Silver under $24 AU again. Is stacking starting to SUCK ?

silversearcher

silversearcher

Active Member
Silver Stacker
With silver under $24 AU again for many it may seem just more suckiness or a great buying opportunity. Being a person who is neither a admin, dealer, flipper, site owner or connected within the industry any form whatsoever I have zero conflict of interest. Nor do I put all my eggs in the bullion stacking basket. This makes me emotionally detached from precious metals even though I have some, and plan to sell sometime in the future.

To put it bluntly, I am not the most favourite forum member. And it would be also fair to say I'm not the admins favourite pet either, and they could kick my sorry butt out anytime if they wanted to. But in all fairness, I was a tad harsh at times due the emotional relationship I had with precious metals, and they were pretty fair in not banning me and gave me final a warning. However, I say what I feel and you get a fair opinion of the state the matter whether those agree or not.

In a recent thread I posted yesterday, I predicted the momentum of silver was moving in a downward motion. And having read a few recent posts sentiment for silver is at a all time low for some. Will the trend reverse and bounce back up overnight by another $1 ? Who really knows ! There could be very strong chance of blood in the streets with precious metals. It will be great buying time for those who are cashed up. I will be sizing things up very closely and picking and choosing very specific precious metals that suits my stacking / investing needs. So yes, I'm holding back. This is not the type of news the industry likes to hear as they are in the game to sell, but I'm in the game not to lose money for myself and my family. At the moment it's a very bad deal. And while bearish, and in my opinion more bearishness to continue, there will be plenty of time to be bullish. So for me its a great time to stack cash, plan my summer vegetable garden and stockpile more wood for next winter. I'm expecting silver to go down more. :)
 
silversearcher said:
With silver under $24 AU again for many it may seem just more suckiness or a great buying opportunity. Being a person who is neither a admin, dealer, flipper, site owner or connected within the industry any form whatsoever I have zero conflict of interest. Nor do I put all my eggs in the bullion stacking basket. This makes me emotionally detached from precious metals even though I have some, and plan to sell sometime in the future.

To put it bluntly, I am not the most favourite forum member. And it would be also fair to say I'm not the admins favourite pet either, and they could kick my sorry butt out anytime if they wanted to. But in all fairness, I was a tad harsh at times due the emotional relationship I had with precious metals, and they were pretty fair in not banning me and gave me final a warning. However, I say what I feel and you get a fair opinion of the state the matter whether those agree or not.

In a recent thread I posted yesterday, I predicted the momentum of silver was moving in a downward motion. And having read a few recent posts sentiment for silver is at a all time low for some. Will the trend reverse and bounce back up overnight by another $1 ? Who really knows ! There could be very strong chance of blood in the streets with precious metals. It will be great buying time for those who are cashed up. I will be sizing things up very closely and picking and choosing very specific precious metals that suits my stacking / investing needs. So yes, I'm holding back. This is not the type of news the industry likes to hear as they are in the game to sell, but I'm in the game not to lose money for myself and my family. At the moment it's a very bad deal. And while bearish, and in my opinion more bearishness to continue, there will be plenty of time to be bullish. So for me its a great time to stack cash, plan my summer vegetable garden and stockpile more wood for next winter. I'm expecting silver to go down more. :)
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I like to read all points of view on silver. So I like your comments. I feel the same about future price of silver. So last time I bought silver Lunar Rossters that will not fall much later in my opinion. I plan to buy more common bullion later this year. Thanksgiving is always a good season to buy (if silver will not be in free fall that time). It would be good to stack cash. But I feel nervious doing it this time of the year when Lunars and Pandas are released (I mean 4th quater of the year) :)
 
Cheer up it didn't go down to US$5, could go up to US$30.

No body knows when it will go up or down, but from you have wrote, you seem to have diversified investment portfolio.
 
Another PM stacking heresy thread! :o

The world is economically rooted and this could be the last opportunity to grab PM at these artificially low prices before they skyrocket. Do not jump off the boat just before it sails.

I'll keep stacking thanks!
 
Skyrocket said:
Another PM stacking heresy thread! :o

The world is economically rooted and this could be the last opportunity to grab PM at these artificially low prices before they skyrocket. Do not jump off the boat just before it sails.

I'll keep stacking thanks!
Click to expand...

Not a heresy thread Skyrocket, a reality thread....I'm cashing up.
 
Ipv6Ready said:
Cheer up it didn't go down to US$5, could go up to US$30.

No body knows when it will go up or down, but from you have wrote, you seem to have diversified investment portfolio.
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It doesn't bother me. I have have several fingers in different pots. I sometimes wonder about those who think it's a quick get rich scheme as there are so many pumpers out there.
 
silversearcher said:
Skyrocket said:
Another PM stacking heresy thread! :o

The world is economically rooted and this could be the last opportunity to grab PM at these artificially low prices before they skyrocket. Do not jump off the boat just before it sails.

I'll keep stacking thanks!
Click to expand...

Not a heresy thread Skyrocket, a reality thread....I'm cashing up.
Click to expand...


Locked!

See if you missed the boat.
 
Wait for Friday night bounce . :) Silver has risen on Friday night after a midweek smackdown!

Regards Errol 43
 
Just curious skyrocket... what will you do when (and if) silver is $1000 an ounce and everyone is saying it's going to go down. Of course it might not but say the great second economic depression is at a end and people are feeling confident again.

What I'f dropped to $900 and the future economic news is good.
How about when it reaches $600 and the news is even better
Few days later the biggest richest copper mine is discovered that also contains more silver than ten biggest primary silver mines.

Will you just watch go back down to status quo $10 to $20?

I am just wondering what your goal was, wealth or just having a large silver collection?

End of the day different people have different goals, mine is to maximise my wealth, be it a little PM or other investment.

:)
 
Ipv6Ready said:
Just curious skyrocket... what will you do when (and if) silver is $1000 an ounce and everyone is saying it's going to go down. Of course it might not but say the great second economic depression is at a end and people are feeling confident again.

What I'f dropped to $900 and the future economic news is good.
How about when it reaches $600 and the news is even better
Few days later the biggest richest copper mine is discovered that also contains more silver than ten biggest primary silver mines.

Will you just watch go back down to status quo $10 to $20?

I am just wondering what your goal was, wealth or just having a large silver collection?

End of the day different people have different goals, mine is to maximise my wealth, be it a little PM or other investment.

:)
Click to expand...


Sell my stack and mining stocks and buy another property or two.

That is not going to happen because my trusty crystal ball said there will be a shortage of precious metals in near future.

My goal is to also maximize my wealth and I see precious metals and mining stocks as that vehicle because of current world environment. That's why I started stacking two years ago. Make money off the next GFC coming soon which I expect to be far worse then the last.
 
Finally a buying opportunity for gold!

Personally I'm gonna get my (tiny) cash balance in my unallocated account and convert it back to gold :)

Playin' the market!
 
HoldMeTender said:
Finally a buying opportunity for gold!

Personally I'm gonna get my (tiny) cash balance in my unallocated account and convert it back to gold :)

Playin' the market!
Click to expand...

It seems yes, we can start to buy some Silver or Gold this week.

Based on this chart, Silver is almost hitting the bottom:

QaiQF6U.png

Source:https://www.tradingview.com/chart/XAGUSD/
 
Not sure if converting to gold is a sound ploy at this time since GSR's heading the wrong way.

Wouldn't be surprised if there's more free fall coming for silver via XAUUSD and DXY

Next data point is US election - could well see a bounce up off that regardless of whether the clown or the crook gets in.

Buying opportunity - sure, that's definitely the seasonal indication through to the first week of November. Mind you the rate hike's looking good for December, still will likely only be 25 basis points but what does everyone think, that's the question, I mean once gold closed slightly under 1300 the sell was on ; won't that also happen at cents under 1250 ?
 
RichardAL said:
Not sure if converting to gold is a sound ploy at this time since GSR's heading the wrong way.

Wouldn't be surprised if there's more free fall coming for silver via XAUUSD and DXY

Next data point is US election - could well see a bounce up off that regardless of whether the clown or the crook gets in.

Buying opportunity - sure, that's definitely the seasonal indication through to the first week of November. Mind you the rate hike's looking good for December, still will likely only be 25 basis points but what does everyone think, that's the question, I mean once gold closed slightly under 1300 the sell was on ; won't that also happen at cents under 1250 ?
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Yes, that does make sense Richard, therefore, we can prepare to buy if it is slipped under USD $1250 next month. :D
 
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