs and lows will average out. I am also waiting for the new releases, if the dragons are available I will get some but if they aren't then I don't really have a plan.
I've been waiting and waiting for a correction. I'm getting an itchy finger, but with Jackson Hole on Friday I'll probably be able to hold back a little longer.
I have never bought Silver bullion in the 40s, feel for those who have to buy dragons shortly. Silver is only just keeping up with gold, and to be fair it's been a pretty poor effort all things considered. If Gold corrects (don't throw stones at me but I'm not willing to rule it out) then Silver will follow, a $100-$200 dip in gold would probably equate to a $5-$8 drop in Silver. Cross your fingers and hope that happens but people did have ample time to buy in the 30s...
I bought quite a lot between 36US and 40US so now just waiting to see what happens with the dragons - I will probably try to buy some no matter what the price but silver seems to be gaining at a steady pace and looks too strong to make a sudden dip. The only thing I can see to make a sudden dip is good financial news from the USA or Europe (unlikely) or someone selling off big (unlikely). I heard Bernanke is to make a speech on Friday so expect some spikes up as we all know what happens every time he opens his mouth! ps. If the gains in silver are gradual there should be no reason for a margin hike and I really think people are more prepared for it this time.
Last time silver went into the 40's, there was like a rush to get into the market before it went past the record of 49.Subsequently the price dropped to the low 30's and now everyone is doubly cautious. This can be a time when we all can get caught out..This time it goes past 49 and continues into the fifties. We didn't buy in the 40's and now it's in the 50's, we will curse ourselves but if it drops into the 30', we will all pat ourselves on the back and say how clever we are. Where is Stellar Concepts. He picked it right last time. I'd be interested to hear his opinion this time around. One of these times, the ones that wait will be caught out big time. What to do? Buy a little each week and cost average. That is the way I'm going. Regards Errol43
Price crashes as Perth Mint shuts down its machines so we can't get any, and shoots back up in time for dragons! Maybe we've been looking at JPMorgan wrongly!
It was only a couple of weeks back that silver was US$38. Decide what the long term outlook is and BTFD.
im goin down this avenue a little each week do me fine i dont wanna be kickin my self for holding out
Another thing will be the resistance at 50US. There will be a lot of caution up to that point but if it goes through the 50 level easily then I think it could take off as people who have been waiting to see will suddenly climb on board once it passes 50. Don't forget that if it wasn't for those margin hikes it probably would have gone through the 50 level easily last time. I think that people will be expecting the margin hike at 50 this time and will be prepared so it is not going to have such a big impact.
I have been buying silver for about 10 months and probably paid too much at times because I got a bit carried away. I went through a tight patch for a couple of months and couldn't buy when the price dropped a bit. At the moment I am not buying because I am waiting for some new releases. When these come out I will probably pay what ever the price is because I must have them. I think I will start buying little bits again regardless of price because after all it is all swings and roundabouts.
when is silver dragon coming? will there be gold dragon also just sold equities, want to add to the stack!!
watch the 200mda, it is ~$35 ATM. IMHO it may touch it on news but it would take a GFC like event to get it below there and even then I could see it heading in the opposite direction instead.
From: http://forums.silverstackers.com/message-151098.html#p151098 I don't think he's too happy at the moment if that's what actually did, I don't watch his youtube videos though so he might've completely switched his positions since posting that.
Dragons out on 1st September. 1oz silver and 1 oz gold coins limited - see Lunar section for details or go into 'search' at top.
Even if the US lets say did recover financially, same with europe, would the long term outlook for silver still be the same, surely the prices have to always rise due to technology and the need for silver in solar, electronics ect.... (long term for me is 1-2years)
He sold 7oz of gold here at $1600 at the start of Agust if I recall correctly, big mistake. He kept telling people to wait for $40 silver before jumping in, you could see the move up well before that price. Great guy but i'd not base my trading on what he predicts.
