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  #1  
Old 05-05-2010, 12:55 AM
ddd11 ddd11 is offline
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Default silver tanking overnight

i couldn't break even now on a sale so i'm in the roach motel and just have to wait for hyperinflation. and maybe a nuke or 2. Don't eat lunch before the end of the day, unless you wanna leave it the face of the person sitting behind you on the ride as it heads down. what i'd give to puke in t b****r's face.....

good news is for people not holding, your about to get some low prices, of course these are usually the people who will then wait till eagles drop to face value, which can't happen since mining costs, even though they're for copper, with silver being the accidental byproduct, equal a few bucks more for cost.....

Of course the g/s ratio is widening, not impossible for it to return to 1991 levels of 100 to one.

people may wake up with oil at 200$ per barrel and an apple for $10, but to silver's potential is a touch abstract. If we are waiting for "lunchbox joe" to awaken to the glory of silver we're in a pickle, are we not.

Old Joe, still movin kinda slow at the junction, can still buy a tenth or 20th ounce of gold just as easy as silver.....

Geez, I aint askin for much, I say lord take me downtown, I'm just lookin for some gold....trading 1000 oz silver for 15 or 16 gold coins.......sad
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  #2  
Old 05-05-2010, 01:06 AM
Stewie Stewie is offline
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It's an opportunity ddd1.

If it hits 17 buy some.

If it tanks down buy some more.

Put it away and forget about it man.
We're probably going to be a while with this.
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  #3  
Old 05-05-2010, 01:07 AM
07Silverado 07Silverado is offline
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Don't encourage him Stewie. Some folk just ain't cut out for silver.
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  #4  
Old 05-05-2010, 01:10 AM
iammci iammci is offline
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DDD, I've watched a number of your posts, and they come across relatively pessimistic about PM's, well at least silver.

I like to think of it a little differently. Whether silver goes up or down, even down to $10 per ounce, it doesn't phase me. Why? Because I'm diversified in gold, which seems to be outpacing my returns on silver. Why am I in PM's? To diversify out of the dollar.

I read into the theories, ideas, and forecasts of many across the internet. I put many hours of research into my reading, that I've found what works best for me. Cash, Gold, and Silver. Cash is what it is, known purchasing power, whether it moves up or down against real itmes. Gold, is wealth preservation to me, which is doing quite well overall. Silver, is my speculation buy at this time, as it could be held down for a very long time, or it could spring forward tremendously like many spout off "Silver is the best investment opportunity of a lifetime". Well, I don't have time to wait for that, so I diversify in all three. I understand that I'm prone to lose in one or two categories, but not in all three at once, imo. Because silver is so cheap in comparison to gold, there's no reason not to own some silver if you own ANY gold.

Gerald Celente mentioned one important statement to me which has stuck. It's not about profiting in this economy, it's about maintaining what you currently have. I'm following this path now, and while it's resulting in a profiting situation, that's not the intention I started out with.

I will continue to purchase silver for speculation and hopeful purchases. I will continue to hold some cash, and I will continue to buy gold as it allows, according to my ratio I feel is comfortable to my needs. I feel this is the safest method to avoid the situations when JP Morgan strikes silver down. That doesn't matter so long as you have an end goal, and diversification which helps absorb the manipulation.

That's only just my opinion and position. I don't claim to know exactly what I'm doing, but what I'm doing is working out well. It makes sense to me given the research I've done, and that's what matters.
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  #5  
Old 05-05-2010, 01:17 AM
Stewie Stewie is offline
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Quote:
Originally Posted by iammci View Post
DDD, I've watched a number of your posts, and they come across relatively pessimistic about PM's, well at least silver.

I like to think of it a little differently. Whether silver goes up or down, even down to $10 per ounce, it doesn't phase me. Why? Because I'm diversified in gold, which seems to be outpacing my returns on silver. Why am I in PM's? To diversify out of the dollar.

I read into the theories, ideas, and forecasts of many across the internet. I put many hours of research into my reading, that I've found what works best for me. Cash, Gold, and Silver. Cash is what it is, known purchasing power, whether it moves up or down against real itmes. Gold, is wealth preservation to me, which is doing quite well overall. Silver, is my speculation buy at this time, as it could be held down for a very long time, or it could spring forward tremendously like many spout off "Silver is the best investment opportunity of a lifetime". Well, I don't have time to wait for that, so I diversify in all three. I understand that I'm prone to lose in one or two categories, but not in all three at once, imo. Because silver is so cheap in comparison to gold, there's no reason not to own some silver if you own ANY gold.

Gerald Celente mentioned one important statement to me which has stuck. It's not about profiting in this economy, it's about maintaining what you currently have. I'm following this path now, and while it's resulting in a profiting situation, that's not the intention I started out with.

I will continue to purchase silver for speculation and hopeful purchases. I will continue to hold some cash, and I will continue to buy gold as it allows, according to my ratio I feel is comfortable to my needs. I feel this is the safest method to avoid the situations when JP Morgan strikes silver down. That doesn't matter so long as you have an end goal, and diversification which helps absorb the manipulation.

That's only just my opinion and position. I don't claim to know exactly what I'm doing, but what I'm doing is working out well. It makes sense to me given the research I've done, and that's what matters.
Well put.
I do the same.
Both gold and silver............yes and FRN's
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  #6  
Old 05-05-2010, 01:20 AM
ddd11 ddd11 is offline
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Quote:
Originally Posted by iammci View Post
DDD, I've watched a number of your posts, and they come across relatively pessimistic about PM's, well at least silver.

I like to think of it a little differently. Whether silver goes up or down, even down to $10 per ounce, it doesn't phase me. Why? Because I'm diversified in gold, which seems to be outpacing my returns on silver. Why am I in PM's? To diversify out of the dollar.

I read into the theories, ideas, and forecasts of many across the internet. I put many hours of research into my reading, that I've found what works best for me. Cash, Gold, and Silver. Cash is what it is, known purchasing power, whether it moves up or down against real itmes. Gold, is wealth preservation to me, which is doing quite well overall. Silver, is my speculation buy at this time, as it could be held down for a very long time, or it could spring forward tremendously like many spout off "Silver is the best investment opportunity of a lifetime". Well, I don't have time to wait for that, so I diversify in all three. I understand that I'm prone to lose in one or two categories, but not in all three at once, imo. Because silver is so cheap in comparison to gold, there's no reason not to own some silver if you own ANY gold.

Gerald Celente mentioned one important statement to me which has stuck. It's not about profiting in this economy, it's about maintaining what you currently have. I'm following this path now, and while it's resulting in a profiting situation, that's not the intention I started out with.

I will continue to purchase silver for speculation and hopeful purchases. I will continue to hold some cash, and I will continue to buy gold as it allows, according to my ratio I feel is comfortable to my needs. I feel this is the safest method to avoid the situations when JP Morgan strikes silver down. That doesn't matter so long as you have an end goal, and diversification which helps absorb the manipulation.

That's only just my opinion and position. I don't claim to know exactly what I'm doing, but what I'm doing is working out well. It makes sense to me given the research I've done, and that's what matters.
yeah makes sense, i have faith in the dollar eventually weakening. I'm looking for something that can appreciate without this sickening volatility, and all the hype about what it may do. This week I'll see about switching silver for gold and just a little for the wild shot....
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  #7  
Old 05-05-2010, 01:27 AM
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Metal Hoarder Metal Hoarder is offline
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Default Whew - recovering finally from sale last week

Last week I dumped $30K worth of SIVR just before it took off. I wanted to ride the JPM smackdown. It made me think that Murphy was in the house when it zoomed up as if on cue the moment that I dumped my holdings.

Now, with the tankage, I'm actually able to buy it back cheaper than I sold it for a week ago.

I really wish that my crystal ball worked even a little. Failing that, I'll take luck, and I finally caught some this last day or two.
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"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson] signs this bill, the invisible government of the monetary power will be legalized.... the worst legislative crime of the ages is perpetrated by this banking and currency bill."
-- Charles A. Lindbergh, Sr. , 1913

"Markets can remain irrational a lot longer than you and I can remain solvent." - John Maynard Keynes
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  #8  
Old 05-05-2010, 01:43 AM
iammci iammci is offline
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Quote:
Originally Posted by Nerowithafiddle View Post
So let me get this straight....you KNOW it's going lower, but won't sell now because you can't break even on your original purchase?...
Unless there's some doubt it will decline in value. Everyone has the right to complain, but to make a move which means financial commitment, right or wrong, is different.

What I've come to find out is that up is down, and left is right. Things are not standard operating procedure. We can see that clearly from the DOW, where I've even watched a video of a CEO who had admitted on air, there's no justification for his company's stock to increase as it is, unless propped up by some entity unbeknownst to them. I understand (why would a CEO do that), but he did say that. I just don't recall the link. Things are not what they seem.


I regret not buying a monster box at $12 per ounce. Give me another chance at it and I'll be a happy camper. As for my reason why, see me reason above. Your talking pennies in the grand scheme of things, especially if your invested in any respectable amount of FRN's, or Gold to offset the opportunity.

Last edited by Cajus : 05-05-2010 at 01:22 PM. Reason: Quoted infraction
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  #9  
Old 05-05-2010, 01:47 AM
iammci iammci is offline
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One other thing I want to mention:

What was that post, 18.7% inflation on staple items within the last year? Someone bitches about silver on a downward cycle?

Whether your FRN's are FRN's paying more at the grocery store, or in PM's which may counter inflation, which do you feel more comfortable in? I'll take my chances in silver. Food prices can only go up, which means my FRN's can only go down. At least with silver, I have a chance, gold more-so as far as stability.
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  #10  
Old 05-05-2010, 09:32 AM
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Metal Hoarder Metal Hoarder is offline
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Default Still just noise....

All of this recent volatility of silver is still just the price thrashing around in the noise band that it's been stuck in since September. A lot of noise and fury, driving us all crazy, for no net movement.

As I write this it's trading at $17.19. Check that out on the chart below, which indicates yesterday's closing price. $17.19 is still right in the noise band.

If you look to the left in the chart, you will also see that it was stuck in this same noise band for several months in 2008, until finally breaking down in August of 2008 for the remainder of the year.

__________________
"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson] signs this bill, the invisible government of the monetary power will be legalized.... the worst legislative crime of the ages is perpetrated by this banking and currency bill."
-- Charles A. Lindbergh, Sr. , 1913

"Markets can remain irrational a lot longer than you and I can remain solvent." - John Maynard Keynes

Last edited by Metal Hoarder : 05-05-2010 at 10:08 AM.
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