looks like a dead cat bounce
- Thread starter Nub Cannon
- Start date
Matthew 26:14
New Member
$20 by September PLEASE I want to stack up on the Dragons !
PerthStack
Member
If silver is $20 when the dragons are released, I doubt they would last the first day.Matthew 26:14 said:
SilverSanchez
Active Member
Im picking a bottom of $25.18 AUD by the mid-end of may and it trade sideways between that and $32, Gold will get some love I think and silver will follow in tail. But this drop will cause many to loose confidence in the metal - so the denial stage of the bull market will last longer.
IMHO - this only totally confirms to me that Silver is going out of every speculative ballpark and is going to easy reach tripple figues, where it should stop but because of the mania it will go an extra 200% past where it should stop. Im no professional, but i know some psychology - this will keep people at bay for a while - then when everyone comes back into silver - it will be at prices nobody ever dreamed possible. (one coin dealer i know said he was gob smacked when it hit $20) try $220?
IMHO - this only totally confirms to me that Silver is going out of every speculative ballpark and is going to easy reach tripple figues, where it should stop but because of the mania it will go an extra 200% past where it should stop. Im no professional, but i know some psychology - this will keep people at bay for a while - then when everyone comes back into silver - it will be at prices nobody ever dreamed possible. (one coin dealer i know said he was gob smacked when it hit $20) try $220?
Contrarian said:
Yeh, makes you wonder, do you want the price lower or do you want it higher ? Im sure deep down everyone wants the price higher, they just want to make sure that when it does shoot up they have enough so they can be turned into millionaires. Problem with this theory is there will always be new buyers who dont have enough (causing this "yes" price is going down great mentality) and want the price lower, or human greed takes hold and you just NEVER have enough :lol:
I always thought having the price gradually but constantly goes up was the best, means when you buy you never go back into the red ... kinda like what gold has done for most of its time
IMO buying silver and expecting to be turned into a millionare is extremely unrealistic, it wont make you rich all it will do is protect you from fiat destruction, inflation and act as a good insurance policy with whats happening in the global economy.
Mike Maloney says "buy at any time" id tell him to get f**ked because that is extremely misleading and people who do will get burnt. People have to realise that these guys sell silver so of course they want you to buy at any time because they get richer.
I have a good friend who wanted to invest in silver when it was $44 aus near the top of that hyperbolic move, i told him to wait because nothing goes up that fast that quick and told him to bu a small amount (2kg) when it came down based on previous corrections i thought it would drop 25 - 36%
If i didnt tell him that i wouldve had alot of sleepless nights knowing that he wouldve dived in at a peak with $20,000 and for someone who has never invested in anything the psychological impact wouldve been bad on him.
Buy on the big corrections, dont buy too much at once, only buy as much as you can afford to lose and dont get sucked into believing it will go to the moon.
It might seem that I am bearish on silver this is not true, i just want people to look at this realistically and not get caught up in the hype because i know i did when i first started buying silver and it made me put too much of my money in too quick and at the wrong time.
In the end it could be that the number of ounces count, but by buying at the wrong time that will drastically effect how many ounces you will hold in the end.
For me its a long term investment, im expecting this bull run to not go further than 2015 and will be taking profits on hyperbolic moves.
For all us silver investors lets hope it works out and we dont get screwed over by the big guys
Anyway on the speculative side my guess is that we will see a consolidation period until qe2 ends then who knows what impact that will have
cheers
Mike Maloney says "buy at any time" id tell him to get f**ked because that is extremely misleading and people who do will get burnt. People have to realise that these guys sell silver so of course they want you to buy at any time because they get richer.
I have a good friend who wanted to invest in silver when it was $44 aus near the top of that hyperbolic move, i told him to wait because nothing goes up that fast that quick and told him to bu a small amount (2kg) when it came down based on previous corrections i thought it would drop 25 - 36%
If i didnt tell him that i wouldve had alot of sleepless nights knowing that he wouldve dived in at a peak with $20,000 and for someone who has never invested in anything the psychological impact wouldve been bad on him.
Buy on the big corrections, dont buy too much at once, only buy as much as you can afford to lose and dont get sucked into believing it will go to the moon.
It might seem that I am bearish on silver this is not true, i just want people to look at this realistically and not get caught up in the hype because i know i did when i first started buying silver and it made me put too much of my money in too quick and at the wrong time.
In the end it could be that the number of ounces count, but by buying at the wrong time that will drastically effect how many ounces you will hold in the end.
For me its a long term investment, im expecting this bull run to not go further than 2015 and will be taking profits on hyperbolic moves.
For all us silver investors lets hope it works out and we dont get screwed over by the big guys
Anyway on the speculative side my guess is that we will see a consolidation period until qe2 ends then who knows what impact that will have
cheers
When Mike says to buy always in small amounts irrespective of price of silver, he is actually right !!!
What he is advising is a certain percantage of the monthly budget to be set aside for precious metals purchases, he is not saying to take $20k and put it into silver.
Regards your friend who almost jumped in at $44 AUD with $20k !?! - i am sorry to say but the people who have never bought silver, havent been buying whilst silver was less than $30 /oz DO DESERVE TO BE FLEECED like that. Where were they before ? My bro in law was considering maxing out his credit card when silver was $40 AUD per oz !!
and when i was showing to him silver coins back in the day when silver was $20/oz he just thought it was nice and a nice hobby - it never occured to him to max out the credit card than. ??
when an asset has doubled in price in a few months and than one decides to go all in - in my opinion that person does deserve to be 'burnt' a lil.
Because that move isnt bullish, it is piggish ! pure greed
What he is advising is a certain percantage of the monthly budget to be set aside for precious metals purchases, he is not saying to take $20k and put it into silver.
Regards your friend who almost jumped in at $44 AUD with $20k !?! - i am sorry to say but the people who have never bought silver, havent been buying whilst silver was less than $30 /oz DO DESERVE TO BE FLEECED like that. Where were they before ? My bro in law was considering maxing out his credit card when silver was $40 AUD per oz !!
and when i was showing to him silver coins back in the day when silver was $20/oz he just thought it was nice and a nice hobby - it never occured to him to max out the credit card than. ??
when an asset has doubled in price in a few months and than one decides to go all in - in my opinion that person does deserve to be 'burnt' a lil.
Because that move isnt bullish, it is piggish ! pure greed
Royalewithcheese
New Member
i beg your pardon. did you say people like myself that got in late DESERVED it?
Royalewithcheese said:
Everyone but You !
Nub Cannon
New Member
euphoria said:
my game plan is kind of similar I hoard gold, trade silver and make it rain fiat :lol:
THUCYDIDES79 said:
I saw a video where Mike Maloney said he bought on a peak a few years back because he couldnt keep holding out for a correction, he then said "if i had my time again i would have gone all in on that peak" this advice is misleading because we are in the later stages of this so far 11 year PM's bull market (IMO 2015 will be near the end) and if some poor bloke goes all in listening to Mike near the end and loses the lot because he is not educated properly on investing in PM's and doesnt realise his timing is wrong he will get burnt hard.
Not everyone knows what money is and where it comes from and how corrupt the global central banking system is, everyone learns this for the first time, some later then others and some never. The amount of propaganda the mainstream media/government throws at people its no wonder that most people have no clue.
So saying that someone deserves to be fleeced because he has finally searched for some truth and realised what paper money truly is and is trying to protect himself from the destruction of it but being uneducated about how todo so properly because of guys like Mike Maloney and other "buy at any time" spruikers, is just fu**ed up.
Not everyone knows how markets work and what is a speculative move in price or a fundamantal move in price. From what ive seen alot of PM investors are smart guys who have an idea of whats really going on and being hard on someone for being "late to the party" because the advice they have been given previously was misleading, is very shallow. These are the guys we need to educate and not let get caught up in the hype
If you are buying silver, lets say $300 per month ( nothing major ) and you are in for the long terms and dont have plans to sell it in 6 months - than you cant be fleeced - you will make money.
but if you are buying the silver, JUST BECAUSE it doubled in price in 2-3 months and you are greedily waiting for the price to 'explode' in another 2-3 months - and than you end up losing some money since the price didnt explode but it tanked. ... Well too bad.
And those that found silver in the last 2-3 months - didnt necessarily search for the truth - they searched for an asset that outperformed all others - from their point of view they would be buying Pork Bellies if they could return them some profits.
those who were buying when Silver was less than $20 /oz - they are the ones who searched for truth about mney and who did/doing something about it by making purchases regularly
but if you are buying the silver, JUST BECAUSE it doubled in price in 2-3 months and you are greedily waiting for the price to 'explode' in another 2-3 months - and than you end up losing some money since the price didnt explode but it tanked. ... Well too bad.
And those that found silver in the last 2-3 months - didnt necessarily search for the truth - they searched for an asset that outperformed all others - from their point of view they would be buying Pork Bellies if they could return them some profits.
those who were buying when Silver was less than $20 /oz - they are the ones who searched for truth about mney and who did/doing something about it by making purchases regularly
Not everyone getting into PM now is doing it for a profit so to speak. Take myself as an example. I have known for a long time that Gold and Silver IS money. I am not an owner yet purely because I made a conscious decision to play it riskier and bet on commodity stocks with the intent of getting into physical with the profits to "Lock them in in real money". I had a goal of how much "paper assets" I wanted to be at before I started using anything over that to buy physical.I see my stock portfolio purely as paper/computer screen figures and currently my wealth is ZERO because I see my wealth as how many ounces I hold. Not so much what those ounces are worth in fiat but physical ounces because I don't intend to sell any of these ounces until I need to draw on them in retirement and I am betting we will see a period of hyperinflation between now and then. While I intend to do some trading in coins and bullion along the way it is purely a way of amassing more ounces.
Just my take on it.
Cheers
Chris
Just my take on it.
Cheers
Chris
Yippe-Ki-Ya
New Member
pmstacker said:southerncross said:
It depends where you bought in tho , and how you bought in, was it on credit or was it cash
Even if it was bought on credit so what?
Yippe-Ki-Ya
New Member
bgtrader said:
lol. no wonder i cant leave this place alone for too long... always a source of comic relief
Yippe-Ki-Ya
New Member
Contrarian said:
Unless you're a short term trader then i'm afraid it definately IS going to turn out being a pearl of wisdom
Contrarian
New Member
Yippe-Ki-Ya said:
When people are closing their eyes to buy, it's time to close your eyes and sell.
C
Contrarian said:
So true...