"Don't buy silver at the moment" - Schiff, Maloney, Morgan, Keiser etc

"Keiser invented "Virtual Specialist Technology", a software system used by the Hollywood Stock Exchange." Wikipedia - Max Keiser has history prior to the invention of Bitcoin in digital currency technology.
This would help explain his early adoption and enthusiasm. Max Keiser still pushes PMs. That has not changed. He is surely invested in both PMs and crypto-currencies. I think many precious metal enthusiasts
only want to hear commentators push PMs. Some people have wider market interests.
I know there is a silver 'Max Keiser' coin but I'm not aware of Keiser being a sales person for silver or gold at a particular retailer.

If silver was $320 per/oz right now (with same USD purchasing power, no financial collapse), all of these commentators would be regarded as heroes to a degree, and would still be saying "buy". When in a weeks time, the price could be $150 due to a bubble scenario.
Bascially, everyone is waiting for a massive banking/dollar/financial collapsesooner or later..

 

Just to be fair to David Morgan.

http://www.kitco.com/reports/KitcoNews20110426DeC_david_morgan.html

 

Thanks I missed that!. So David Morgan made his move at the top and announced it.

"That doesn't mean that silver longer-term won't go higher, he said, but the way the market was acting was a sign to him to lighten up on his position."

and

Morgan is a veteran of the silver market and is accustomed to the extreme volatility that comes with the territory.
"This market is not for everyone. Unfortunately I've seen a bunch of Johnny-come-latelys who haven't studied it.
Silver is one of the most emotionally driven markets out there," he said.

http://www.kitco.com/reports/KitcoNews20110426DeC_david_morgan.html

Credit goes out to David Morgan.

 

Jim Rogers was pretty good, "i'm not a buyer at these levels", "if it goes lower I will buy, if it drops more, I will buy more" etc.

 

Rogers is one of the extremely few that I value their opinion. Kyle Bass is also on that very short list. Both of them made their money through investing, not through pimping pm services, books, etc.

 

Bass is top of my list too. He is the shiz.

 

OK... so you have to be a loner and back your own judgement...Fair enough..

So what happens if it ever happens again that silver starts to push its all time high of $50oz...

Will you get swept up in the fever and hold . Greed can effect all our judgements at times. OR WILL YOU SELL on the way up and take your profit in fiat $..

What will you do if the GSR GOES TO below 40 to 1, will you swap for gold?

These are the hard decisions to make a call on...

I have made a few bad calls myself, thought and talked about the situation but failed to act.

Overall, I think that anyone who stacks silver is a winner only some are bigger winners than others.

Regards Errol 43

 

Stackers have no hope of timing the market. By the time you get to storage, pull out the sellable bits, get down to the PM shop and exchange for fiat the price could have leapt or fallen. It's been said a thousand times here. 'Exit Strategy'.

 

Storage is 5 minutes away for me. Meanwhile if your are going to sell, you sell a portion at the price you want on the way up. I think if GSR drops below 40 and both are rising, I would swap some for gold before a smackdown.

 

When John Christian (stellaconcepts) sold his investment portion, he may have done it through his own PM trading site (www.spotmex.com) he ran at the time. When the market is running hot, there are tons of buyers.
Sell the metal one day at a good price, and ship it the next. You could even have photos of say "the "investment" or speculative portion of your stack" ready to hit trading websites, without going to your security facility.

"This market is not for everyone. Unfortunately I've seen a bunch of Johnny-come-latelys who haven't studied it. Silver is one of the most emotionally driven markets out there," - David Morgan - just after the 2011 buying mania and "blow off".

Bullion Barron has an article pointing out that Mike "Mish" Shedlock also made a timely move from silver to gold at the 2011 silver peak. Some people know how to time the market. Credit goes to "Mish".

http://www.bullionbaron.com/2011/05/silver-buy-dip-or-start-of-larger.html

Bullion Barron viewed that silver was most likely going to $50 (and naturally beyond no doubt), thus an ETF purchase when silver dipped to around $40. A bullish view. I would have been hoping for more highs at the time too. It turns out, the first "blow off" was enough to end the manic buying towards another new high silver in 2011.

 

What ever happened to John, is he on a silver "holiday" overseas currently, or done with this part of the market?

He is/ was one of the wiser voices in the crowd- was a watcher of his channel since the early days. So sad that he has gone AWOL.

 

John was good years ago. After his trip to Turkey, something changed and he became much more commercial. John's record in later years was not very good and his last attempt at redemption blew up in his face.

http://forums.silverstackers.com/topic-36988-stellaconcepts-50000-trading-challenge.html

 

Which way did silver go when at least one of these guys was calling $100 / oz?

 

Hmmm.

Thanks dccpa. He was one that called the plunge from $49 to the low 20s... I first bought in at $17, then on the way up, but slowed in the uppers 30s to 40s, some in part to his point of view encouraging people to see the correction........ I will give him credit for that even if in recent time he may not be 100% anymore..

 

John sold a lot near the highs and sold a lot at $25 on the way up.

The best of the tops calls was Ben Davies who called for a $10-15 drop in silver prices in just a few days. Since that call, Davies has been very wrong. Most people recognized the silver top at the time, but a lot of us underestimated the depth and length of the correction.

 

The thing about maloney I don't follow is he says he's going to tell ppl when it's time to get out -when his proprietary indicators tell him so - eg down gold ratio < 1 etc.

However if he does this he's effectively blowing up his own business. I struggle to believe he'd actually do that.

 

I buy because I stack. I really don't care which way the market goes. I'm in for the long haul.

 

There are plenty of threads on why people stack. Here is a few..
http://forums.silverstackers.com/topic-45492-why-we-stack.html
http://forums.silverstackers.com/topic-36014-why-do-you-stack.html
http://forums.silverstackers.com/topic-32665-the-reason-i-stack.html
http://forums.silverstackers.com/topic-14573-why-do-you-stack.html
http://forums.silverstackers.com/topic-6219-why-do-you-stack.html

 

Evey one has there own view . As much as I like having silver , would I feel comfortable to stress myself with only investing in silver . No To me silver is a PM account purchased with money you might of spent on insignificant items .
You buy , thats all,
$39 per oz I bought , $19 per oz. YES . In the long run it averages out .

 

There's no doubt that the institutions with large capital announce a 'sell' recommendation sending the spot price down and buy on the way down and sell on the way up.

Moreover they have the obscene amounts of capital necessary to slam the market with large short selling, resulting in breaking down the technical trend at critical points. This allows them to set up artificial price lows in the market where they cover their short and switch to long positions.

This market manipulation is likely done with the blessing of the US Fed to increase confidence in the US dollar, while they print 85 billion new bills a month.

Agreed, Kyle Bass is absolutely brilliant and a voice of reason. If anyone is interested you can load up on youtube one of his latest talks to listen to. It's comforting to know there's the likes of Kyle Bass who can makes sense of the insanity.

Correct me if I'm wrong, but haven't we just entered an unprecedented era of human history where global central bank policy appears to have abandoned all traditional economic theory? It's not a bailout of some large bank or GM... it's the ultimate bailout of the entire world economy.