Watch silver go under 10.00

[jim4silver]

Silver still falling; now at $15.93. I hope all of you that starting stacking in the 20s (or 30s) are continuing to buy more and thereby 'average down' your loss--should you need to sell. I'll stay on the sidelines and wait for $12, then continue to buy as it goes even lower.
Don,.......

Picked up a few BU/AU rolls of dimes today for less than what some stores sell "junk" silver. I will applaud your "wisdom" when and if silver hits $12. Still not there yet.

 

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[Mackaydon]

Silver at $15.37; I'm starting get ready to buy--at $12. For all the 'stackers', I hope you have something left for silver in the 12s and below.
Don........

 

[keith2004]

i'm waiting for $10.50....at $12 the faint of heart stackers wives will make them dump it all to cut their losses.....

 

[jim4silver]

It's funny to watch the PM bashers come out when prices fall. We're you geniuses warning people to NOT buy silver when it was $4, I'd bet not.

Anyone waiting to buy physical at $12 might have to settle for paper silver. We'll have to see.


Jim

 

[keith2004]

i'm waiting for $10.50....at $12 the faint of heart stackers wives will make them dump it all to cut their losses.....

i worded this wrong and i apologize,most stackers are NOT" faint of heart" but rather must have nerves of steel to hold tight while the market swings.however....if the wifey says sell......

 

[jim4silver]

i worded this wrong and i apologize,most stackers are NOT" faint of heart" but rather must have nerves of steel to hold tight while the market swings.however....if the wifey says sell......

What is this "wifey" thing that you speaketh of? LOL! I dispensed with the "wifey" plan years ago, but maybe having one does help keep a balance in one's investment plans so to speak.

Jim

 

[Mackaydon]

Conversely, I think it's funny to know that stackers continue to hold (or worse, continue to buy) versus selling all along, keeping those proceeds then buying back in when the price of silver settles and restarts its climb back. Jim, back in the day, I was also selling common silver cert. $1.00 bills and getting $1.50 in coin in return (when silver prices were going nuts, thanks to the Hunt Bros.); 50% profit per day. More recently, I bailed out of most of my silver in the low 40s and have been out of the buying mode since--now waiting for the $12 range and starting the appreciation process over again.
I hope both our investment strategies works.
Don.....

 

[jim4silver]

Conversely, I think it's funny to know that stackers continue to hold (or worse, continue to buy) versus selling all along, keeping those proceeds then buying back in when the price of silver settles and restarts its climb back. Jim, back in the day, I was also selling common silver cert. $1.00 bills and getting $1.50 in coin in return (when silver prices were going nuts, thanks to the Hunt Bros.); 50% profit per day. More recently, I bailed out of most of my silver in the low 40s and have been out of the buying mode since--now waiting for the $12 range and starting the appreciation process over again.
I hope both our investment strategies works.
Don.....

Don,

I can't argue with you success.

Anyway, my local stores just upped the price of ASE's by a dollar on the premium. Here is why:

http://finance.yahoo.com/news/u-mint-temporarily-sold-silver-182319457.html

Huge demand for physical (real) metal yet the price keeps dropping. Bizzarro-world it seems.


Jim

 

[Coldshuz]

Boy.., I must have a great wife (Actually, I know I do for 35+ yrs now). Went to lunch with her today.. and SHE had checked the price of silver and said, "I think we need to buy a bunch more silver". I told her let's wait just a bit longer.

 

[Mackaydon]

Jim,
Many 'pros' are on your side of the fence, including Michael DiGienzo, Phillps Baker, Richard Daughty, Roger Wiegard, Doug Dobbs, John Embry and David Morgan. I see the situation, admittedly, more naively. I put more weight on personal investment attitude than on industrial demand. Industrial demand is a known fact and the market takes that into consideration in advance. Personal investment attitude is a different animal, yet it also affects the price of silver. Disgruntled Americans have wanted 'change' for a long time. And with yesterday's political results, they got the change they wanted.And with that change, their attitude towards silver continues to be filled with less apprehension and anxiety.They have been selling off for months in anticipation of positive change and will continue to do so now that positive change is more probable than previous to yesterday's activity. Preface all the above with 'IMHO'.
Don......

 

[Jason in Enid]

More recently, I bailed out of most of my silver in the low 40s and have been out of the buying mode since--now waiting for the $12 range and starting the appreciation process over again.
I hope both our investment strategies works.
Don.....

You have a completely different purpose in buying silver. You are looking at it as an invest to return a profit to you in the (hopefully near) future. I am buying silver as a hedge for a complete economic collapse, and if that never comes about then it's a tax-free way to pass wealth on to my children.

 

[Mackaydon]

Jason,
I hope we both become winners; just taking different paths to the same goal.
Don......

 

[Peyton Manning]

well according to the commercial eric sprott says gold will hit 2000 by the end of the year

 

[Dman]

It's funny to watch the PM bashers come out when prices fall. We're you geniuses warning people to NOT buy silver when it was $4, I'd bet not.

Anyone waiting to buy physical at $12 might have to settle for paper silver. We'll have to see.


Jim

Jim
You also said you doubted anyone could buy physical silver when the priced dipped to $16. I am seeing people that bought silver at $35 to $40 dumping their silver and if the price keeps dropping you will see more panic selling. Just my opinion. I guess I have been lucky on my predictions so far. Here is one more. Ride the wave down until late Jan or Feb. Then jump in with both feet. Of course global events could change things, Like a huge natural disaster , terrorist attack or some big event. These are just my opinions and I could be all wrong and the price of silver may go sky high tomorrow.

 

[jim4silver]

Jim
You also said you doubted anyone could buy physical silver when the priced dipped to $16. I am seeing people that bought silver at $35 to $40 dumping their silver and if the price keeps dropping you will see more panic selling. Just my opinion. I guess I have been lucky on my predictions so far. Here is one more. Ride the wave down until late Jan or Feb. Then jump in with both feet. Of course global events could change things, Like a huge natural disaster , terrorist attack or some big event. These are just my opinions and I could be all wrong and the price of silver may go sky high tomorrow.

I did say that, but the farther the paper price drops the less likely it gets that silver will be available as we are definitely in the zone of below cost of production for many mines. People are starting to look at silver like a pink sheet stock, maybe because for all intents and purposes that is what the paper markets have become in both PM's and oil (lately- anyone really believe world physical oil supply/demand has changed that significantly in just a few months to justify such a drop?). But in reality silver is a metal that must be mined and it costs to mine. If fuel prices stay this low that will help the miners keep going but I don't think oil will stay at this price level for too long.

I still believe in the next 5 years max we will see a flight to quality in assets from those with wealth fleeing the stock market or other paper assets with counter party risk. I own my PM's as my 401K so I hopefully won't need to sell for 15 to 20 years. Anyone think silver will be worth less in 10 years based on industrial use projections alone? -- industrial use is now 50% of annual mine production and that figure keeps growing as new technological developments are created, which all use silver in small amounts (which don't generally get recovered).

Just my opinion.


Jim

 

[FreedomUIC]

I put the brakes on buying silver right now. I am seeing $12.00 dollars as the bottom, when it gets there I am in with
both feet, torso and arms.

 

[FreedomUIC]

Gold on the other hand is a different story. 1/10 and 1/4 are my target weights to buy and they are getting cheaper
each day.

 

[jim4silver]

Gold on the other hand is a different story. 1/10 and 1/4 are my target weights to buy and they are getting cheaper
each day.

Freedom,

Right now, gold is extremely expensive compared to silver. This is seen in the silver to gold ratio. I have attached a chart that shows the ranges of the ratio over the past 5 years or so. There is a low of around 32 or so and a high of, well now at 74. If you have silver when (and if) the ratio lowers again (which will happen if the metals rally again someday), you can sell your silver for gold and get much more for your money than you can get now. If you think silver will never go back up then disregard what I just said.

Unless you are buying semi rare gold that you can get now because the price is cheap I would get silver instead to sell for those eagles later once the prices start going back up and the ratio tightens to more normal levels. Remember buy low sell high. Most people like to buy what's going up (after it has already gone up a bunch from its lows) instead of buying when its cheaper.

Gold Silver Ratio Charts | Kitco

Just my opinion.

Jim

 

[FreedomUIC]

Thanks Jim,
I am just trying to be diversified in what I am stacking for retirement. I am way short on Gold and have quite a bit of Silver.
With silver dropping the way it has it give me a little concern. Gold can easily make up $30 - $40 on a good day but Silver
can only go up $1.00 on a great day. I just figured if I had alot of both then I can supplement my retirement for the rest
of my years and when I left this earthly place, my wife would be set for quite some time.

That was my thinking behind my madness is all.

 

[Rich in Central PA]

I predicted silver to drop to $16.00 when it was over $40.00 an ounce. I believe silver will bottom out between $8.00 and $9.00.

Dman..................really nice call on the silver drop prediction. With the recent .67 spike in silver ($16.33) on 11/14, , at this point, has your thoughts changed any from your $8.00 to $9.00 bottom? Thanks, Rich