PMs been going sideways for a while now, strong direction may not come for hours, though I'm still betting down. Might be waiting for Fed Governor's speeches, I think tomorrow
Fine, the jury is still out... we'll talk later. I probably shouldn't have said "strong" rally ... of course you are right that hasn't eventuated yet. But a cursory glance at the index chart does give us a clear signal, I'm sure you'd admit. Or would you really bet on a breakdown from this point?
Do tell! Hope it is good? You don't mean they're secretly short silver or on JPM's payroll or something do you?!
Trichter I defer to Louise Yamada and other technical specialists on the USD. I would have to listen to her latest interview again, but I don't think she expects the USD to go over 80. As we learned in 2008-2009, anything is possible, but it is hard to be optimistic about a currency whose government is determined to debase it.
Actually, I sorta have in their best and worst moments. And out of all the people that I've dealt with, Aussies are top of my list. I think I've even mentioned this before here at the forums. Great people with great hearts, very passionate, and most importantly, they are the best when it comes to being hospitable and when you need them during an emergency. Also very fun to be with during a get together. But my issue with Stella is not him as a person, but with how he comes across on YouTube. Also just in case people are thinking that my issue with him is when he switched his stance on silver vs paper, not at all. It's what I stated in my earlier post. I think John is a cool peep with a great heart that knows how to have a bit of fun.
No meltdown, just a market correction/manipulation. Everyone likes the silver when it goes up quickly... but just remember it can go down even faster. If you are a stacker then you take advantage of the price drops to get even more. If you panic and sell on a down turn like this then you are NOT a stacker. Stacking is NOT get rich fast... but a hedge on the worthless fiat. Any "paper" be it stocks, ETF's, dollars, and etc can drop to NO value, but silver has intrinsic value, and heavily used in industry. SILVER will always value. I try to buy 10 to 20 ounces every week when silver is on the rise. I stacked every week this year up to $42. ounce. That's my market top for 2011. Anything above the 42, turns me off... because I know it will go down again and again. I don't expect to EVER see $20 silver again, if you are waiting for it to drop to the $20's to buy, you will never catch it. I love it when it drops, I 10x my buying. Over the last 4 days I stacked 300 ounces. The problem is sometimes with drops in double digits sellers/dealers will "clam up" and state they have none to sell... they did that to me on Friday and Today, but I went to their shop and was able to buy silver. Can't always get exactly what you want, but in dips like this you settle for what you can get. If we get sustained low prices then the supplies dry up and we get high premiums like we had in 2008. Back in 2008, I was calling my dealer everyday asking and always NOTHING, I know better now... there will always be sellers at ANY spot price if you visit the dealers they will have something. Over the next few months I will stack 100's of ounces each week while it's in the 30's... if I see prices in the high 20's I will stack 1000+ ounces... if I can find that much! For everyone that was looking for a "pullback" this is it, but I don't think it will stay this low for long.
It is a pity your business is contracting. I wish you all the best in the future, hopefully expansion is on the way
