For silver ever to get to $60oz, it first has to get past the barrier of $50 which IMO will prove a huge hurdle. It will IMO have to test $50 for several weeks before it has any chance of breaking free. My plan at $48oz silver is to sell half my stack, then the other part of my stack will have cost me zero $. You must be dreaming Errol. keep buying at $21oz and you will be able to do it $42oz. Regards Errol 43
Aye, when/if the time comes you're going to want to take profit well before it gets near $50. Then you wait it out, hoping it beaks new ground before buying back in. 1-2 punch of quick profit in an ideal world. Uncharted territory = big potential for a tasty spike. People will buy in like mad if that ever happens. Oh yeah, before you even start, don't pick the above apart, I'm allowed to dream of better times.
Errol my gut feel is if it ever hit $60oz many people would have sold their stack between $35 and $45 (or whatever depending on their reasons, sell all for quick profit/sell all to square up and get out of the game altogether) and would never realise the $60 anyway. I have pondered though, what would be more heart wrenching, selling out at say $35 and watching a price soar to $100 with nothing to sell, or watching the price go from $20 to $50 then back down to $20 without selling a single ounce? For some strange reason although option A would give me a profit, I'm more comfortable with the latter. Good luck.
Easy answer is Sammysilver would. :lol: Yes many SSers would buy at $60 because they would be sure silver was going to $100 or much, much, higher. $60 means the old $50 all time high had been passed and silver would be in the news. SS would have greatly increased membership and the newbies would be eager to buy, buy, buy. You are trying to apply market bottom buyer actions to a bull market scenario.
I have NIL idea what I have paid over the years. I look at W Davis etc and find a fair price that day and I pay it! By the time I sell my first ASE I will be laughing at what it may have cost me. "Silver, is silver, is silver!" OC
You insult me. If as the original post suggested that silver hits $50+, as I have often said, that would be an indication that silver has accelerated faster than gold, thus dropping the GSR to maybe a hypothetical 30ish, half what it is now. At that time, bearing in mine that fiat would not be a consideration, I would sell/swap silver to buy/swap gold. When the situation plateauxs, as silver steadies, gold catches up and the GSR will probably increase. If it hit 50+, I would reverse gold back into silver. During this time, I would use any spare fiat I had to fascilitate these moves because I already have a motza of sub $24 silver. Need I need to repeat myself, now is a golden time to buy silver!
Totally agree, when silver finally breaks above 50 at who knows what time in the future there will be many people believing it will be going a lot higher and they will be the ones buying your silver. Of course that will be the hardest time psychologically to sell because everyone will be so bullish then.
Not an insult, just a prediction based upon your personality. I expect you to be cheerleading silver at $50, $60, $100, etc. Not sure what a motza of silver is, but it sounds Italian.
To repeat myself, I am not cheerleading silver, but booing the economy. Depending on your bent, you could be stacking, gold, platinum, petrol, food, or whatever. When the economy crashes, other than some fiat in my back pocket, I will not have money in the bank.
