$50 per oz silver mental trigger

[GA-Silver]

Do you guys think that the $50 per oz silver level will trigger a drive-up/drive-down on the price of Ag? What I am trying to say is will reaching the all time high of Hunt Bros. silver price of $50 an oz mentally trigger the public to do another repeat of 1980?

[999Ni]

50 bux in 1980 is not 50 bux today....but you're right, I think at that level there will be a massive sell-off which will drive down the price a little, but it will only be temporary. Economic & World climate is much different now.

[GA-Silver]

That is what I told my silverbug friend.....be ready to buy when the $50 mark hits and the lemmings sell off their Ag and run the price down (for a short time).

[anarchir]

It will probably drop a bit, but personally I dont think it will drop more than a few bucks. Maybe to 45. Of course that means that now is the time to buy. For silver, buy now, and buy as much as you can.

[blackrabbit]

People will spend over 50 bucks an ounce right now on e-bay for a lot of 1 oz. rounds. I agree that there will be a minor selloff when the news cycle runs with it and people melt their old treasure. I used to tell myself that I would sell most when it got this expensive but I think this bull still has momentum at least for another year and a half. I would not be surprised if it hit 100 by the end of 2012.

[beauanderos]

People will spend over 50 bucks an ounce right now on e-bay for a lot of 1 oz. rounds. I agree that there will be a minor selloff when the news cycle runs with it and people melt their old treasure. I used to tell myself that I would sell most when it got this expensive but I think this bull still has momentum at least for another year and a half. I would not be surprised if it hit 100 by the end of 2012.

You don't have an ass on your hare if you don't bump that to "by the end of 2011"... but I like your thinking.

[Steel Talon]

That is what I told my silverbug friend.....be ready to buy when the $50 mark hits and the lemmings sell off their Ag and run the price down (for a short time).

How low do you think it will go?

[GA-Silver]

I'm $35-40 an oz..........

[68Camaro]

That is what I told my silverbug friend.....be ready to buy when the $50 mark hits and the lemmings sell off their Ag and run the price down (for a short time).

How low do you think it will go?

Massive price changes are possible. -20%. Maybe even -40%. But I believe any large changes will be very short-lived. Some might be so brief that it will be impossible for the bulk of us in physical silver to actually take practical advantage of them. I'll take advantage if I can, but I won't be upset if I can't.

[Lemon Thrower]

technical analysis would say to expect resistance at the hunt bros high.

Fib would say expect a retracement.

the news would say people are buying the dips.

am keeping an open mind.

[Morsecode]

Heard the same with gold at $1000, the Dow at 10,000, copper at $1.55. The dips are short lived self fulfilling prophecies of bears and short sellers. A broken clock is right twice a day...just not for very long.

[Diggin4copper]

The correction has to happen in our economy... Our elected officials have to take drastic unpopular steps to save both our currency and our country. There are groups waiting to take control of our futures by "Saving" us when things get worse. Dont mean to get off topic, but stacking should include foodstuffs and neccesities that will become scarce. Metals hoarders will become very unpopular and will be targeted, so keep a low profile...but keep stacking..

[IdahoCopper]

The correction has to happen in our economy... Our elected officials have to take drastic unpopular steps to save both our currency and our country. There are groups waiting to take control of our futures by "Saving" us when things get worse. Dont mean to get off topic, but stacking should include foodstuffs and neccesities that will become scarce. Metals hoarders will become very unpopular and will be targeted, so keep a low profile...but keep stacking..

Getting TWO bunks of toilet paper on the next Costco run .........

[franklin]

"People will spend over 50 bucks an ounce right now on e-bay for a lot of 1 oz. rounds."

My buddy who had a table at a Texas Metroplex gun show a week or 2 ago said he saw run-of-the-mill Peace and Morgans going for $48 each.

[shinnosuke]

Every time there is a seller, there is a buyer. I know that is only stating the obvious. However, it just hit me that for $50 to be a mental trigger for someone to sell and for that sale to be completed there must be a buyer. So the mental trigger concept works both ways. The buyer at $50 may be doing it regretfully (thinking he should have purchased at $35 or $45), but he is still buying.

[GA-Silver]

I'm $35-40 an oz..........

At least I called this one right!

[beauanderos]

The line has been drawn in the sand by da boyz. It may now take as many as three tries to break $50, over a few month period, as $1000 gold did over longer duration. The next time silver hits $48 or $49 will be a good time to take some profits and attempt to buy back in lower, for those who missed the current opportunity. I can see this scenario playing out a few times during the summer months.

[hejira11]

IMHO it's all a Psychological operation by Da Boyz. 50 is just a number. I am hearing 140.00 is the inflation adjusted price. Plus anyone that bought at 50 in the 80's is NOT waiting to cash in. BUT as long as it can be exploited as a sticking point, they will use it to full effect.

I believe it is just a number.

[beauanderos]

IMHO it's all a Psychological operation by Da Boyz. 50 is just a number. I am hearing 140.00 is the inflation adjusted price. Plus anyone that bought at 50 in the 80's is NOT waiting to cash in. BUT as long as it can be exploited as a sticking point, they will use to to full effect.

I believe it is just a number.

You are correct. It IS just a number, but it is one that is useful to Da Boyz because it has widespread public awareness. If ever the media shifts to representing the fact that the inflation-adjusted number is much higher, and they state that repeatedly without disingenuously proclaiming "an all time high" for both gold and silver, then you can be assured sentiment has shifted, and we will be back on board the precious metals train which will then have departed the station, destination safe haven as protection (and for profit) against hyperinflation.

[Lemon Thrower]

technical analysis would say to expect resistance at the hunt bros high.

Fib would say expect a retracement.

the news would say people are buying the dips.

am keeping an open mind.

this was a solid prediction that i will take credit for now.