Down on your knees, silver!

[Matthew 26:14]

USD $26.50 broken on silver. That was the line in the sand on the charts. Who knows how low from here. Uncharted territory.

Uncharted territory ?

What you mean it's never traded below $26.50 before ???

If you follow charts you would realize $26.50 was a resistence point since silver crossed that mark back in 2010.

 

[Gunna]

the value will be going up again....maybe significantly by September.

And what if it never goes up again?

Silver and Gold will always go up. It is a finite resource that people want, when it goes up is the question though. It will go up but it may be in 20, 30 or even 40 years. No one ever thought Gold would $1000 but here we are.

 

[mmissinglink]

Gunna, what would be the deductive logical argument behind the premise that PM's may ride low for decades? Anyone can make up any numbers but the fact that gold went over 1K is not an argument for the PM's staying low for decades.

 

[Alfie]

I've got it all sorted
Enroll in the next jewellery making course at TAFE, melt down my entire FARKING PM stash and make bloody nice rings.
Let's see... with the course fees, lost work income, equipment setup costs and the hours needed to get to a "commercial standard", my business plan indicates I only need add 127.6% on my average buy in price to be a WINNER
Yes I feel better now, much much better.....

 

[jjrici]

then no need for $14, by your own admission, you should be be buying a plenty based on recent price movments. Especially with your logic you would have started buying after it hit all time highs a couple of years ago.

You should be stacking a very nice stack at prices much much higher than today.

Well done mate

 

[jjrici]

USD $26.50 broken on silver. That was the line in the sand on the charts. Who knows how low from here. Uncharted territory.

Now this a guy who really really needs to be taken seriously on this forum.

A long timer, been around 10yrs+, given that he was around in 2003, i would speculate that he has exerience of PM cycles long before this (notice the popularity of this forum is directly related to the price of PM).

 

[Matthew 26:14]

^ Metals have basically entered panic selling on the markets. Where it stops it hard to tell because logic, fundamentals dont matter when the herd mentality takes over. Yes it all the "paper traders" pushing the price down. Traders are seeing red and when in doubt, they sell.

Experience has told me to keep well away from these events and be like a mouse (pick up the crumbs at the end).

 

[mmissinglink]

then no need for $14, by your own admission, you should be be buying a plenty based on recent price movments. Especially with your logic you would have started buying after it hit all time highs a couple of years ago.

You should be stacking a very nice stack at prices much much higher than today.

Well done mate

I have no idea who that was addressed to or what it means but $14 was not meant to be a prediction of where I think silver WILL go. In the unlikely event that it does though, that's pure opportunity to buy big.