Your strategy during the last silver spike $50

Yes, yes, the GSR is the strategy I will deploy too. When it gets to 35/30:1, I will start to sell my silver holdings and roll into gold. I think that is a great strategy. Of course not all my silver, but a big chunk, like those beautiful lunar kilo horses!! Great idea Sammy!! I'd imagine flipping like this on the major swings, which probably don't happen that often, can really be profitable.

 

A lot of us called the top and even more underestimated the correction.

I have forgotten this guys name, but he was British and I used to listen to his interviews on KWN. Using fractal analysis, his company nailed the April, 2011 top and the initial $10-15 down reaction. Unfortunately, he was continually wrong after that.

Barsenault, selling the very near the top is extremely easy. I didn't have much at the time, but I sold some silver in late 1979/early 1980 when it was somewhere between $40 & $50. Companies traveled around to buy silver. Selling will be easy. Having the mental fortitude to sell when everyone around you is talking silver and saying how smart you were to already own it, that is where experience comes in handy.

For all those dreaming of $10000 gold and $100 silver, just remember what happened in 2008 (gold down 30% and silver down 60%). Hyperinflation starts within a depression and we haven't had the depression yet. But we are likely to have another SHTF scenario late summer-early fall.

 

I bought well before the peak but did not sell into it. The point about sellers around the $30 to $50 range is valid. I would not be surprised if the next spike will be like the spike in 79/80. Fast and furious.
Be prepared to wait another 10 years if you want to build a decent base in the silver price to propel it into the hundreds of dollars.
To give you a comparison.....my friend bought a 1kg silver bar for $1500 in 1980...she still has it.....that is over $6000 in todays money...probably more.....that's about $200 an ounce.

 

What about the years 2000 to 2005 when silver was as cheap as $5 to $7...We all missed the boat! My M8 at the local coin shop told me that there was no interest in buying silver during this period. People would bring $10 state coins into his shop to try to sell them, he told them to go to the bank and get $10 for them as the going price was around $5..Round fifties were also around $5...

The world had not seen a GFC UNTIL 07/08.BEFORE that we were all asleep at the wheel...I often wonder how many of us here on SS were stacking before 07? Buying at $5oz and selling at $20 is far better than buying at $20 and selling at $50...

Regards Errol 43

 

dccp, u still standing by your $10.00 price tag? LOL. hopefully you loaded the boat like some of us when it bit 14'ish

 

Sorry if this does not make much sense or if I come across as someone who doesn't have a clue bur judging by the prices between 00 and 05 and 11 to 16 would those prices average out to give a norm price? Or shall we assume that the prices between said time frames are really cheap or expensive? What are the chances silver would drop to the levels we saw between 00 and 05?

 

Why not? We have had prices rises like this before, followed by new lows. Look at a weekly silver chart. To me, this period looks very similar to mid 2014-early 2015. Exciting at the time and now just another blip on the chart. I am well positioned for a price rise or another new low. Wake me when we get back over $20.

 

LOL. Wake me up when it gets to 10.00. I think I'll be sleeping for a long time, maybe forever. Where as I may be waking you up in short order for the 20 mark. LMAO.

 

I think that most pundits believe we won't see sub USD$10 silver again. USD$15 seems to be the new average like it was 2006-2010. The 2011-2013 spike was unprecedented since 1980

 

The truth is none of us knows for sure what the price will be tomorrow but I'm putting my money on 2016 being the year of the Silver Phoenix....rising from the ashes .

I'm not predicting a new high or even a price at all and of course there will be volatility (some significant ups and downs along the ride up)....just that this year is the beginning of a new bull market.



.

 

The commodities market in general is looking like it's making a comeback. Silver & gold will go with it.

 

Quite interesting, reading everyone's view. So am I the only one with a hard and fast strategy?

 

open the worms cans

when silver hit 8.50 there was a call option being exercised at 12.00+ then SLV was born, poor Buffet sold too early :lol:

second crashed did not bring fort wind, but more silver spots everywhere

 

Buffet supposedly sold his silver to get out of some legal troubles (SEC?).

 

I've already been selling a bit into this recent strength (here in USD land).

Probably too early, like I always am.. But simply re-jiggering the stack/collection.

Getting rid of some garbage, and using part of the proceeds to get into some nicer stuff.


Sell a bit here & there, and if/when it goes higher, sell some more.

The higher it goes, the more you sell. Gotta stagger it like that.


But there's some stuff I'm simply taking to the grave -- or at least my heirs will get it.. And odds are, they'll appreciate its beauty, anyway, and hopefully pass some of it down from one generation to the next.

 

I've noticed this, too, during this little recent run-up, prior to reading your post.


Will it stay here? Go higher? Go back down?

And if either or both of the latter two, then to where, exactly? And when? How long will it take?


Spin the wheel, nobody knows!


But I do know where it's at now -- and where it could be down the road.

Hedge accordingly..

 

Yeah, he had a sh|t-ton of the stuff at the time..

Bet he was kicking himself as it climbed higher & higher after he sold it all.


Have to wonder what his true reasoning was for selling when he did..

 

he lied about silver not earning interests, he must have written a call option to earn the premium, and thought it was safe, since no one would exercise that option and over paid the $2 difference.

but that time, the actual metal is a must to back the SLV, so circumstances were different :lol:

simple he lost the bet and delivered all his silver for paper. he can always buy back his silver, but he never?

that was the logical explanation heard so far.

 

thought the AIG sold insurance for the collapsed towers, and must pay up, it was later bailed out, not sure how that all went.

the company was removed from him for other deals...no proof so far but that could be some collateral thing on and on

pure speculating

 

Mr Sinclair got mentioned, the "run up that you will never sell" good to keep in mind