I really hope something stops silver soon. this is getting ridiculous. Parabolic moves are never good. Slow and steady. Let us get used to $40 silver before taking out $45 let alone $50. The market is getting hot. I don't even have immediate plans to buy more, its just not natural for even a strong bull market to be this violent without some decent pullbacks. Ill get all excited when it hits $50 and be like yay i have made $XXX. Then it will drop back to 35 or something stupid and it will be all owh, damn, slam my finger in a drawer type of thing. Not that ill sell in either case but it gets hopes up then washes them away. If it does drop to $35 or so I will be buying more, hard for me to buy 'at the top' and need to buy on the dips. Only thing is any purchase now blows my DCR out.
Yeah hope it pulls back or stays around this level but it seems unlikely... 1oz perth mint rounds on ebay are going for $15 over spot price with ease -___-
hi euphoria, agreed. i don't think anyone wants to see it hit 50 then drop to 35. could be worth lightening the load slightly at 50 since it hit it so fast, and reload those funds on a pullback. but i dunno, getting physical is only going to get harder and harder. maybe selling some paper silver at 50 is the answer??
Yes Euphoria. It is far easier when the price of silver was in the $20 to $35 range. During this time frame the POS would go up $1 in a week, next week it may drop 60 cents and then the following week it would surge 90cents. It seemed to take a while to get to $25, then 30 and then 35. Some weeks it would remain steady and it would give the buyers a chance to buy silver that in some instances was below spot. In the last 2 weeks it has gone from $35 to 39 in a week and this week it looks like being $42 to $43. I too am waiting for big profit takers to move in, sell a lot and down goes the price. So far this hasn't happened but I feel less inclined to buy at the moment. Some of the new arrivals to stacking silver, I feel are starting to feel that they are going to miss the boat and are starting to buy at any price. However we can do little about it. It's heads up you win tails up you loose. We're all on the roller coaster together. Regards Errol43
I have been saying the same thing to people lately. I would have been thrilled for silver to get to $40 by May, endure the summer doldrums and then make a run to $50 by the end of the year. If silver runs to $50 quickly, I will have to make some serious decisions for myself and the investment accounts I manage. Do I sell all or part of their CEF & SIVR shares or hold? The pm miners will be an even harder decision as they would likely not have appreciated to match the increase in silver price, yet they would also likely decline if silver hits an intermediate term top. For my physical pms, the decision is easy. Even if I suspect an intermediate term top in silver, I will hold all physical pms. If silver breaks $50 USD, that is a game changer just like when gold broke $1000 USD. Btw, selling of CEF & SIVR is not a simple will silver go up or down decision. Even the SIVR, SLW and the silver miners that I bought last fall have more than doubled in price. So, the ETFs & miners would have to decline by more than the capital gains taxes. There are worse problems to have, but I was happy with a 20%/year gain in silver prices.
Thats the question i'm asking myself.... Buy more now - and then have less money to stock up if the price drops.. Or wait and then the price will just keep going up!
1oz coins costing $50!!! I'm loving it and hating it. I hated paying $40 an ounce for my last 25oz purchase. Now I'd happily pay $40. Seriously ?????
Just normal market action, showing the signs of local overheating ( deservedly so - i mean - havent we all been buying last 2 months !! ) It is natural to reach the the HUNT spot price of around $48.50 - than a PULLBACK to maybe $38 within 2-3 weeks ( FINAL OR LAST TO FINAL BEAR TRAP - to shake the unbelievers off ) than into unchartered territory, but that territory will be above $48.50 USD ! So by start of June or in June that action may appear. but lets see
My strategy of work more = buy more silver isn't effective under these sharp rises. By the time the next payment comes in the POS may be $50 @_@
It might drop one more time but i don't think this bull is gonna stop kickin anytime soon... just watch the news on youtube and you will see why. Im honestly struggling to buy enough, i dont have the money but i know every cent i put in will pay back big time in the end!
I had previously thought I was done buying silver until September. Then I saw the 2011 Somalia silver elephants at APMEX. I bought 100+ and when they came in I almost started drooling. They are simply stunning coins. I gave those who enquired a week or two to order some and then my friend and I bought the last 1000 coins. I had to sell some stock to buy them, but they are worth it. In September I will probably swap out some ASE to buy the lunar dragons and pay the premium difference. So my increase in silver ounces will liikely be limited to purchasing some of the 3rd Canadian Wildlife coins that are due in September. Of course, I have said similar things in the past and have consistently scrounged around to find more money to buy more silver and gold. Apparently silver is similar to chocolate, very satisfying and very addictive.
Matrix, those numbers that keep floating around the internet are not accurate at all. 17 years ago they stated that we had 17 years of silver left. Now, they state we have 17 years of silver left. The silver miners I own like AG, FVI.TO & SLW (via its financing deals) are greatly expanding silver production over the next few years. However, the increased industrial useage and investment demand will probably exceed the increased mine production. So, while I don't believe we are anywhere near done mining silver, I still expect prices to rise.
I have no faith the the supposed 10 year underground supply claims. It just sounds like price pumping dogma. the higher the price gets the more motivated the mining industry will be to explore for it the more they will find. Sure there isn't an infinate supply but lets not get to excited about it just yet.
Hi all, Dutch newbie here. I was a bystander of phsysical silver until recently. Tried beating silver by trading derivatives, and lost most I put in. Now I got back in 8 weeks ago while at the exact same time buying my first little stack. I've more than quadrupled my money since, and my silver I bought when it was $33.33. My funds are so limited, I cannot be bothered to buy silver for it. But such a predictable and steady uptrend is a blessing for leverage trading. Leverage pays off so well when it runs for some time unbothered, it's just crazy. I still want to build a good silver stack, but see only one legal way to obtain cash for it - leveraging the silver market in the only simple way I understand. Right not I have all in silver longs, leverage 4.3-4.4 or so. Scary, but it pays off right now. After market close in Europe, till close in US, my paper silver gained half a kilo worth. And 8 weeks ago, I only had a bit over 2kgs worth (in the trading account) to begin with... The moment will hopefully come that I take my gains, and bring them to the silver dealer to exchange them at $60 or so, but get several kgs to take home, and still have paper silver to nurture like a chicken farmer does with an egg. A controllable, good and firm dip will be greatly appreciated to buy at, but when you're playing with some papersilver succesfully, paying $60 is not so bad, as long as you believe in $400 (plus inflation correction) in 10 years from now like I do. Funny, the Dutch verb for "to cash in" is still "verzilveren" - to turn into silver. It seems to have more meaning than it ever had. Stack on, J
I no VERY LITTLE but i plan to keep my silver for 5 to 10 years so I am not going to get my head in a spin with everything that is going on and just keep buying I am just still trying to find these Adean Cats.
I'm not sure about any pull backs, I have a feeling that silver is going to pull the same thing rhodium did [youtube]http://www.youtube.com/watch?v=SiMHTK15Pik[/youtube]
