US $19 silver looks like a strong possibility. I must say, I didn't expect this in the midst of Crimea tensions. I wonder if there is any possibility of even greater falls? How low can it go??!? I have big purchase plans if it drops significantly further.
If it drops below $20 USD, it could break that psychological support level and then really head south from there.
I'd like silver to be around $14 for a few years. I doubt there's anyone with too much silver here, so lets all pray together for $14 silver by end of the week
I'll do the same as I did in recent years: checking when the futures market position trend again reverses. Like it was in the last COT report, it suggests a couple dollars lower than $19. But this will depend on how much money sits ready to buy more silver, and that I don't know yet. But I will know, when I see the futures position dropping quicker with the price (more positions per price dollar). After a few repeats of what appears as bottom from that perspective, I'll order again some lunar horse kilocoins. Or other silver, depending on the premiums of the dealers. My previous purchase had the same spot price as the one before it, yet the price was lower, because the dealer dropped his premium.
Me too, my average is $30 so I can use some years $14 to average down. See, I chosed to continue saving in silver, and a lower price is better than a higher one, lotsa coins more, and I already took advantage of it, my average is now abit under $30. But I doubt that $14 will be given soon / end of the week, usually the strategy of the money for nothing clubbers is to try to make people 'waste' their money at still higher prices, so they sell some, but not all, so that people are more willing to continue buying higher, and after a while, when they notice that the sales drop, indicating most already shot their ammo, they sell the rest, and drive the price further down, giving them less competition the next time they're looking to buy back in. Rinse and repeat! See, if they allow others to buy 'inbetween' their sales, they can sell more silver at the higher price. If they would dump it all in one go, the price would drop more, and their last sales would be at a lower price.
I don't forget that a mere 10 years ago, the silver price was $5, and has been that the 18 years before. The average price in 2008, 5 years ago, was $15. The bottom was $9. It's not -that- crazy. The amount stockpiled silver greatly increased during that decade, and especially since 2008. The bigger a stockpile is, the longer the sales of it will suppress price risings, even if other prices do rise. That's what stockpiling is, in the end, the only difference for the price is time. If stockpiling drives up price $X, then that $X will be undone when it's sold again. Unless people start to throw their silver in the ocean and for the pigs, but thats not likely. One thing I'm sure of: if stackers take more care when buying and selling, the money will stay in the silver market, and the price will hold better. Because the money for nothing club just visits to get our money, then leaves for another thing. They don't buy more silver with the proceeds, they buy something else. The money is 'gone'.
