Silver - $27 going to Zero! Call your boss..beg for job back

[neilgin1]

Guys?...….gotta tell ya....the welcome back ya;ll gave me?...….I cant thank you all enough, it makes feel happy, and that's not too small a thing in these days of utter craziness,,,,,huh?,,,,,,,,i mean HOLY COW, huh?......right this second frn's are....okay, but when is the day, we say , 'no way, i'm giving you silver for paper'?'

as far as the global craziness, war, financial goofiness...I found this ancient prophesy......called the War Scroll....found near the Dead Sea: https://en.wikipedia.org/wiki/War_of_the_Sons_of_Light_Against_the_Sons_of_Darkness

[henrysmedford]

Any Ideas why it’s up so much today?

[68Camaro]

I attribute it simply to a delayed reaction (and for silver, over reaction, which is typical) in the drop in the USD over the past week or three, which has been about 1% in the past week and 2% in the past 3 weeks. Over the past 24 hours Gold is up about 1% at this writing, Silver about 2%, but they are dropping off their highs.

[pennypicker]

but they are dropping off their highs.

As expected

[Cu Penny Hoarder]

The why/how of short term price movements are really insignificant.

When silver is $100-150/ounce, you'll look back on this thread and laugh... and probably beat yourself up for not buying more when it was so incredibly cheap.

[68Camaro]

It's never a bad thing to seek to understand cause and effect.

[Recyclersteve]

It's never a bad thing to seek to understand cause and effect.

I totally agree with this and that it is good (in general) just to be plain curious.

[Cu Penny Hoarder]

It's never a bad thing to seek to understand cause and effect.

I agree, but in this crazy manipulated market, seeking to understand cause and effect could drive you bonkers. The full truth will probably never be discovered. Too many rabbit holes... deep ones.

I continue to take advantage of these bargain basement prices. At this point I am metals rich, cash poor... somewhere in between 80% and 90%.

[Recyclersteve]

. At this point I am metals rich, cash poor... somewhere in between 80% and 90%.

Are you saying that 80-90% of your investable net worth is in metals? Unless you have a net worth that is something like $50 million or more, that is an awful lot to have tied up in any one type of investment. You may be rolling the dice and might consider speaking with an investment professional.

[Cu Penny Hoarder]

. At this point I am metals rich, cash poor... somewhere in between 80% and 90%.

Are you saying that 80-90% of your investable net worth is in metals? Unless you have a net worth that is something like $50 million or more, that is an awful lot to have tied up in any one type of investment. You may be rolling the dice and might consider speaking with an investment professional.

It's not a dice roll. Fiat paper is losing more and more with time... why would I want to hold a lot of that? People have been brainwashed to think in "dollar" terms... they're being stealthily robbed as time goes by.

What's coming is going to be worse than the great depression. It's inevitable.

Investment professional?

When PMs go parabolic even those with a lot of PMs are going to wish they bought more when it was cheap (right now).

Oh, we can't forget about food, water, guns and ammo... even more important than PMs. Ammo will be worth more than gold when the SHTF.

I don't worry about this, nor do I run around spewing doom porn about SHTF. Being fully prepared brings peace of mind.

[InfleXion]

I used to be metals rich (relatively) and cash poor when I was accumulating my core position, but it's more even now having been on the sidelines for a while minus the occaisonal trip to the coin shop. Not to mention prices have dropped since my DCA is closer to $25. I would like to have more metal, but each position gives me a sense of security for different reasons. Metals (and G&A) help me sleep at night not worrying about what the future holds. Spendable cash helps me sleep at night knowing I can weather a storm without having to sell my metals. I can choose my exit strategy. Cash will probably be king before it goes kaput, and I aim to take advantage of firesale prices before people at large realize the need for sound money. Right now I am doing home repairs, but would consider backing the truck up again for the right dip. In 2008 it went from $21 down to $8 which was my first entry point. I don't think silver could get that low again, but if there is a market crash it might get close, and if so not long before a supply crunch.

[everything]

With central banks stacking gold the most in 50 years, all stating it's a hedge against inflation we should be worried, and credit expansion seems to be sort of .. parabolic. It did take gold two years to go from 11-19 hundred during the GFC so we must be patient. It's just as likely these interest rates lead us into a perma-bull market where PM's languish for years, and are in general, not real cheap anyway. So much heady demand, industrial demand, coin/bar demand, feels like we are in a gold rush anyway. Silver's just caught up in the act.

[Cu Penny Hoarder]

An honest "investment professional" here. Andy Tanner explains just how bogus 401k, IRA, and mutual funds are. Wall Street is skimming/stealing your money with fees, expenses and commissions. The money (your savings) is totally out of your control.

Not new information to me, but it may be new info for you.

Please watch this...
https://www.youtube.com/watch?v=x-SqlZI58_k#action=share

[Cu Penny Hoarder]

Dumping this morning

Come to papa!

[Rodebaugh]

I picked up some paper silver.

[Cu Penny Hoarder]

I picked up some paper silver.

SI contracts? I hope you did not use margin.

Dumping again this morning. $16.67 as I type this.

Right now I'm looking in rear view mirror and putting the truck in reverse... almost ready to hit the gas.

[Cu Penny Hoarder]

Dumping this morning

Come to papa!

Hit $16.66 mid-day, then popped back up after more negative trade talk news.

Maybe Monday I'll get my $16.50.

[bankmining]

1E7D9016-0BBB-432D-AA2D-C0B0A255996E.gif (13.97 KiB) Viewed 1271 times

[Cu Penny Hoarder]

1E7D9016-0BBB-432D-AA2D-C0B0A255996E.gif

Bad tick. I don't know why Kitco charts have so much cred. That move was not on any of the silver charts I use.

One day a move like that is going to be legit.

[Rodebaugh]

Some SLV leap options. Cash deal. $1200 exposure.

I picked up some paper silver.

SI contracts? I hope you did not use margin.

Dumping again this morning. $16.67 as I type this.

Right now I'm looking in rear view mirror and putting the truck in reverse... almost ready to hit the gas.

[Cu Penny Hoarder]

Some SLV leap options. Cash deal. $1200 exposure.

Good luck. Expiration date?

[Rodebaugh]

Some SLV leap options. Cash deal. $1200 exposure.

Good luck. Expiration date?

Thanks. Jan 15 2021.

[Recyclersteve]

Some SLV leap options. Cash deal. $1200 exposure.

Good luck. Expiration date?

Thanks. Jan 15 2021.

What is the strike price you bought?

[Recyclersteve]

1E7D9016-0BBB-432D-AA2D-C0B0A255996E.gif

This just show how easy it is to manipulate the price of silver during non-market hours. I've seen too many spikes and crashes over the years (conveniently when the market is closed, of course) to even get excited about this anymore.

[Recyclersteve]

Also- I like how the title of this thread was changed to: "Silver @ $16 and volatile" (as opposed to "up" or "down")