have been making jokes all morning i just thought i would explain why ....Because i learned something . Its always a good day when you learn a good lesson in life & i have learned more in the last week about the silver market than i have in the last year so im a really happy guy today.I always doubted they could manipulate a market to this extent but this is living proof !!! .So after being humbled by the big end of town i have a far better understanding of what they can do .Even if i lose equity in the next few weeks i'l have a much better understanding of the game so its a great day Anyone else feel they have learned something?.or care to have a bleat about there losses ? dont be shy who is in the red ? Im close !!! Im in for the long term so its not worrying me like anything you have good times & bad times...
Yea...I'm in the red now...but on the bright side, the purchases I'm making now will pull my 'dollar cost average' down That and it's nice to be able to buy in again at a price I was too late to enjoy earlier
I'm in red by AU$10/oz. Happy the market took a down turn though, more silver to buy for less - just means I hold onto this stuff for longer.
I've got to admit - I'm stoked by this "crash". I had unloaded quite a lot of silver leading up to about $45 oz because I just couldn't see the support (industrial etc). It looked classic speculation driven - manipulation upwards if you like. The problem was as it kept going higher I guess part of me was wondering what I had missed. Now I can start looking for a re entry and move on. I'm not fully convinced this is the bottom but it is showing signs and I have to admit to buying some small amounts. If you look over the last 12 months or so even at these prices it is showing well over 50% growth and even that worries me a little but I think it has been generally accepted that the industrial side was going to have to pay more. We just need to settle on where "industrial fair value" is and that will take a little time. If the price flattens for a while - this will be a good sign. If we shoot back up into the 40s again - I'll be concerned as it will show that the "exuberance" hasn't abated properly and silver is not being allowed to find it's natural price level. malachii PS Please remember this is my opinion only and MANY others on this site will strongly disagree.
I'm in the red too but I don't know how much nor am I worried haha! The benefits of being young and unmarried, RISK? NO PROBLEMO!
I've learned that even with this huge plunge, I was still better off putting $25K into physical silver 12 months ago than in the bank. So my return on paper is only 70% gain as opposed to 110% 2 weeks ago, it's still 10-12 times what the bank would've given me. The powers doing this are going to have to shake the tree a hell of a lot harder to get this little black duck out of his nest.
There will be only a few who arent hurting a little, my biggest hit was in ETPMAG, I forgot to place my stop
My silver stack is just over even based on silver value only but given this includes items which normally sell at a premium, I'm still ahead marginally. I also have some silver numismatic items which I don't factor into my calculations as numismatic value exceeds silver value, such as 1938 Crown in EF and Kangaroo at Sunset F15 privy mark. If I did factor them in only on silver value, I'd be well behind.
Thanks reno. I'm not in the red yet but I hadn't updated my spreadsheet since easter - boy that was fun Some parts of it are looking very crimson. It's interesting to watch the majority of your "paper" profits wiped with one keystroke.
My average (aside from premiums) is 27.38 but since I hedged my stack selling my investment portion, its 23.23
I am so happy to see silver back to $35 Looking for buy a little bit more dragons .... fingers crossed..... spot price stays low till later this year.
I'm happy theres going to be oodles of silver off the market - 'crashes' are great news for more than one reason. Buy it cheap and becomes a little rarer...
I haven't checked lately but i should still be okay. I haven't bought that many numismatic items so there are only the few 'overpriced items that i just had to have' that would be looking quite sad at the moment. I only wish i had some money to go again.
I am stacked at average 38.18/oz including all premium, postage, isurance etc and all in bullion coin 90% 1oz. So at the moment i'm about $6oz underwater. I guess for me to pull a stella spot would need to hit 130 or so. Nice move stella. I thought this correction (27-37) would come but it has rocked me a bit, not because it came but why it did (I was part of this . Some of the fundamentals have been grossly exagerated inducing emotional purchaces. Hindsight is like a clear rearview mirror so they say and if I could reverse, I would have started 10 years earlier :lol: . But I would have bought with much tighter premiums with an 80:20 1kg bar:1oz generic coin. I agree with renovator that lessons have been learned, particularly in humility and ignorance, but still feel overall silver is a good invesment whichever way the coin spins. But I've got to go back to trusting my own feelings rather than believing everything that Tom, Dick and Harry say.
Yes. It is refreshing to actually see something, that will go down in the history of silver markets, happen in real time and have a sense of understanding. It is one thing to look at charts of past years and speculate on the events, but another to know what the economic and sociological events surrounding the times were as well - the markets, real world events and the general behaviour of the public as well.
