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With gold and silver droping, the time to buy is looking better and better.

Haha! I thought exactly the same.

I think we might see the final dip before the long bull run.

Girded my loins this morning (well, not literally) and bought some AGQ in my trading account (leveraged 2:1 silver fund). I realize I can't hold it in my hand and check the gleam of silver, but I amy as well try to capitalize on increasing my FRNs for future use, eh? Couldn't resist the little pullback. One year daily chart of silver continues to strengthen. Watch that wick burn slowly toward the TNT...

silverflake wrote:Girded my loins this morning (well, not literally) and bought some AGQ in my trading account (leveraged 2:1 silver fund). I realize I can't hold it in my hand and check the gleam of silver, but I amy as well try to capitalize on increasing my FRNs for future use, eh? Couldn't resist the little pullback. One year daily chart of silver continues to strengthen. Watch that wick burn slowly toward the TNT...

Ah... AGQ, my favorite. About 75% of my equities holdings. Up 168% last year. Number one ETF in 2010.

75% of your holdings in that one etf... Wow. That seems incredibly risky I hope you didn't buy too many shares during April and May of this year. Dollar cost averaging this year would change the YTD performance you spoke of... Also AGQ's YTD performance is actually >170%

~JobIII

I'm currently opening up my box of St Gaudens MS-60's that I bought when gold dipped to $1700 in August (personal checks take too damn long to clear). These are undoubtedly the most attractive/beautiful coins the US ever minted. Well worth the wait!

wernt we supposed to buy when it was high and sell when it was low?

If the fed eases more (apparently its looking like they might continue making up money), anything that you can get your hands on around spot is gonna be a nice investment.


http://www.reuters.com/article/2011/09/21/us-usa-fed-idUSTRE78J3HB20110921

Don't buy silver yet. I bought some last Saturday.....expect a HUGE drop in the next few days/weeks. Buy then.

chris6084 wrote:Don't buy silver yet. I bought some last Saturday.....expect a HUGE drop in the next few days/weeks. Buy then.

Why do you expect a drop?

I don't see why there would be a drop: PM will rise as the economy gets worse.

Not putting words into chris6084's mouth, but the chartists - who follow only the data and don't pay attention to fundamentals - think it has topped and is about to take a dive. Not saying it couldn't. But I don't see it in the fundamentals - yet. I think the opposite is just as likely to happen.

The problem with charting, in my view, is that much of the interpretation depends on the time scale that one views the data in, and viewing it in one scale can lead to one conclusion, and another scale a different conclusion, and all is obvious in hindsight, but in the here and now - not so much sometimes.

Dropped big overnight. This morning might be a good time to snag some deals, or wait to find the bottom

chris6084 wrote:Don't buy silver yet. I bought some last Saturday.....expect a HUGE drop in the next few days/weeks. Buy then.

words of wisdom. the charts look shaky.

68Camaro wrote:Not putting words into chris6084's mouth, but the chartists - who follow only the data and don't pay attention to fundamentals - think it has topped and is about to take a dive. Not saying it couldn't. But I don't see it in the fundamentals - yet. I think the opposite is just as likely to happen.

The problem with charting, in my view, is that much of the interpretation depends on the time scale that one views the data in, and viewing it in one scale can lead to one conclusion, and another scale a different conclusion, and all is obvious in hindsight, but in the here and now - not so much sometimes.

imo fundamentals are foundational, charts, tech analysis is the roadmap, because in a market, you have millions of opinions, meeting in the marketplace, and charts can show you, illuminate the invisible hand of those million opinions meeting. Can a smart op game a chart? Yeh buddy, but not for long...Long term? HIGHER, intermediate to short? imo, we go lower and band up there for a spell...thats a GOOD thing.

blackrabbit wrote:Dropped big overnight. This morning might be a good time to snag some deals, or wait to find the bottom

we might test 33 basis front month...might even spike down to 30. Say what you want about its value veracity, but the dollar traded huge to the upside yesterday, if it goes to 80, you might see $30 silver.

"but i bot Au at 42 the ounce!!!!!" so ####ing what? you aint on margin, its sitting in a safe with dessicants (hopefully) rest easy...you got food in the fridge and larder? you got monthly income? a secure household? We should only be so blessed it go to 30..0r 25....or EVEN 20!

forget the noise, just stay focused, and have fun. Sure the nation might be going to hell in a handbasket...are YOU?.....hopefully no, so lets just chill...and stack. They play their games, we play ours. We're smarter.....or as Michael Stpe so eloqently put it:

http://www.youtube.com/watch?v=Z0GFRcFm-aY

I doubt it will drop too much further as I bet that this current drop causes a spike in the purchasing of physical. If it went down much more the disconnect between spot and physical prices would become very large. I just might pick up some 2012 Canadian Cougars on this dip.

Is there anyone else in this thread that's excited about this drop in Ag prices this am? Come on guys. We all know that the window for loading up is shrinking so LOAD UP. The last 3 months I have been selling the next month puts on SLV @34 - been raking in the premiums but was actually hoping to have the stuff put to me. Now we are getting really close. Meanwhile, buy some physical. Don't worry about short term drops. Technicals still look good. On a one year daily chart we are approaching 200 day moving average. Keep long term in sight. Check out the absolute collapse of the Swiss Franc vs. the Dollar over the last month or two. Interesting times.
Keep the Faith friends.

Wow this morning its crazy out there! Find the bottom!

I am now a buyer.

Rodebaugh wrote:I am now a buyer.

go fer it, but this thing could get a wee bit out of hand to the downside...which is great in the final analysis. but i do understand the shotgun approach to physical purchases, i just aint as rich as you bud...lol

Stock market futures and all commodities (including G&S) are getting hammered right now. I do NOT recommend buying any gold or silver stocks or ETFs at this time. These things will drop sharply like they did in 2008.

Physical is going on sale right now and it may go much lower. I am cost averaging in on these dips. I've been buying a little here and there, but I am getting ready to load the truck if gold breaks below $1700.

I suspect many G&S bullion dealers will be very busy today and sell out of many items, especially ASEs.

Cu Penny Hoarder wrote:I suspect many G&S bullion dealers will be very busy today and sell out of many items, especially ASEs.

That's If they sell. The last big dip the finanically sound dealers didn't sell unless they knew they could replenish at a lower level, or were of the type that were buying futures to hedge and protect themselves.

I have a fair bit of silver that I want to move soon in 6 or so days........I am not selling one gram of it at these prices.

As for gold......I am a buyer and seller at this price.....Sub 1500......I will be chasing the pre 33 Au with much more effort

neilgin1 wrote:

chris6084 wrote:Don't buy silver yet. I bought some last Saturday.....expect a HUGE drop in the next few days/weeks. Buy then.

words of wisdom. the charts look shaky.

I was being somewhat sarcastic. When I buy it goes down when I sell it goes up. Looks like history repeated itself.

What a drop today! 6.5%!

How did you guys predict that?