I am pretty much "all in" on silver so I have been selling a bit since we broke over $20. I bought much during the past year and a half at prices below where we are now. I decided to dump some stuff I am not crazy about and cash out a bit. There were a few people at the coin store and one guy was buying a bunch saying he never bought silver before. He looked at me selling and said "why are you selling, this stuff is going to $100"?. I wanted to ask why he wasn't so excited about silver at $14 but decided not to. I realize we could go "to the moon" soon but we could also stay here or drop? I still have way too much of my in investment $ tied up in silver but it did feel good to sell some and not lose money for a change. Jim
Nothing wrong with a bit of profit taking. It feels good. If silver ever does go to $100 then you've still probably got enough of a stack to make current sales seem insignificant. And if silver dips for a period then you also feel good for catching a high.
There's never any harm in taking a profit on some of your shitty stuff. However, the wise thing to do is replace ounce for ounce with something in your chosen model. Perhaps minimise your dollar exposure but increase your silver holdings.
Looks like a ton are cashing in on their position just look at the Trading Forum, So the short answer is yes and its noticable. REDBACK
See you at the stacker lifetime meet in heaven SammySilver will be working the door so that those of us attending from hell can slip in.
I think the price will fall soon, went up too quick, it turned a lot of buyers into sellers, so prices should ease a bit or at least consolidate
slim picking s at the bargain bin at the moment as there are plenty of people primed with the finger on the trigger, silver to $100 well I would not be holding my breath on that, if Ag was going to go ballistic it would have done so back in 2011-12. Is the metal undervalued, there is as many for as there is against and the people that manipulate sure as bikkies aint gonna tell, you will note large sales before a spike in key Bullion Houses eg Perth a few weeks before as the have's buy up big before the have not's get a sniff of what's coming. I am still buying as 26$aud seems to be the new bottom for now and realistically is still cheap and the Aud has been trading slightly up. Jeez what happened to Rhodium, don't think its gonna be coming back anytime soon, Palladium and Platinum used to be the lower and top of the gold price bracket, so is Gold being manipulated and will it drop its guts and come back down to earth, the Asian demand on the yellow seems insatiable, but the rest of the have nots now place gold as a surety against the stocks and has become common place knowledge where people 20 years ago did not look sideways at the yellow and headed for bits of paper instead. The market has changed, government and the world in general, we are dealing with a fickle beast now. And so the battle continues, WW3, anything is likely, can and will happen. I am stocking metals not just AG and AU, Gun Metal with bits of Walnut attached, Brass with Lead bits on the end, just to be sure I am covering and diversifying my stack to the extent necessary.
I just missed the latest bull run in silver, as I pulled out my unallocated from Bullion Capital who were looking shaky and meant to take it somewhere else but didn't get around to it, days later it shot up Still made a profit though. Not selling any other metal, but I did take the profits on a large part of my SMSF portfolio early this week after a big bull run, and of course they are all still going up
In the current market that is swinging back and forth dollars in a day, I'd be waiting for at least a sharp dollar drop before buying, and a sharp dollar again before selling any. It's almost regular as clockwork at the moment. I can see silver dropping back a few bucks short term, I think that's more likely than not.
I've been stacking since silver was around $10 and I'm still buying when I can. Got core holdings, but do sell some when I think it's peaked. I'm accumulating at these levels to replace what I sold as I think it's going much much higher in the long term, but think there could be a minor correction down to the $18 level before it goes higher, so I'm only looking to buy bargains around spot at this stage. If it goes higher without retracing any further, well then at least I got some at a good price. If not, then I'll be buying more on the way down to get even better prices. Basically it's all about dollar cost averaging
I'm still buying now too coz I think spot will keep going up. Ordered some more 10oz RCM bars from GS yesterday. I'm convinced Sammysilvers $28 prediction soon will fulfill itself.
The single thing that craps me off is in reference to a conversation that I had with a large and well known Bullion supplier here in Perth just a few minutes ago, in discussing their buy price. This place has it actually written on their web page that if you have a particular brand or type of carded bullion in this case AU, they may offer more than the advertised rate for the particular weight in question and the product they are basing their buy price on. So I have bought a particular high premium brand of carded minted bar from this outlet, when queried on their buy price for that product, I was told verbatim "we will not be paying more for that product, the price will be as advertised for generic bars as advertised" WTF, I used to have some respect for this branch, needless to say now I could not give two squirts of cocky poo about buying from them if they will not pay for the premium product as they sold it to you. So the deal is they will make more money when they flip it and stick a high premium back on it at sale. I made the mistake of buying higher premium product from this office, why bother and get bent over the counter by some female sales rep with a large silicon strap on appendage, well i like to be kissed before I get F****d. I will stick to my international buyer and seller, whom guarantees 99.5% of purchase price of that product on the day. Bitch for the day over with, Thankyou stackers for providing me with the orifice of outlet.
I just noticed tonight on Apmex they are selling secondary market generic for .39 over melt you have to buy min 20 oz with 100 oz max limit. I don't buy online but I mention because I have noticed over the years when Apmex and other such places have really cheap deals it can often mean a drop is coming. Perhaps mere correlation or maybe they see something coming? We'll have to watch and see. http://www.apmex.com/product/102555...ket-lot-of-20?_campaign=07142016product102555 Just my opinion. Jim
