For most its a long term investment....so who cares if silver slid down a little bit today. Been seeing a lot of posts on other boards/forums about this and its kind of funny.
Your level of care depends on how much silver you have. You don't care that you could have bought more silver today than you did yesterday? If you're "investing" in silver long term your goal is to have as much of it as possible... Don't forget to factor in opportunity cost too. The difference can be quite significant over time, especially long term.
It's a two edged sword. You would like the price to stay static to allow for accumulation, yet, you want to see the price rise to justify your accumulation.
Both you put it well. I want it to go down a bit here an there so I can buy up more and more but yet I want it to climb over time. Yet I don't get in a fuss about a dip.
What was it? It seems to have been around the AUD22 for a while now, I guess I am desensitised to changes in spot.
I swapped the saved euro to silver when spot price was $19, since the $19>$21 saving euro's again. I'm waiting till they sold again. No current target price, at the moment surely not todays lol. The next sales wave will give a clue which price to target.
With those huge short positions, I would have to think we are going to get a good smackdown very soon. $50-75 for gold--$2-ish for silver
I care a lot!! I'd care if it drops more too. It will demolish my (pitiful)savings account as I'd have to buy more.
I find it interesting that it's doing a similar thing to this time last year before it briefly shot up to $27.33
Let's all remember how it turned out in the end though. Guessing we just saw our spike before the smack
Yeah, like I said brief, ofcourse it was when the pm lunar horses were running. I was still happy with $33each though
The long positions are equally huge. Hard to add dollars to a short position account if there is no long position account to draw them from eh? Hard to buy without a seller eh? Whether or not we will see a lower bottom price ($17 $15 ?) than before will depend on how many will buy back in. As the total position on a net basis shows: alot got out during this last $19>$21.5. Take 2 COT reports: 05/02/2013 51946 $31.76 <- REFERENCE SUPPLY SIDE -51946 (so net short) Producer/Merchant/Processor/User Long 12337 Short 57557 Net: -45220 SwapDealer Long 19435 Short 26161 Net: -6726 DEMAND SIDE +51946 (so net long) ManagedMoney Long 33289 Short 3219 Net: 30070 OtherReportables Long 9160 Short 3369 Net: 5791 SmallTraders Long 27046 Short 10961 Net: 16085 01/07/2014 51955 $21.00 SUPPLY SIDE -51955 (so net short) Producer/Merchant/Processor/User Long 13669 Short 43469 Net: -29800 <- 77.100 Moz LESS silver hedged against a dropping price SwapDealer Long 32818 Short 54973 Net: -22155 <- 77.145 Moz MORE silver hedged against a dropping price. DEMAND SIDE +51955 (so net long) ManagedMoney Long 49245 Short 13043 Net: 36202 <- 30.660 Moz MORE silver hedged against a rising price. OtherReportables Long 11147 Short 7050 Net: 4097 <- 8.470 Moz LESS silver hedged against a rising price. SmallTraders Long 23928 Short 12272 Net: 11656 <- 22.145 Moz LESS silver hedged against a rising price. Total position about exactly the same (51946 versus 51955) so allowing a comparison. Yet the price is $10 lower. That's all people that 'got out' (bought less / sold more) between 1 juli 2014 and 5 february 2013. What is 10 price dollars? A very rough estimate based on multiyear averages is that a price dollar represents about 60 Moz. 10 price dollars thus means 600 Moz less bought / sold more. The situation now is about the same as on 5 february 2013. Another $10 down to come? Or will they, again, buy back in in the $18-19 price region? That's possible, there isn't really much out there that appears 'low'. Stock markets on recordhighs. Even beyond the lead-in of the 2008 crash. Some are smarter than buying high. Than selling low. There were alot teaching sessions in recent years. I think thus that it's likely to see some sideways again, since sideways means less error. The recent uptrend is probably over, and downtrend again busy. We have seen $21.5, not that much different from previous bumps $22. A mere 0.50 difference. But at present time there is a big silver hedge out there. It even got bigger since above figures: 08/07/2014 58018 $21.070 01/07/2014 51955 $21.000 58018 x 5000 per contract = a hedge for 290 Moz. Against price changes (both increasing and decreasing). And guess what: they hedge against us. Since there are little to no indications of big purchases by us (rather the opposite), decreasing appears much more likely. Some say that they keep on stacking, but figures show that on a total net basis, the opposite occurred / is occurring. Back 5 years ago, there was a similar high hedge, that even lasted 2 years. But then, there were big purchases, notably by silver ETF's. But now? ETF's ceased to add since years. The stock just sits there dead, with little change to it. A variation of less than 10%, and even less than 5%. Their gold equivalents sold big time early last year, being some big fund owners selling big time. Is it now the turn of the silver ETFs to do the same? Or will they sell slowly over the next decade(s)?
