Silver is crazy

[JobIII]

Never been a really a big silver buyer, but with all the hype about all things pointing north, I put together two large orders this week. one bid at 30x and the other at 31x (this is when junk ag was riding just >33x face).

Had that seller been quicker to respond. The deal would have definitely gone through and I would have basically lost 2-4x the face value essentially overnight. More so now that silver dropped again today. I hope most people here buying into silver didn't dive head over heels when junk silver was at 33x like i almost did.

I'm wondering if this is the start of a major sell off or end to the silver bubble...? Any thoughts comments, or personal marketing and commodity faux pas to share?

[Mossy]

First of all, you don't lose money until you sell, something people abandoning their homes forget.

Check the 5 year silver chart at Kitco. Silver dropped to about half over the summer of 2008, and came back up.

The basic economic situation remains unchanged; the number of dollars has increased several times over, unemployment remains high, inflation remains high, the long term debts represented by Social Security, Medicare, various retirement accounts, all remain without any way to pay them. The problems have not been solved, and will create big problems later.

[Lemon Thrower]

junius, i think when you sold some to me last time it started its rise to $50. you need to sell some more to get the price up. you are good/bad luck!

[beauanderos]

You were itching to sell at 14X face last year. Be patient.

[glass]

I started buying at 30-34
Somebody please stop this

[68Camaro]

There is a reason the phase just before the bottom is called "capitulation".

[strikeaxe]

I'm still holding PM's for the long run. FRN's are worthless paper the sham will continue as long as people are buying into the not in my backyard syndrome. Reminds me of a child sticking their fingers in their ears while annoucing loudly " I'M NOT LISTENING" But facts are facts our stuff is costing more each and every day, the lemmings will run clamoring over the cliff when it all breaks. Hopefully it that never happens in my life time then I have a nice collection of shiny stuff for my kids.

Freedom is not Free.