Your strategy during the last silver spike $50

Hi members,

It's always great to hear from experience of those made good in the past peaks, and I think there is potentially another spike in the cards future, so want to learn all I can.

If you did well, what was you strategy and how did you recognise peak?

If your experiences were bad like below, what would you different this time?

didn't make money because you rode it up then rode it down
Or
Actually lost money by continually accumulations on the way up?

 

I only started stacking the past two years so I can't give my circumstances with last spike but I'm guessing/expecting the next silver spike to reach into the triple digits, and I won't be selling any of my stack for less then that.

 

I'd be very very tempted to start selling down if it approached $50.

 

Didn't have a strategy, just lots of fun buying and selling

 

If silver were to go to $100+ it would be interesting to see what gold would do

 

I was not around during the last peak but I have absolutely no intention to average up. It it's not around AU$20 or so then I ain't buying any more.
I have enough that if there is a spike I'll be happy enough to sell and make a profit. What the spike price would be to make me offload though I don't know yet.

 

I'd definitely sell if it hit AU$50

 

My strategy

at $40 I would walk into a dealer and offload 60% of my bars, this basically means my remaining 40% of silver is profit/free
at $50 I'd sell another 25% instantly
The remaining 15% I will hold depending on market conditions and analysis from commentators. Most likely use it as a building block for a new reweighted strategy but most likely if it goes high enough I'd sell move into a differnt investment for a while.

But I also have accumulation strategy.
At $15 buy 25% more
At $10 buy 50% more
At $5 stop buying lol melt all of it down and build a bird bath in the front yard.

 

It's buy 50 times more at AU$10

 

I wish to have given some away at 50, so that I can continue with this stacking hobby and buying some more at 15

 

Those in know called the last top, stellaconcepts nailed it, endlessmountain(now 'Silver Charts') also made the call, David Morgan warned of a potential top as well.

Good silver chartists will call the top pretty accurately and everyone will criticize them saying it will go much higher and then in hindsight you will see they were right.

Listen to those in the know and don't be afraid to take some profit on a topping call, I know I did and was glad I did, just wish I sold more.

 

did anyone have any trouble selling at the top? My fear is that everyone will be selling at 50.00, but as indicated in this thread, greedy is a powerful motivator. LOL. Sounds like most just hold in the hopes it will go to 75, 100, 500...while smart money is selling at 50...I hope I'm smart enough and not greedy to capitalize on the gains. I often wonder what will happen once the 500 million ounces of JUST the eagles flood the market for sale and profit, lol? But I'm making an assumption, that everyone is smart enough to dump at a certain 'high' price...and not think we are going for a moon shot.

I wonder if we will get a triple top and then drop considerably, and then eventually pop thru 50, and 50 will be the floor for a while...I look forward to the debate with the time comes.

 

Human nature will create a herd behaviour more people will be buying. Just like housing market

 

people who bought at 50 from you would hate you but they may pay you $400+ for that oz of marble silver :lol:

this hobby goes both ways, if one have never sell anything before, it would also be hard to buy from.

at 50 there were not much to go around, as the supply was freeze, delay etc caused such rocketed prices.

the price is as you ask, people may be willing to part with their cash for fear of missing the 4-5 dollars a day move, all one has to do was place orders till the dealers put up sign sold out.

 

The most notable trends when the POS reached $50 oz was

!. The GSR WAS as low as 35 to 1.

2. It didn't stay at $50 oz for any great length of time

3. SS members would stay up late to see what the market in NY would do when the market opened there

4..Members of SS grew rapidly

I did not buy very much when the price was moving between $40 an $50..I DO HOWEVER remember my worst purchase. At my local silver shop, I always had my eyes on the 1.2oz piedfort $10 bird series for $49 each.. I thought I was getting a bargain even if the silver price dropped to $40... Indeed it was a bargain at $50, good buy at $40 but alas it soon dropped to $30 oz and then to $20 oz.Would be lucky to get $25 for them now.

Regards Errol 43

 

@400 silver, I'm sailing the deep blue seas....never to return. lol. But then again, it may mean that fiat is worthless, and I'll be bartering for land, homes, and other things of substance. LMAO. although I'm dreaming we can hit high prices of silver, like Palladium did, without it impacting the economy in a major way. Then I'll be sailing the deep blue seas. lol.

 

I haven't been collecting foe long so I won't exactly have a wealth of knowledge but if there's anything I think people should aware of it's the sudden increase and decrease in price as in my experience (albeit limited) of research on the markets I've learnt it's the gradual increase and decrease which are more long term and the sudden movements are just temporary but over time I hope silver to have a gradual increase whilst improving on my tiny stack.

 

I was flipping on the way up and the way down so ended up with a huge stack. This was ultimately flipped into fifties so came out in front. However, those that did best, flipped silver for gold at 35:1, doubled their holding and lost very little on gold. Meanwhile, they have flipped back to silver and more than doubled again.

Any strategy at $50 again would need to challenge the value of fiat. It may well be that property has crashed and that would be a comparable hard asset. Same with the share market, there may be bargains to ride back up again. Either will be visible to the government.

 

I like the GSR strategy best, but I'm always apprehensive swapping gold into silver. I think I would rather stack silver when the GSR is high, all the while keeping my gold, and then when the GSR drops back to the 50s, 40s, 30s, etc, slowly swap silver back into gold. In the back of my mind I'm always reminded that central banks stack gold, not silver. Silver is also very industrial now, and will behave less and less like a monetary metal. My 2c...