Silver buying opportunity at 25? 20% discount? POLL

[slara512]

With todays drop in Gold and the euro caused rise in the US Dollar, would anyone agree or argue against the possibility that silver is on the way to seeing $25?

Silver Futures weekly

silver weeky 12-12.png (29.35 KiB) Viewed 1023 times

It would not be unreasonable for silver prices to fall back and test the break levels near 20, and only then turn around and go back up after confirming support.

What say ye?

[Beau]

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this should have been a poll.
everyone has a different opinion, and no one knows.
the whole stock market has been down all day.

GOOD LUCK Beau

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[slara512]

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this should have been a poll.

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ah, I see, Im new here, good point. didn't know I could do that.

[DirtyFingers]

All things considered, I thought silver hung pretty tough today.

Can't say the same for gold. Stopped in at my LCS today and there was no fractional gold to be
found. Just a few one ounce GAE and some graded old gold. He can't keep 999 or 90% silver
in stock. Flies out the door as fast as he gets it.

[texcollex]

If it does hit 25 (I voted it would), I sure hope I have some cash free to pick up a few rolls. Of course, me voting that it would hit 25 in the first half of 2012 ASSURES that it will do something totally different.

[slara512]

since we silver pretty much hit 50, 25 would be a natural retracement target before continuing higher. IF there are so many bulls that coin stores can't keep up with demand, that probably tells me silver/gold buyers are not fearful at all of falling metal prices, which is says as far as sentiment goes, that there are more people in the metals bus than out of the bus. where are all the contrarians?

[slara512]

its funny that right now its pretty much split between we will see 25 very soon and will will never see 25 again

[oober]

If you have an exit plan, don't worry about, just DCA with 50-75% of your weekly allocation and hold the rest back for a drop, but you may be paying more also.

[slara512]

If you have an exit plan, don't worry about, just DCA with 50-75% of your weekly allocation and hold the rest back for a drop, but you may be paying more also.

yes, I also like the idea of selling puts and calls around a core position. another way to create more cash to buy more.

thinking of selling puts on SLV if silver drops.

[justj2k78]

I've been in this silver game only since March. I've got a lot to learn, but this much I know for sure. No one knows where silver is going. Not me. Not you. Not a chart. Not a computer program. Nobody. So if you want silver, my advice is to buy it.

As for the poll, I can't vote in it. No option for "I don't know".

[RichardPenny43]

I think we could come close but not all the way down to $25. Either way, I'm still bullish and stacking!

[Market Harmony]

If we go to $25, I'll be buying. If we go to $50, I'll be buying. It's just a matter of ounces exchanged for FRN's to combat wealth degeneration. So, one way or the other, I guess it doesn't matter.

[Rodebaugh]

I've been in this silver game only since March. I've got a lot to learn, but this much I know for sure. No one knows where silver is going. Not me. Not you. Not a chart. Not a computer program. Nobody. So if you want silver, my advice is to buy it.

As for the poll, I can't vote in it. No option for "I don't know".

Well aren't we just a fence riding wet blanket.

[Rosco]

I've been in this silver game only since March. I've got a lot to learn, but this much I know for sure. No one knows where silver is going. Not me. Not you. Not a chart. Not a computer program. Nobody. So if you want silver, my advice is to buy it.

As for the poll, I can't vote in it. No option for "I don't know".

Well aren't we just a fence riding wet blanket.

You stack Slabs an some of us Stack Dimes different perspective

I doubt any Dime stacker goes around sticking fingers in other peoples mouth

[beauanderos]

I've been in this silver game only since March. I've got a lot to learn, but this much I know for sure. No one knows where silver is going. Not me. Not you. Not a chart. Not a computer program. Nobody. So if you want silver, my advice is to buy it.

As for the poll, I can't vote in it. No option for "I don't know".

Well aren't we just a fence riding wet blanket.

You stack Slabs an some of us Stack Dimes different perspective

I doubt any Dime stacker goes around sticking fingers in other peoples mouth

I heard that at Thanksgiving, the annual Rodebaugh blessing gives thanks that he chose dentistry over proctology.

[Lemon Thrower]

no offense to the OP, but i think you are looking at it wrong. i try to look at it in probabilities. say i'm nearly certain it will go to 50 - say 95% certain. there may be a 5% probability that it goes to $25. its foolish to come up with a guess and thehn convince yourself that is the only thing that can happen. i think in the near term there is more room to go down - at least until the situation in europe is resolved - and i mean down - like lehman or worse - but long term 50 will be left behind in the dust.

[68Camaro]

I'll just note that a relatively few weeks ago spot briefly hit $26, and all these people that are saying "I'm gonna back up the truck when it hits 25" stayed on the sidelines. 25, 26, what does it matter? Anyone trying to time this perfectly is in danger of completely missing the boat.

And I'll reiterate in a slightly different way that spot price doesn't mean an attainable real purchasing price for physical. In the most recent dip when spot touched into the 26s, the price one was practically paying for delivered bullion in the hand was in the low 30s.

These brief little spot dips don't amount to squat. Practically speaking I've not seen any attainable physical below 29 and change (that only momentarily, and with surcharges and fees on top of it) since very early in the year, almost a year ago.

[Sheikh_yer_Bu'Tay]

Let it drop! It would have to drop below $18 to begin to hurt me. My dollar cost average is way south of that at $11.70. Hahahaha!

[pmbug]

I think there is a very real possibility for paper silver (futures) to fall to 25 or so as longs flee the COMEX game in the wake of MF Global and in favor of settling in physical for the long term. I'm not sure that we ever see 25 again for physical silver. Should the futures/spot hit 25, I expect dealers of physical will still be charging $30+/ozt.

[slara512]

has anyone ever taken deilvery of a comex bar at 1000 oz or even 5000 oz?, we are saying there is a difference between the comex and the dealers.

Silver 1000 ox bars stacked

silver-1000oz-comex-bar-stack1.jpg (56.93 KiB) Viewed 716 times

[slara512]

days not done but heres a look at today numbers

Futures 12-14-11

futtures 12-14-11.png (93.7 KiB) Viewed 633 times

I think the drop is mostly Oil's fault, it was looking like it break out higher, but failed, bringing down the commodity space against the rising dollar. Oil makes up 40-60% of most commodity baskets in different forms of energy products.

[DirtyFingers]

It's all my fault. I added to my stack Monday and made spot do a header

Seriously, I'm glad I bought when I did - might be hard to find locally real soon.

[exbingoaddict]

I go with Yogi Berra's advice on this one, "If you find a fork in the road, take it."

[tractorman]

I go with Yogi Berra's advice on this one, "If you find a fork in the road, take it."

Yeah, especially if its hallmarked!!

[Chief]

Well, have we seen the bottom or will we still see $25? I'm sticking with that we will not see $25, but if I am wrong, I will buy "cheap" silver, if not I'll be happy.
Keep on stacking!