That's interesting... wish AUSPM was still around to give his thoughts. Silver in backwardation is a strong hold signal for me... http://www.youtube.com/watch?v=NUM17Mj0dR0
In his words, "I am no longer a silver investor right now". The next few months will prove whether this was a smart move or not. But good luck to him. John has been quite public in everything he has done. That takes a lot of guts, he has copped a lot of flak from the YT crowd for making his actions known.
from a picking the high perspective he made a good decision, now lets see if he can get back in with the current suply shortage @ 42.61 =)
I'll try.... Hold silver. [insert insult to IP owners] Fundamentals to silver are all there. [insert insult to IP owners] Get rid of debt [insert insult to IP owners] Long rant about Investment property owners [insert insult to property owners] ... ... ... [insert insult to IP owners]*10
Haven't had a chance to watch the video, but if exiting silver right now provided the capital to help fund what might turn out to be a very successful business instead, it's the right move even if spot continues to increase in the coming months. Leverage.
I don't see why it matters what John does with his silver.... He did manage to pick the short term high, so good on him. He still has his core position to fall back on and is a smart guy, I really appreciate his videos. I was very interested in his comments on gold, and I think he is right that the minimal percentage moves in gold while silver is making big daily percentage moves is and was worrying.
He gives several reasons: 1. Silver was "overheated". The charts were "parabolic". 2. It is an investment after all. Made a considerable amount of Aussie $. 3. There will be a silver pullback that will take 3-6 months to eventuate. Downtrend. - The public is "too much in it". - TPTB will not allow the public to take part in a wealth transfer. He thinks he will get back in $27-33/oz ("subject to change"). - psychological reasons, new investors will get nervous when silver drops below $30
I have to admit that he makes fairly good points. In a healthy bull market there are big ups as well as proportionate downs.
Yeah, but I almost thought you was hinting at something gold related then... Actually began to bounce up and down in my chair excitedly...
Sure it matters.... I want to know what the big players are doing with their holdings because it may indicate a good time to get out, and I appreciate y'alls opinions too.
IMO he's spot on about the US dollar, which contradicts what a lot of inflationists here predict. The ol' greenback ain't dead yet. "Best house in a bad neighbourhood" someone described it. When the EU countries start dropping like flies, the US dollar will regained its safe haven status one last time.
Well he's holding his core position, but betting his speculative position on a substantial correction to buy back in. He expects silver to drop significantly over the next few months and admits he will be sweating on trying to time his re-entry. Never does he say this is over for silver. On the contrary, he reconfirms the collapse of the USD and PM surge thesis, but is speculating on the side that he can time his re-entry and acquire more silver with the profits of his weekend trade. I say anything can happen at any time at the moment and trying to be too cute and timing re-entry points is dangerous - for me. At the moment I see the UDSX at 73.6 and still falling, with silver holding $45+ and gold holding $1500+ (USD). Talking technicals, support levels, fibbonaci retracements, RSI, etc. is all fine until something happens in the real world that isn't paying attention to charts and patterns. Things could turn worse very quickly at the moment.
I am a little surprised that he would sell all but his core, but i guess it makes it a safer way to trade. The truth is that, no one has really been able to predict silvers moves consistently and I think its a dangerous game to trade in. Alot of investment has come into silver very recently and the price has responded, in turn it has gained publicity and brought PMs into the spotlight even more. What I am trying to say is that the last week could just be the tip of the iceberg of what may be a much more substantial run. Profit taking at $48-$50 has occurred and there are still buyers consolidating their holdings at these prices $45+. Newer hands, Hold that silver tight. If you want to trade, like stella, know the risks.
Bear trap? Heading towards the end of the Awareness phase? http://macrobusiness.com.au/wp-content/uploads/2011/03/bubblesandmanias.gif
Definitely doesn't seem like the public is in the silver market at the moment... but given the volatility of the silver market it makes sense to leave if you have better opportunities elsewhere, it really just comes down to risk/reward.
I'm new here but have been quietly buying silver for 6 months, however I must say this youtube video made me think. It's so hard to know what to believe, so many "silver gurus" saying different things. I think there were some valid points in his video for selling though.
He's made a bucket load selling his investment portion (400%+?). I'm sure his core position is just as significant. Can't a guy reevaluate? Reading some of the YouTuber's criticisms (some very harsh and personal) of his actions, I feel many of them are just insecure about their own positions/strategies. Given that, I have to admit, I am a little surprised.
