Go back a year or so and this forum was " smokin' hot" and stackers were going to the moon etc... Are we all now in a state of mild shock trying not to panic as our stack is in many instances worth 20-40% less than cost or are we quietly adding to our stacks to lower the average cost in the hope of a steady rise in spot ? It is so frustrating to see prices today and the temptation is to pile in BUT are we doing this or sitting on our hands ?
A lot members are daily traders. Just for quick bucks. Now most of them are caught with lower prices. If you go long haul it doesnt matter at all. Those that have will eventually laughing. It seem that many are panic and heading for sell off. Wonderful.
I go through stages of "these prices are amazing, I need to buy now" to "I'm kinda scared to buy more and don't know if investing silver was a huge mistake".
Its all manipulation. Only reason Silver is dropping is because the US dollar is rising in comparison to other economies. Only because the YEN is being debased heavily. SILVER IS A LONG TERM GAME. If your in it for the short term, get out now because it's going down to at least $21 before it starts to go up again. Just remember the FED is still printing 85 Billion to keep the stock market going. When they stop and they will. Only the smart ones will make money on wall street. Everyone else will lose there shirts and Silver will sky rocket. Also. 2028 all silver mines will be depleted. Be patient
I've bought some since the drop. What am I suppose to do. Yes, I jumped in last year, with a box of ASE's @ 36.00 when spot was around 33.00. LOL. Bought the dips to get the average down. You know those times when you pat yourself on the back. Thought I did well until, well you know, recently It's dead money as far as investing goes. Might as well throw some more at it. It'll pay off in the long run. I just may not be alive to enjoy the profit. :lol: (joke) I'm young enough to see it go up alot. The way I look at it I can keep it and buy more and enjoy what I'm doing or get pissed, sell it and take a big loss. The latter I'm not going to do. I think you have to like to stack to do it. At least I do. It's become a passion of mine. So much of a passion that I'd have a hard time letting go of some of the pieces I have. I used to try to stick to buying ASE's, something I'm not attached to that I could easily sell, compared to a vintage bar. But that's gone buy the wayside now. I've screwed myself. :lol:
I ordered 5 kilo friday. Since I started buying silver, I always waited for bottoms to be revisited within at most a couple dollars, before buying another chunk, except the last time, where I bought at $29 earlier this year. I assumed that the $3 price drop ahead of the Comex sides dump was due to stackers selling to buy back more lower. But as proved, it weren't stackers because the price dropped to $26 minus that $3, instead of hanging on $26 + $3. So I won't repeat that erroneous assumption. If price drops to $20, then that will be my next purchases max price. This all on condition same general price increasings as now. Buy concentrated at the lowest bottom seen so far. I think that this way the risk of increasing your average is zero. You could lower the average more by keep on waiting for lower prices that eventually occur, but at the risk of the bunch frontrunners rushing back in to inflict you again higher prices. Because that's what a bottom is: the last ones selling, the last ones hesitating to buy, before the club rushes back in. I receive now 5 kilo at 700 euro per kilo instead of the 3,9 kilo at 900 euro per kilo. And my average over 2012 was 800 euro per kilo, so I already averaged down there. Though, I bought by far most at 900 so it's gonna take quite some further lower purchases in order to average down substantially.
I think the Chipmunk got it pretty much right. The buy+sell+buy+sell+buy+sell group got caught with stuff they bought when spot was $30+ and then spot dropped out from under them, so many of them got stuck between a rock and a hard place. They really can't even come back out to play while spot is still on the downward slide. Some of us buy but don't sell, and we stack for the long term. We're gritting our teeth, grimacing while we watch the spot charts, hoping for the best (or at least a little better than the worst) and quietly sticking with dollar cost averaging. Gotta say a couple things about right now, though. My preferred 10oz bar presently costs $85 or $90 less than it cost several months ago and the coins I've bought over the last year presently cost $8.50 less than the average price I paid over the last year. Availability and delays are a PITA and premiums are (still) up, but actual purchase prices are way down. I dislike seeing the value of my stack down, but I can't honestly say I really dislike present purchase prices. The bottom line question is simple -- are you a long-term stacker or a short-termer? If you're a short-termer it's time to sell your stack, take your beating, go get drunk and cry in your beer. If you're a long-termer, you stick with dollar cost averaging and tough it out. It's not nice and it's not pleasant, but it is that simple.
I've been buying and selling these last few years and can show a profit on my transactions. However, my core stack has somewhat decreased in value which I see as the cost of doing business. I am still in front and am busily buying during this dip, not to dollar price average, but to stop myself pissing my spare cash up against the wall on wine, woman and song. That to me is why I stack, the contented feeling knowing that you are one-up against the 99%. That said, I still manage to dollar price average my wine, woman and song!
I seem to remember reading somewhere that gold stacking is not for the impatient or weak of heart. Silver is the same but one can get more burn that with gold when the price moves against you. Long term, I have so little, my Silver & gold can sit and wait for its day in the sun. I'll add to the pile when I can. For the short term, even a fall in the price of silver is protecting me from my own acts of money devaluation called spending. It's better for me to have my stack 30% down than waste all my cash.
Dollar cost averaging with women and drink... Hmmm... I never thought of it that way before, but I guess I've actually been doing that for quite some time now.
Sitting on thumbs and saving up cash. My only remaining planned silver purchase is some 2014 lunar horses. And those along with the gold lunar horses will probably be purchased with trade outs for ASEs & AGEs. Came up with this strategy before gold and silver dropped this year, So, depending upon how low gold goes, I may purchase some more. But I have plenty of silver. If premiums hold up fairly well, I will likely be unloading some 2008 Mice, 2010 Tigers & 2011 Canadian Wolves on ebay. The cash proceeds would likely go towards more gold.
It depend on your position. If you have enough ounces you can afford to wait. Recent purchase have dropped my cost average down. Im not worry. At this rate better wait for $18 .imho 18is very possible. If this not recover soon.
I'm sitting on the sidelines, the charts scare me. I laughed at sub-$20, but now it seems inevitable.
Potato---You're right that this is a scary, bad news time for PM values. Definitely don't go jumping in mindlessly or with both feet first, but... At the same time, this is the best buying op in almost 3 years. At least nibble at it a little bit. Buy a couple bars or a few coins. The real bottom line for long-term stackers is dollar cost averaging and today's prices should definitely be taken advantage of--at least to some small, cautious degree, anyhow. Besides, the vendors will certainly continue with their beloved practice of jacking premiums when spot prices drop, so future/further drops will most likely be substantially lessened by jacked-up premiums. I think the odds of silver spot continuing to drop as dramatically as it already has are pretty slender. Although... time will tell what it may on that one, too.
