Silver needs to drop to $24

M

Miss Silver

New Member
So I can make my last buy till later this year.
Please silver I wanted you to go to da moon and you didn't and now I ask, could you please give me this one wish...
 
Why cant you buy at $27? Its a bargain right now, no need to let it drop to $24...not much of a difference.
 
The easy answer is that I bought at $40 because it was a bargain an $37 and $34 and $30 and so on.
Now I'd like it abit lower for one last purchase till later on in the year.
My focus is now on gold and a last purchase of 5k silver I'd like to see a bottom.
 
Buying frequently on the dips lessens your risk of missing the boat should it not dip to your magic number.
 
RetardedMonkey said:
Buying frequently on the dips lessens your risk of missing the boat should it not dip to your magic number.
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+1.

When it hits $24 most people will...

Wait for $21.

When it hits $21 most people will...

Wait for $18.
 
Clich: Catch a falling knife
Explanation: 1. To buy a stock as it's price is going down, in hopes that it will go back up, only to have it continue to fall.
Country: United States
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That is a powerful lesson to learn and really, it hasn't cost you anything if silver retraces its fall. Hoping for continued weakness though means you probably haven't really learnt the lesson your experience has tried to teach you.

Buying the dips in a rising market is sensible, waiting for further weakness in a falling market instead of seeking to identify the bottom is illogical.

[youtube]http://www.youtube.com/watch?v=lbg6xoS3K3U[/youtube]
 
Gino said:
Clich: Catch a falling knife
Explanation: 1. To buy a stock as it's price is going down, in hopes that it will go back up, only to have it continue to fall.
Click to expand...
By this definition, everyone who has bought silver since April has been catching the falling knife.
 
RetardedMonkey said:
By this definition, everyone who has bought silver since April has been catching the falling knife.
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Only with hindsight I'd argue.

If the term 'falling market' is being used to express the same thing as 'downtrend', then by convention what is meant is the sequence of a lower high followed by a lower low. Those conditions were only met by the spike down in September. Some would also wait for some 'confirmation' such as the 50 day moving average crossing below the 200 day moving average (so called death cross), which didn't happen till beginning of November. That's about when any near term optimism crashed for me.

When you think about it, any dip that looks like cheap buying could turn out to be buying into a falling market. At what point do you decide that the falling price is not just a retracement within a bigger uptrend, but has become a real downtrend?

silver2yrdlyjan32012.png
 
fishball said:
+1.

When it hits $24 most people will...

Wait for $21.

When it hits $21 most people will...

Wait for $18.
Click to expand...

LOL yep. I bet many stackers where dying for $29 silver when Silver was stuck in that $30-$32 range. Now we have $26-27 they still ain't happy :D
 
Ernster said:
fishball said:
+1.

When it hits $24 most people will...

Wait for $21.

When it hits $21 most people will...

Wait for $18.
Click to expand...

LOL yep. I bet many stackers where dying for $29 silver when Silver was stuck in that $30-$32 range. Now we have $26-27 they still ain't happy :D
Click to expand...

I'm stoked, buying all I can.

The minute Ag hit $30 beep beep beep back it up.

I consider 2012 the last year we will see Ag under $30.

IMO long term silver Bulls should be pulling the trigger.
 
goldpanner said:
I would buy again if it drops to $25 even though I have said 'no more!' as I have already gone over my target. :rolleyes:
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WHOA



You are alive :D
 
RetardedMonkey said:
Gino said:
Clich: Catch a falling knife
Explanation: 1. To buy a stock as it's price is going down, in hopes that it will go back up, only to have it continue to fall.
Click to expand...
By this definition, everyone who has bought silver since April has been catching the falling knife.
Click to expand...

Buying into a falling market with price weakness (lower highs) isn't a good idea imo, that's all. Back in June or July I had a thread trying to figure out when a return of market strength would be evident. I think we concluded we should look for prices holding above $34.60 to confidently feel we are on a march to higher highs. It's been up and down since then, but fell off a cliff in late September and hasn't really raisen above $34 since.

My point was, it isn't very logical to hope for continued weakness when you know the fundamentals are strong, but rather, try to establish where the return to strength will be evident . . . if one cares about being in a position of profit instead of a loss, that is.

However, with a belief in the fundamentals and some rudimentary technical analysis, it is logical to conclude that there have been a number of very strong rejections of spot approaching $26, signifying this as a strong support area (relatively safe buying) and that, further, if that level is breached we will be looking at the next level of support around $22. But that is not as important for someone sweating on a potential loss as the question "when will there be a return to strength and the bull burst forth from its corall?"

"buy right and sit tight" . . . another cliche often used.
 
MelbBrad said:
its going sub-$US20...
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It can't get past $26! But, OK, a few clarifying questions:

Who will take it there?
When will it happen?
Why will it happen?
How will they overcome investor strength?
Where will they make it happen (NY, London, Asia)?
 
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