Certainly here for da bitches lol And agree this smells of 2011, which im fine with, i made allot of money from that pump. It looks potentially tobe a good selling period not a buying period. Which is very much what 2011 was
Do you think we're now at the equivalent of 2010? The crisis isn't even over yet. The financial phase of the crisis is yet to come and if it happens will hit silver.
Over what time period are you talking about? 2011 had peak to trough decline of $23 and still didn't get below $26. It has to go up before it can come down. The fundamental pressure is up, but as of tonight I'd say the technical barriers to a rise are also gone. Usually after a big fast run I'd expect a retracement, but it might not happen now.
Maybe you’re referring to physical prices? For paper, as we have seen in March, any price is possible regardless of how high it goes, it just gets slammed back down, maybe it won’t be as low as in March but $15-$16 is not impossible. I’m still hanging onto my SLV for time being. For physical, I won't be selling any physical silver unless it's triple digits. Since I won't be flipping, it doesn't make sense to chase. Might as well wait for the pullback.
Yes i agree about the financial smack down yet to come and will effect silver. So yes if it goes big now, im Not sure it will be as long lived of a pump as that 2011 pump So im keeping my self prepared to sell if i have to. But obviously this is all speculation, this covid thing has been messing usual silver trends, has been mssing eveything up. So its a little harder to predict than usual. But i would love a massive sharp rise then an eqaully big price smack down to buy back. Only time will tell i guess. Covid era market has been a weird beast to deal with so far.
It is certainly uncertain in terms of the markets. I was expecting another run down and if this happened yes it’d drag down silver and gold, but the effectiveness of the central bank printing (I fucking hate it don’t get me wrong) was already making me wonder if we are going straight to the Japanese model. The stock markets could grind lower or sideways without a crash that drags down inflation and disaster hedges like PM. In March traders had to meet margins but in the second phase they might just accept losses. With the strength of the move last night (and it continuing outside the familiar range) my mindset has changed. I think the swing back and forth for silver is over barring another liquidation event that is. Interested in your thoughts.
Wow silver really rocketed off overnight. I had the idea that there was a target where silver would encounter resistance level at USD 21.0 to 21.50. This was the first of 3 I heard. What is the next target sit at?
My wife and I were talking about grocery prices and how much things have risen recently. She does most of our shopping and she sees it weekly. Then we were laughing at how she used to ask me "Dont you have enough silver? Do we really need more?" I'd just tell her again and again that it was our savings and no, we never have enough savings. I've said before that buying gold and silver has never once given me buyers remorse and its true. I never felt bad trading my fiat for real damn money, never. I also still stand by the fact that theres nothing safer. I was betting that this would happen years ago but I knew it could go on and it did....more time to stack and I was thankful for the time I got. I will still buy at these prices and it wouldnt worry me, as close to spot as I could get it. (Just a habit haha) The sub $20oz days might be forever behind us. 82 to 1 $22.75
You have a supportive wife. A year ago I had to do a late evening F2F transaction for 10 oz bars at $10 over spot each, one of the rare secondary market purchases I was able to make. I had to spend 15 minutes explaining to me wifey that the deal was a good one, and it was $10 cheaper than buying from the shops.
I blinked and then it hit US$22.50 Aussie battler still high though which is keeping the AUD price of gold low and not anywhere near it's previous highs.
