Silver Stackers current sentiment about silver

[Midnight Man]

Are you a long term or short term holder of physical? Long term

Before this take down, did you have strong convictions for holding silver? Yes

Are your convictions strong still to hold? Yes, even more so

Have you questioned your decision to hold silver during this take down? (Even a little?) No, I do not count precious metal assets in terms of fiat, they are an absolute number of ounces

Have you sold or added any due to the take down in price? Have continued to add both metals (Gold & Silver) as opportunities (in terms of available fiat) became available

 

[mightymatt]

Are you a long term or short term holder of physical? Long term, if the shit don't hit the fan!

Before this take down, did you have strong convictions for holding silver? Yes

Are your convictions strong still to hold? Yes

Have you questioned your decision to hold silver during this take down? (Even a little?) No, not even a little.

Have you sold or added any due to the take down in price? Continued to add. Will always add as long as the spare fiat exsists.

P.S.: Can people just answer the questions asked. Its as simple as that.

 

[mmissinglink]

I have posted many links to articles which forecast a downturn in gold and silver by people who's financial creds are at least as worthy (and often more so I would argue) as any of those people who write articles claiming that tomorrow gold and silver will shoot past the moon....

1. Give some examples of those who forecast a medium to long term bear market for PMs going forward.
2. Give some examples of those who forecast a medium to long term bull market for PMs going forward.
Now according to you those in group 1 are "more worthy" forecasters than those in group 2 ...
Just to put your assumption into perspective, please remind us all how many of those in group 1 forecast the GFC before it actually went down?
And ditto for group 2 ...

What I have stated is absolutely true (the reason I challenge the permabulls)

Well that's not a given by any means. :lol:

I guess you haven't learned basic fundamentals. The reason why some of those who don't have a vested interest in pushing metals have more cred is because they don't have a vested interest in pushing metals and they study and understand the dynamics of the markets.

 

[hennypenny]

Are you a long term or short term holder of physical? I'm not holding any currently but I could have been long term if that's what the market dictated.

Before this take down, did you have strong convictions for holding silver? Yes.

Are your convictions strong still to hold? No, I sold it all. eg 9 May 2011 http://forums.silverstackers.com/message-124394.html#p124394

Have you questioned your decision to hold silver during this take down? (Even a little?) Anyone who's held since the top without questioning their bad decision is a fool.

Have you sold or added any due to the take down in price? Did I mention I sold it all? Might yet buy back in though (prices in AUD) 19 July 2012 http://forums.silverstackers.com/message-378314.html#p378314

 

[Sargeant Argent]

As a hplder of precipus metals mmissinglink you should know fundamentals have very little to do with the market. If fundamentals actually drove the market we wouldnt see the dow and s&p at a near all time high and pms at a 3-5 year low given how fundamentally screwed the majority of the biggest economies in the world are atm.

 

[sammysilver]

I am buying silver. Also looking to see what I can sell that I no longer value in order to buy more silver. Should it drop further, then I can buy even more silver. As I'm over 60, now might be a good time to cash in some super and buy silver. Expecting a windfall from overseas in the next few weeks, I'll use it to buy silver.

I believe silver is the most undervalued PM at the moment. My worst case scenario is that gold drops to $720 and silver drops to $18. I would then swap my silver for gold at a GSR of 40. Totally hypothetical of course but at a current GSR of about 64 silver could not drop at a larger rate than gold at these current levels.

Adding to the wisdom of not putting all your eggs in one basket, if gold drops to $720, silver will easily be below $9, not at $18. If you want proof, look at 2008 charts. Someone who is 60 should not be gambling by putting a significant portion of their wealth in silver. I myself have too much in silver, but it is now hedged. And due to selective buying of mostly semi numismatic coins, I should be able to average a nice profit on the sales. The GSR is probably going to go to around 80 or 100 to 1. And silver will and always has gone up or down more than gold. If you really believe the things you wrote in that last paragraph, you do not understand silver. And what you don't understand, you shouldn't own.

I don't think silver could ever fall below $9 in this current environment. and if it should, and I haven't sold down, then I would have a shitload of $9 silver. The other calculation to consider is that here in God's country, if silver were to fall to $9 it would only be because the USD is strong. The corollary is that the AUD would also fall thus taking silver spot to $15+, thus silver acts as a hedge against the USD.

Finally, as to the 2008 charts, that happened, it's not now. Now is a totally different proposition. We can only learn from the past, not relive it.

First chance to sit down in a couple of days. In a comfy chair in the cloisters of Government House, overlooking Sydney Harbour, by the Opera House, Harbour Bridge and Botanic Gardens. Saw a powerful owl in the white fig leading into Government House.

In 2008 the USD to AUD was .65c. GSR was 50, silver was $18. It cost AUD900 or 50 oz silver to buy an ounce of gold. Today exchange rate is .92c, GSR is 64, silver is $22 and it costs AUD $1,360 or 64 oz silver to buy an ounce of gold. If gold were to drop to $720, the AUD could drop to .65c, silver at best would drop to USD $14.40 giving a GSR OF 50. All current ounces of silver will buy 128% the amount of gold, in addition, it would return AUD 1,100 x 1.28 or AUD $1,400. Everything stays much the same in Australia should the $720 scenario come about.

 

[BamaGuy]

I won't be buying any if it goes to $9. Ill have bought all I'm buying starting at $14 and finishing around $12. If it were to go that low. If it goes below $12 I don't plan to dca down. I have a set amount and I try to stay disciplined with my investments.

 

[mmissinglink]

I'm hoping the $14 price comes in before September of this year.

If it doesn't, I'm okay with that.

.

 

[capt.sparrow]

I have posted many links to articles which forecast a downturn in gold and silver by people who's financial creds are at least as worthy (and often more so I would argue) as any of those people who write articles claiming that tomorrow gold and silver will shoot past the moon....

1. Give some examples of those who forecast a medium to long term bear market for PMs going forward.
2. Give some examples of those who forecast a medium to long term bull market for PMs going forward.
Now according to you those in group 1 are "more worthy" forecasters than those in group 2 ...
Just to put your assumption into perspective, please remind us all how many of those in group 1 forecast the GFC before it actually went down?
And ditto for group 2 ...

What I have stated is absolutely true (the reason I challenge the permabulls)

Well that's not a given by any means. :lol:

I guess you haven't learned basic fundamentals. The reason why some of those who don't have a vested interest in pushing metals have more cred is because they don't have a vested interest in pushing metals and they study and understand the dynamics of the markets.

Mate - you really are clueless aren't you?!! :lol:

I'd suggest you educate yourself a lot more - starting with the questions i posed you - instead of talking cr@p here