The Gold and Silver Thread

[KissMy]

I am still short since Monday & will stay short for one more day or when silver hits $32. then I am going neutral until a week before QEII is slated to end. I know Bernanke is not going to take his foot off the gas in June. Commodities will spring back to life when QEII does not end.

 

[JackDan]

I'm actually glad to see this correction. I'm buying another bag or two if it slides to 25 .

seriously, I bought a couple hundred ounces around 11$ so I was shocked to see it top @48$, but it is a long term investment. Even if it drops to 25$ I will buy more, because in 2 years it will be back up to 50$.

 

[LordBrownTrout]

I'm actually glad to see this correction. I'm buying another bag or two if it slides to 25 .

seriously, I bought a couple hundred ounces around 11$ so I was shocked to see it top @48$, but it is a long term investment. Even if it drops to 25$ I will buy more, because in 2 years it will be back up to 50$.

We'll be sniffing 60 by the end of the year.

 

[liebuster]

Damn!! I was thinking about swapping out my silver for gold a couple of weeks ago. It would have been a good move cause I could swap back for silver when it bottomed out and end up with even more.

 

[KissMy]

It looks like the jobs numbers this morning turned commodities around.

 

[Mad Scientist]

I want to apologize to everybody for the recent downturn in Gold and Silver. I just bought my first oz. of Gold and about 22 oz.'s of Silver about 2 weeks ago so naturally, they both hit the skids.

It's the story of my life man!

Ok you need to redeem yourself. At what price drop would you consider selling? I need to know when to buy.

Haha! Well, I figger even if gold and silver lost half its value I'd still only be down about $1400. I've lost more than that in Vegas in one day!

I figger silver will bottom around 30, then I'll buy some more. As far as gold goes, I'm a little gun shy about it right now.

 

[Toro]

It looks like the jobs numbers this morning turned commodities around.

Risk on!

I will short any straight up bounce. I may buy after a period of consolidation.

The best scenario is if we consolidate and build a base for the next six months then head higher.

 

[B. Kidd]

How about that Soros.
Knew when to sell his silver.

 

[KissMy]

I want to apologize to everybody for the recent downturn in Gold and Silver. I just bought my first oz. of Gold and about 22 oz.'s of Silver about 2 weeks ago so naturally, they both hit the skids.

It's the story of my life man!

You still have not made a bad investment. Since you own physical coins you haven't lost that much. Street value for those are still $40. How would you like to own a stock that went to zero with zero chance of coming back? With physical metals that is impossible. If you owned the Dow 30 stocks since the "Great Depression" every one of them has gone to zero except for GE that got a bailout. They just keep on switching them out to make the number climb. Have you heard about Greece? If you owned Greece Drachma (their currency) right now you just lost half your buying power. If Greece is kicked off the Euro they are toast. Given time, every paper has gone to zero.

Gold & silver haven't even fallen to their 100 day moving average. Think of investing like a boat when everyone is freaking-out & running to one side of the boat, you want to be the only one running to the other side of the boat. We just had a situation where to many people bailed on the US dollar to fast. Now the crowd ran back into US dollars. Guess where you should now start running. It is hard to gather the courage to run against the crowd, but that is where the money is.

 

[Zander]

The following message is sponsored by GOLDLINE.

I want to apologize to everybody for the recent downturn in Gold and Silver. I just bought my first oz. of Gold and about 22 oz.'s of Silver about 2 weeks ago so naturally, they both hit the skids.

It's the story of my life man!

You still have not made a bad investment. Since you own physical coins you haven't lost that much. Street value for those are still $40. How would you like to own a stock that went to zero with zero chance of coming back? With physical metals that is impossible. If you owned the Dow 30 stocks since the "Great Depression" every one of them has gone to zero except for GE that got a bailout. They just keep on switching them out to make the number climb. Have you heard about Greece? If you owned Greece Drachma (their currency) right now you just lost half your buying power. If Greece is kicked off the Euro they are toast. Given time, every paper has gone to zero.

Gold & silver haven't even fallen to their 100 day moving average. Think of investing like a boat when everyone is freaking-out & running to one side of the boat, you want to be the only one running to the other side of the boat. We just had a situation where to many people bailed on the US dollar to fast. Now the crowd ran back into US dollars. Guess where you should now start running. It is hard to gather the courage to run against the crowd, but that is where the money is.

 

[Mad Scientist]

The following message is sponsored by GOLDLINE.

Actually, I bought from APMEX.com

You still have not made a bad investment. Since you own physical coins you haven't lost that much. Street value for those are still $40. How would you like to own a stock that went to zero with zero chance of coming back? With physical metals that is impossible. If you owned the Dow 30 stocks since the "Great Depression" every one of them has gone to zero except for GE that got a bailout. They just keep on switching them out to make the number climb. Have you heard about Greece? If you owned Greece Drachma (their currency) right now you just lost half your buying power. If Greece is kicked off the Euro they are toast. Given time, every paper has gone to zero.

Exactly, that's why I bought Gold and Silver. Not because I think it's gonna' go ballistic (although I hope it does), but the US Government, and the Federal Reserve, aren't exactly acting in a manner that makes me wanna' buy their stock (the dollar). And as you pointed out, I just don't wanna' lose all my money when that "stock" goes to zero.

 

[Mad Scientist]

How about that Soros.
Knew when to sell his silver.

I read that he only sold his paper holdings, not his physical silver.

 

[Toro]

I want to apologize to everybody for the recent downturn in Gold and Silver. I just bought my first oz. of Gold and about 22 oz.'s of Silver about 2 weeks ago so naturally, they both hit the skids.

It's the story of my life man!

You still have not made a bad investment. Since you own physical coins you haven't lost that much. Street value for those are still $40. How would you like to own a stock that went to zero with zero chance of coming back? With physical metals that is impossible. If you owned the Dow 30 stocks since the "Great Depression" every one of them has gone to zero except for GE that got a bailout. They just keep on switching them out to make the number climb. Have you heard about Greece? If you owned Greece Drachma (their currency) right now you just lost half your buying power. If Greece is kicked off the Euro they are toast. Given time, every paper has gone to zero.

Gold & silver haven't even fallen to their 100 day moving average. Think of investing like a boat when everyone is freaking-out & running to one side of the boat, you want to be the only one running to the other side of the boat. We just had a situation where to many people bailed on the US dollar to fast. Now the crowd ran back into US dollars. Guess where you should now start running. It is hard to gather the courage to run against the crowd, but that is where the money is.

Silver sliced through it's 100 day moving average, I believe. I think it bounced off the 125 day MA but I'm not at my BBerg so I can't confirm.

Though I do think the bull market in PMs has more to go, I think it will end very badly. I think gold and silver will fall 70%-90% when the bubble collapses. Now that might be in 2016 after gold has hit $4000, I don't know. But people will lose a lot of money.

I don't like to look over generations when thinking about individual' time horizon. The bulk of an individual's investment time horizon occurs over 20-30 years. Gold fell from $850 to $250 in 18 years. People putting the bulk of their savings into gold during that time, expecting to retire in 20 years saw tremendous wealth destruction.

 

[Toro]

I bought June SLV 40 calls today with a very small slice of capital to play this dead cat bounce in silver. I would be surprised if I owned this position next week.

 

[KissMy]

I want to apologize to everybody for the recent downturn in Gold and Silver. I just bought my first oz. of Gold and about 22 oz.'s of Silver about 2 weeks ago so naturally, they both hit the skids.

It's the story of my life man!

You still have not made a bad investment. Since you own physical coins you haven't lost that much. Street value for those are still $40. How would you like to own a stock that went to zero with zero chance of coming back? With physical metals that is impossible. If you owned the Dow 30 stocks since the "Great Depression" every one of them has gone to zero except for GE that got a bailout. They just keep on switching them out to make the number climb. Have you heard about Greece? If you owned Greece Drachma (their currency) right now you just lost half your buying power. If Greece is kicked off the Euro they are toast. Given time, every paper has gone to zero.

Gold & silver haven't even fallen to their 100 day moving average. Think of investing like a boat when everyone is freaking-out & running to one side of the boat, you want to be the only one running to the other side of the boat. We just had a situation where to many people bailed on the US dollar to fast. Now the crowd ran back into US dollars. Guess where you should now start running. It is hard to gather the courage to run against the crowd, but that is where the money is.

Silver sliced through it's 100 day moving average, I believe. I think it bounced off the 125 day MA but I'm not at my BBerg so I can't confirm.

Though I do think the bull market in PMs has more to go, I think it will end very badly. I think gold and silver will fall 70%-90% when the bubble collapses. Now that might be in 2016 after gold has hit $4000, I don't know. But people will lose a lot of money.

I don't like to look over generations when thinking about individual' time horizon. The bulk of an individual's investment time horizon occurs over 20-30 years. Gold fell from $850 to $250 in 18 years. People putting the bulk of their savings into gold during that time, expecting to retire in 20 years saw tremendous wealth destruction.

I checked with Yahoo on SLV, Monex on physical Silver Spot, & physical Silver Coins. They all show that it never even hit the 100 day moving average so this bull market has not been broken. It was a needed correction & now it is off to the races again.

Also Europe is in turmoil. Germany is has just had a "Grass Roots" "TEA Party" form. Greece is fucked & it is about to get really ugly over there.

 

[Mr Liberty]

You still have not made a bad investment. Since you own physical coins you haven't lost that much. Street value for those are still $40. How would you like to own a stock that went to zero with zero chance of coming back? With physical metals that is impossible. If you owned the Dow 30 stocks since the "Great Depression" every one of them has gone to zero except for GE that got a bailout. They just keep on switching them out to make the number climb. Have you heard about Greece? If you owned Greece Drachma (their currency) right now you just lost half your buying power. If Greece is kicked off the Euro they are toast. Given time, every paper has gone to zero.

Gold & silver haven't even fallen to their 100 day moving average. Think of investing like a boat when everyone is freaking-out & running to one side of the boat, you want to be the only one running to the other side of the boat. We just had a situation where to many people bailed on the US dollar to fast. Now the crowd ran back into US dollars. Guess where you should now start running. It is hard to gather the courage to run against the crowd, but that is where the money is.

Silver sliced through it's 100 day moving average, I believe. I think it bounced off the 125 day MA but I'm not at my BBerg so I can't confirm.

Though I do think the bull market in PMs has more to go, I think it will end very badly. I think gold and silver will fall 70%-90% when the bubble collapses. Now that might be in 2016 after gold has hit $4000, I don't know. But people will lose a lot of money.

I don't like to look over generations when thinking about individual' time horizon. The bulk of an individual's investment time horizon occurs over 20-30 years. Gold fell from $850 to $250 in 18 years. People putting the bulk of their savings into gold during that time, expecting to retire in 20 years saw tremendous wealth destruction.

I checked with Yahoo on SLV, Monex on physical Silver Spot, & physical Silver Coins. They all show that it never even hit the 100 day moving average so this bull market has not been broken. It was a needed correction & now it is off to the races again.

Also Europe is in turmoil. Germany is has just had a "Grass Roots" "TEA Party" form. Greece is fucked & it is about to get really ugly over there.

The only EFT that did briefly cross the 100 MA was PSLV.
This could be a dead cat bounce or just a simple correction and the trend will continue. I'm bullish so I hoping my buy stop will trigger tomorrow or Thursday. If I'm wrong, the buy stop of $20.10 on ZSL is in place.
I couldn't be happier with the returns over the last 10 weeks.

 

[Toro]

The only EFT that did briefly cross the 100 MA was PSLV.
This could be a dead cat bounce or just a simple correction and the trend will continue. I'm bullish so I hoping my buy stop will trigger tomorrow or Thursday. If I'm wrong, the buy stop of $20.10 on ZSL is in place.
I couldn't be happier with the returns over the last 10 weeks.

It's been a fantastic year for silver.

But if it bounces rapidly, then I will reload on the short side, only in bigger size.

 

[Mr Liberty]

The only EFT that did briefly cross the 100 MA was PSLV.
This could be a dead cat bounce or just a simple correction and the trend will continue. I'm bullish so I hoping my buy stop will trigger tomorrow or Thursday. If I'm wrong, the buy stop of $20.10 on ZSL is in place.
I couldn't be happier with the returns over the last 10 weeks.

It's been a fantastic year for silver.

But if it bounces rapidly, then I will reload on the short side, only in bigger size.

That's a smart move. Are you bullish or bearish?

 

[Toro]

The only EFT that did briefly cross the 100 MA was PSLV.
This could be a dead cat bounce or just a simple correction and the trend will continue. I'm bullish so I hoping my buy stop will trigger tomorrow or Thursday. If I'm wrong, the buy stop of $20.10 on ZSL is in place.
I couldn't be happier with the returns over the last 10 weeks.

It's been a fantastic year for silver.

But if it bounces rapidly, then I will reload on the short side, only in bigger size.

That's a smart move. Are you bullish or bearish?

Depends on your time frame. I don't think gold has seen a top, and if gold has not seen a top, I doubt silver has as well. The problem is that the action in silver was manic, behavior often associated with tops.

My guess - and I emphasize the word "guess" - is that we have a bounce, silver goes into the $40s then collapses somewhere into the $20s sometime by July. It then builds a base in the fall and starts moving up in the winter and spring of next year.

It appears that the monetary authorities, after contributing mightily to the tech and housing bubbles, have learned nothing and have created the conditions - along with the federal government - to perpetuate asset bubbles. If I am correct, then what is the next asset bubble? Probably commodities. And if commodities are going into a bubble, bubbles usually don't end when the yield curve is very steep, as it is now. Bubbles end when curves are flat. (They are flat in India.) So if commodities are going into a bubble, silver will almost certainly hit a new high.

But I could be completely wrong. And if I am, I will change my position in no time flat and probably not tell anyone.

 

[Toro]

We may be seeing the beginning of the end of the dead cat bounce. Silver has reversed pretty hard overnight after hitting $39.50 in Asia, coming within a whisker of the $40 range I was expecting. It has since reversed $2 but is trying to stabilize. This may be an opportunity to short.