Interested to find out everyones sentiment about silver after this take down in price. Has any physical stakers been swayed by Mainstream Medias sentiment? Are you a long term or short term holder of physical? Before this take down, did you have strong convictions for holding silver? Are your convictions strong still to hold? Have you questioned your decision to hold silver during this take down? (Even a little?) Have you sold or added any due to the take down in price? Are you a long term or short term holder of physical? Long term Before this take down, did you have strong convictions for holding silver? Very strong Are your convictions strong still to hold? Yes Have you questioned your decision to hold silver during this take down? (Even a little?) There have been times, its hard to watch potentual losses even on paper but mainly due to the fact Im only new and I bought in at $35-30 and realise if I had of waited I could have 25%+ more silver at these prices but hindsight is always great Have you sold or added any due to the take down in price? Added to stack as I believe all the same reasons still exist even though MM sentiment seems to say otherwise.
Added to my position. Only sold a bit of silver to buy gold stocks. I see this correction as healthy for silver and a great opportunity to buy.
lol yep a great Opportunity to buy is always just around the corner just like @ $45, $40, $35, $30, $25 and now $20 yep back the truck up -- what can go wrong
I would add the same sentiments already posted. Longer term, and not all that long, I am very optimistic and I am sure I will look back on this time in years to come with great satisfaction. I can see myself gloating, just a little, to the many nay sayers that my position was a sensible one that has paid handsomely. I have sold some generic silver and replaced this, ounce for ounce, with semi numismatic silver and I am already in profit on my new purchases. My cost average continues to fall as I keep adding and at present my balance sheet loss is very minimal and IMO has a very healthy prospective future. It's very tempting to sell some gold and replce it with silver but I am holding off on this as I still have some cash funds available for buying more silver. If the GSR remains high and silver spot stays low I may still do this depending on how my reserves hold out and how trigger happy I get.
Are you a long term or short term holder of physical? Long term Before this take down, did you have strong convictions for holding silver? It's not a take-down....it's a much needed correction. Strong Are your convictions strong still to hold? Yes Have you questioned your decision to hold silver during this period of correction? No Have you sold or added any due to the correction in price? Added...it's a good time to buy and when the true bottom comes in, it will be even a better time to buy. .
I am buying silver. Also looking to see what I can sell that I no longer value in order to buy more silver. Should it drop further, then I can buy even more silver. As I'm over 60, now might be a good time to cash in some super and buy silver. Expecting a windfall from overseas in the next few weeks, I'll use it to buy silver. I believe silver is the most undervalued PM at the moment. My worst case scenario is that gold drops to $720 and silver drops to $18. I would then swap my silver for gold at a GSR of 40. Totally hypothetical of course but at a current GSR of about 64 silver could not drop at a larger rate than gold at these current levels.
Cashing up at the moment, no silver for me. Don't know what it's going to do, but rather wait and see than dive in now.
Selling my low premium silver like ASEs and will sell others if I can get a decent premium and while I still have a profit. Net short silver now through hedging and plan to increase my short postion soon by adding more shorts and selling more silver. Now that I understand what is going on, I feel like an idiot for not selling out at higher prices, but that is hindsight. My only concern now is where silver is headed in the next few months and I believe that is down, down, down. On the plus side, if I am right, miners will be at 2008 price levels or lower and we can buy dirt cheap quality miners.
Thanks for quiz Are you a long term or short term holder of physical? I'm a holder until certain eventualities eventuate. If these don't eventuate in the short term then that means I'm long term. Before this take down, did you have strong convictions for holding silver? Very strong Are your convictions strong still to hold? Yes Have you questioned your decision to hold silver during this take down? (Even a little?) It's increased the attractiveness of gold Have you sold or added any due to the take down in price? Added but except trying to get a good price at the time the price doesn't matter. Stacks are measured in ounces.
Adding to the wisdom of not putting all your eggs in one basket, if gold drops to $720, silver will easily be below $9, not at $18. If you want proof, look at 2008 charts. Someone who is 60 should not be gambling by putting a significant portion of their wealth in silver. I myself have too much in silver, but it is now hedged. And due to selective buying of mostly semi numismatic coins, I should be able to average a nice profit on the sales. The GSR is probably going to go to around 80 or 100 to 1. And silver will and always has gone up or down more than gold. If you really believe the things you wrote in that last paragraph, you do not understand silver. And what you don't understand, you shouldn't own.
I don't think silver could ever fall below $9 in this current environment. and if it should, and I haven't sold down, then I would have a shitload of $9 silver. The other calculation to consider is that here in God's country, if silver were to fall to $9 it would only be because the USD is strong. The corollary is that the AUD would also fall thus taking silver spot to $15+, thus silver acts as a hedge against the USD. Finally, as to the 2008 charts, that happened, it's not now. Now is a totally different proposition. We can only learn from the past, not relive it.
Im a long term holder of physical if I were in pms short term Id buy paper. Before the takedown I had strong belief in silver but stronger in gold. I still maintain that belief but am more bullish on silver at this point due to gsr. My stack is currently at almost 110/1 ag heavy when the gsr gets to a more favorable rate Id like to trade it down to 50-60/1. Ive questioned myself for not swapping some of my ag for pt when it was 47/1 last winter I was waiting for 45/1 it taught me to not set targets at round numbers. Over the last couple months Ive add about 15% oz.s to my ag. And about 10% oz.s to my au. Ive been able to bring my cost average down about 1.50/oz. I still plan to buy a 10 oz bar at least every month until tge price of physical is within 1.00 of my cost average.
I'm a long termer, 5 to 10 years at least. Basically it's to preserve some wealth if inflation begins to take off down the track. My biggest concern is what rules may change in terms of holding PM's if the economy and fiat currencies really go south resulting in PM prices shooting up substantially. If say in five years gold ends up at $3,000 and silver $50 that may not cause too much angst for the central planners but if gold winds up at $10,000 and silver $200 then I would expect that would attract some attention. In 10 years stackers holdng sizeable quantities of PM's may become targets for bankrupt governments and that poses a problem in how will you turn your stack say into property or something else without most of it being taken away either through confiscation or exorbitant taxation.
Are you a long term or short term holder of physical? Long Term Before this take down, did you have strong convictions for holding silver? Yes Are your convictions strong still to hold? Fairly strong Have you questioned your decision to hold silver during this take down? (Even a little?) Heavily questioned my decision. When it broke USD $26 my confidence in Silver & Gold's predictability was shattered like forever. Am now totally reliant on gurus like Marc Faber, Armstrong et al Have you sold or added any due to the take down in price? Have only added since April 2011. Added some silver, gold, platinum in the last month, incl 200 ozs unallocated Ag at my dealer.
+1 I made a purchase today. Are you a long term or short term holder of physical? Long. Before this take down, did you have strong convictions for holding silver? Strong. Are your convictions strong still to hold? Yes. Have you questioned your decision to hold silver during this period of correction? Yes. But I think questioning and reassessing is good. I think if I never question myself, re-check information sources, do my due dilligence, I think that would be unhealthy. Have you sold or added any due to the correction in price? Added today. If the price drops further I'll add more, if it goes up I'll add less.
so can I and I am -- unless it is an unforeseen circumstance that forces me to sell some. i.e vet bills. I view my silver stack a a forced savings plan that has the potential to make me some money in the long term and it keeps the profits under the radar. I am still purchasing little bits and pieces ( just placed an order for 4 x warbirds ) just select pieces that I am gambling on the premium rise as I think PMs will go sideways for a while yet, but I am not betting the house on silver either or "backing the truck up" I think the later end of your prediction 10+ years will be about right until I see a decent return on the physical metal itself. the bulk of my spare capital will be going to the stock market until QE stops or at the least eases off, even if it does go sideways I will still get paid dividends.
