Wow! Silver hits $40 + per ounce! Buy, Hold, or Sell?

[UncleVinnys]

Silver closed above $40 yesterday.

Gee, I bought some when it was $7, then some more when it was $17.
I NEVER believed it would get this high.

Questions:

Why are you buying?
Buy, sell, or hold it now?

My theory is that many people think it's the End Times, and that
trading silver is an easy and convenient form of barter for when
the monetary system collapses.
What do you think?

 

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[trdhrdr007]

I think if it's the end times & the monetary system collapses there will be rioting & blood in the streets. Those people that have food & the guns required to protect it won't have any interest in trading for a shiny hunk of metal.

 

[Vodka1000]

I think if you are not prepared silver and gold will be the only way to get whathever you need.
If you find someone who is willing to do that.

 

[Bobbypins]

The only way to curb the high price of gold and silver is to strengthen the USD. Given our record deficit, loose monetary policy, high unemployment... and absolutely NO plan on how to reduce our nations debt... I see these commodities contuining to climb until a firm plan is put in place. Maybe that will take a whole new President, maybe not.

Once gold and silver comes off it's peak and collapses beyond current support levels, you could see a huge selling frenzy. But a 10% corrective move is normal and healthy in any trading channel. Do I expect these metals to collapse? Not until the referenced items above come back to "reasonable" levels.

I'm buying both gold and silver until I see the chart patterns telling me I should sell.... but even then... if we don't have a rock solid plan in place to pay off some debt, I'll hold the majority of what I have.

Doomsday scenario? Gold and Silver as "money"? Not hardly. You would have better luck trading a can of green beans for something you need. If it really came down to a total world collapse in fiat currency, we would probably see a nuke or two go off before then. It's at that point that you need to worry about the complete doomsday scenario. If that's what we're referring to.... you need to have just 3 things.

Beans.... Bullets.... and Band-Aids

 

[dogcaught]

I'm not all that excited about my silver value going through the roof. I view it more as watching the dollar's agonizing death. A sign of stagflation, not quite hyperinflation. When is the best time to sell? When you figure out what will resurrect and strengthen the almighty dollar. Right now the greenback is in a full sprint to the slaughterhouse. Do you really need the money now? Sell now. You're ahead. Can you afford to sit back and hold tight? Then hold tight. Commodities will continue to run strong as long as we are deeply in debt and continue to create money out of thin air to make our minimum payments. If you really need the rapidly depreciating dollars, then trade for those. JJ

 

[texan connection]

I think you should sell now vinny

 

[LukeTHr]

hang onto it , you'll need it when the paper stuff is worthless