Silver spot experienced a strong short squeeze in the last trading session. How many times have we seen this in the past two years of decline? Don't fall for it, be patient and wait for US$11 Spot. I know many peeps can't control their itchy hands in the past; and deja vu, they will come back saying "we will just buy more if price keeps falling". :lol:
Sometimes taking the stairs is slower than the slide but it is definitely safer if there's a wall at the bottom.
Leon, I am a fan of your prognosticating skills but I have to dissent on the idea of not buying any now and waiting for lower prices. I guess it depends on where you think silver goes to if/when it does turn bullish again. But if we say silver will one day go to $30 again (I think it will go much higher), it will not bother me if I bought silver at $15, $12, or $10. It is often difficult to pinpoint the bottom in any market (that is absolute bottom before reversal), and I believe there is a chance that some day when we do finally bottom in gold and silver, it won't be because of a cycle turn per se but instead could be the result of some surprise world event (financial calamity, war outbreak, etc.) that brings back demand in hard assets quite quickly. So while the person is not buying at $14 and waiting for $12, we could have some overnight world event happen at $13.50 and the price shoots up to $16 or higher very quickly and goes up from there. I am guaranteeing you this Leon, there will be many silver/gold fans who aren't buying now because they think the prices are going lower, that will be buying at $20+ silver because they missed out on that final bottom. When the price gets to $20, they will start to think they missed the boat and realize the price is not going back down, and will jump in and buy. I doubt any here who wind up doing that will admit it, but it will happen. Also for me, my goal is to have a good amount (I won't say actual number) of ounces accumulated before we do take off again because I won't be buying over $20 except an occasional cool collector coin here and there. If I were to wait until some magical ultimate bottom price to buy my stash I wouldn't have enough cash on hand to buy as much as I want (I would wind up spending that cash while waiting for the bottom). But by buying some every week (and buying smart) I hope to have enough to make a difference when the price does go back up. If a person only has a few hundred or even 1000 ounces total that won't be enough to really capture enough of the gains that we are going to one day see. I would agree with you though about not buying now if your intent is to "go all in" as they say. In that case there could be a significant difference between $14 and $10 if we are to go that low and there still be metal available. Just my opinion. Jim
Yes, risky to predict the future from the past. Also, assuming US$11. what would it be in AUD$ ? As well,what would the premium for bars/coins be at that time ? Yes, run away from simple predictions that the future is the same as the past. Happy stacking !
You may not be able to get any silver at $11usd if we get to that.. Even the last week or so with big falls from $22 to $19 there has been very little for sale on the forums and dealers just up their premiums... A little buying here and there doesn't hurt, and adds ounces to the stack.
I would buy it "all in one hit" when silver bottoms IF there will be a sign saying this is the bottom but there won't be.
Very good points by everyone. So don't buy now wait til it goes to 12 then why not wait till it goes to 10 or even 8, Personally i would be buying a little at 14 and a bit more as the price of silver falls, which I believe will happen always better to be a bit early then late.
Christmas time means there will be a few sellers around, over committed, bought too much in Sept/Nov period.. Need the cash now! Regards Errol 43
easiest market to learn is btcmarket. you can get experiance on daily base. i often bought in panick mode and the same on the sell side. i made easy money in this market but also lost it again quickly. if you are long term positioned it is for sure not possible to fish the bottom. to bring it in context with the silver market. follow your mind, dont try to find the bottom to go all in, accumulate in steps an diversyfy in pure silver and a bit semi numis. dont run after a short time trend with pinky color coins and cool packaging gimmicks by the coins from those who own the gold
Looks like lots of people disagreed with me again. Been there, done that :lol: Just because Silver had one day short-squeeze, people start to call bottom; and when Silver was sliding for weeks, people kept buying. Geez, this forum is full of Silver Bulls; and nobody is PANIC Back to the facts, Silver weekly chart absolutely has no sign of bottom; all moving averages are still trending DOWN firmly. I am talking about weekly, neither hourly nor daily. Until silver spot breaks above the downtrend channel, any trend reversal calling is just wishful thinking. And Silver only bounced off the bottom of that channel, it has a very long way from the upper edge. By the time it reaches there, I am afraid Banksters' short position will be massive AGAIN.
Leon, I didn't see many posters disagree with you about lower prices coming. The part I disagree with you on is waiting to buy. I think some PM folks dream of loading up at the magical "bottom" and catching it perfectly like some people dream of retiring to a tropical island when they sell their silver at $1000 per ounce. Both of these ideas are simply "dreams" that will probably not ever happen. PS Didn't you just say you bought around Thanksgiving? Why did you buy and not wait for the bottom like you are telling people to do now? Just my opinion. Jim
Through my COT analysis, I know Thanksgiving would be an interim bottom. I had to buy some Silver coins as Christmas presents, for my relatives and friends. I have been doing that for past two years, they joked that I might be a coin dealer. :lol: Not for stacking purpose, this is too early.
For people who trades paper Silver, such as SLV and AGQ, this is a valuable buy setup; short term only though.
I agree, we've been there & done that (Friday bounce). I think it was to suck in the suckers like Morgan, Turk, et al...'this is the turn, 'we'll never see 13 again.' LMAO. I say we hit 13 or lower after Dec 16th. However, for transparency sake, I am dollar cost averagine, buying pandas and kooks. I agree with the person who said, if silver hits 11 or 10, kooks and pandas will remain at their current prices. just say'n. I'm not much into blobs and rounds and the other junk silver out there. )
I am doing similar buys. I really don't buy just "bullion" anymore unless I can get it very cheap and know I can flip it for a profit (like Engelhard bars, vintage art bars, foreign silver like Libertads, Kooks, foreign proofs, etc). I mostly buy silver items when I know there is built in value such as semi numi stuff that I get cheap from time to time. I had to start buying in such ways a year and a half ago because I had been buying regular bullion and couldn't stand the idea of seeing the value drop, but at the same time I could not control my addiction to buying silver. So I found a nice middle ground. I call that buying smart vs. stacking. However, if someone has no real silver stashed, I don't see how they can lose long term buying even regular bullion here if they can wait a few years to "harvest" the gains. Just my opinion. Jim
We may have just emerged from a bear trap. No one here knows for sure where the price will be two days, two months, or two years from now. If you are waiting for silver to drop to USD $13/oz, you may be holding your breath indefinitely and will possibly have missed a better buying opportunity. If you are waiting to sell your silver when it hits USD $500/oz (or whatever price you permabulls think silver is going to tomorrow), you probably will be holding your breath indefinitely too. I believe silver will be range bound for a while but I am not risking missing buying opportunities hoping that silver drops to $13. At $14/oz and looking at the world around me ....that's good enough reason for me to buy silver at this time. It's not going to da moon tomorrow, but it's also not going to USD $13 either....at least that's what my silver circuit solar panel powered crystal ball tells me! .
Agreed Jim. Another point of clarification, I own regular bullion (I can choose the kind) thru ownx.com and this is my physical trading account. Just being transparent. )
