BOTTOM!!

[Copper Member]

I've been selling lots of 90% at my shop during this dip. Everyone trying to add to their stack.

[uthminsta]

hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh...
(sigh of relief... but I'm not getting my hopes up too much just yet)
There's nothing like seeing silver fall down an endless staircase for over 2 months. For those waiting to buy it was such a welcome sight. For those whose wives are telling them they have already bought too much lately, it's torture.
Last April I thought for sure we were done with the $30s range forever. But man, I've bought so much more in the 12 months after that late-April 2011 tumble. A blessing, to be sure. I am glad I was wrong about that.
But for some reason, this tumble has/had me more worried. It makes a lot of people question if they really KNEW what they thought they knew. And to be honest, I bet it makes some others just get SO FED UP with PM's and what they thought they had, and that it isn't doing what they thought it would do, that they give up on it altogether. Even though they know it's REAL MONEY. Even though they know it's a SAFE HAVEN. Even though they know it's UNDERVALUED... But I think that's just it. It's undervalued, but I didn't think it would STAY SO UNDERVALUED for so long. That's exactly it. It's crazy. How much longer do we have to wait to see it really go where it should?

[Rodebaugh]

I've been selling lots of 90% at my shop during this dip. Everyone trying to add to their stack.

Good to hear honest frontline reports on physical trading.

Thanks

[blackrabbit]

I wish I had more cash to burn, I have not been able to buy this dip and saw a few really great deals out there, and a couple quickly snatched up right here in the buy it now section.

[beauanderos]

I think everyone is too quick to call this as a bottom. I'd be happy if they're right, but seeing this from the perspective of TPTB playing mind games on people... I can see them painting this as a dead cat bounce on the way to lower levels. I'm still sitting on cash, there will be plenty of opportunities to employ it later. But my situation is different from others who have just started stacking. I have enough silver already, so worrying about timing every pullback is not a game I play as far as physical goes.

[uthminsta]

seeing this from the perspective of TPTB playing mind games on people...

That's what I was talking about. It is endlessly frustrating!

[beauanderos]

I don't think they're done yet. They may have filled a lot of their short positions on this pullback, but you can be sure that if silver climbs back into the low thirties... they'll be at it again. I honestly don't know what a eurozone collapse would do to PM's... but THEY want you to think it will be a repeat of 2008, and they'll do everything in their power to make that come true. I'm afraid we're looking at $22, even $19, at some point... as it seems as no one can hold them accountable. Am I predicting those levels? No, and I hope to high heavens it doesn't drop like that, but instead heads back up as if a repeat of early 2011. But hope is all it is, and that is easily extinguished as we all witnessed these last two weeks. This market is not based on fundamentals, it's based on how much money the bullion banksters without fathers think they can make at various levels, by taking positions that optimize their earnings whichever way they steer the markets. When I said we're too quick to credit this as a rebound, I meant that many have become SO dispirited that even the smallest glimmer of an uptrend represents (possibly unfounded) such potential that they're already calling a bottom, or feeling like they missed out on the best opportunity to buy in "at low levels." Just sayin... they ain't done yet.

[barrytrot]

I've said it before and I'll say it again.

We will never be below $25 again.

I've never wavered from this, unlike Ray just now

[beauanderos]

I've said it before and I'll say it again.

We will never be below $25 again.

I've never wavered from this, unlike Ray just now

Glad to hear that you're privy to the inner thoughts, motivations, and strategies of the bullion bank cartel. Silver will never drop below $25 again... because Barry says so.

[uthminsta]

I've said it before and I'll say it again. We will never be below $25 again. I've never wavered from this, unlike Ray just now

Please explain.

[barrytrot]

I've said it before and I'll say it again.

We will never be below $25 again.

I've never wavered from this, unlike Ray just now

Glad to hear that you're privy to the inner thoughts, motivations, and strategies of the bullion bank cartel. Silver will never drop below $25 again... because Barry says so.

I'm only privy because you posted stating you anticipated it would hit $19. I don't know your inner thoughts, but I do know that you stated today, that you thought it would hit $19.


I'm not saying I'm infallible, I'm just saying that I've been saying for almost 2 years the same thing, that $25 was impossible. And I've put my money DIRECTLY where my mouth is on that, and thus far quite happily so!

[barrytrot]

I've said it before and I'll say it again. We will never be below $25 again. I've never wavered from this, unlike Ray just now

Please explain.

It won't go under $25.

That's the explanation. It isn't "Revelation", but I am quite confident in it and have personally used it as FACT in my personal investments for the last 2 years.

[barrytrot]

I don't think they're done yet. They may have filled a lot of their short positions on this pullback, but you can be sure that if silver climbs back into the low thirties... they'll be at it again. I honestly don't know what a eurozone collapse would do to PM's... but THEY want you to think it will be a repeat of 2008, and they'll do everything in their power to make that come true. I'm afraid we're looking at $22, even $19, at some point... as it seems as no one can hold them accountable. Am I predicting those levels? No, and I hope to high heavens it doesn't drop like that, but instead heads back up as if a repeat of early 2011. But hope is all it is, and that is easily extinguished as we all witnessed these last two weeks. This market is not based on fundamentals, it's based on how much money the bullion banksters without fathers think they can make at various levels, by taking positions that optimize their earnings whichever way they steer the markets. When I said we're too quick to credit this as a rebound, I meant that many have become SO dispirited that even the smallest glimmer of an uptrend represents (possibly unfounded) such potential that they're already calling a bottom, or feeling like they missed out on the best opportunity to buy in "at low levels." Just sayin... they ain't done yet.

I bolded the part where Ray anticipates $19.

[beauanderos]

I don't think they're done yet. They may have filled a lot of their short positions on this pullback, but you can be sure that if silver climbs back into the low thirties... they'll be at it again. I honestly don't know what a eurozone collapse would do to PM's... but THEY want you to think it will be a repeat of 2008, and they'll do everything in their power to make that come true. I'm afraid we're looking at $22, even $19, at some point... as it seems as no one can hold them accountable. Am I predicting those levels? No, and I hope to high heavens it doesn't drop like that, but instead heads back up as if a repeat of early 2011. But hope is all it is, and that is easily extinguished as we all witnessed these last two weeks. This market is not based on fundamentals, it's based on how much money the bullion banksters without fathers think they can make at various levels, by taking positions that optimize their earnings whichever way they steer the markets. When I said we're too quick to credit this as a rebound, I meant that many have become SO dispirited that even the smallest glimmer of an uptrend represents (possibly unfounded) such potential that they're already calling a bottom, or feeling like they missed out on the best opportunity to buy in "at low levels." Just sayin... they ain't done yet.

I bolded the part where Ray anticipates $19.

You forgot to highlight the following sentence. "Am I predicting those levels? No." In a manipulated market, anything can happen. If the banksters were out of the picture, I feel confident that we'd be over $100 an ounce by now. But things aren't as we "wish them" to be. Having personally put my money where my mouth is as well, and having experienced (what I hope is only temporary) loss of close to a million, I know that anything is possible. Reading my comments in full, without taking them out of context, you will find my meaning clear. The banksters can, and will, steer the PM markets wherever they want.

[barrytrot]

Ray,

I read your comments. My interpretation of them was apparently incorrect. The WRITER is always the one that knows the interpretation, so I recant my statement.

And I ask that you accept my apology for misinterpreting your words.


I apologize for misinterpreting you, Ray. Sincerely.

[beauanderos]

Apology accepted And upon reading my text again... something leaps out at me that I unintentionally wrote, but becomes more clear to ME on the second reading.

I am AFRAID of the market dropping to $22 or even $19. I have held fast to my triple-leveraged position in USLV throughout the downtrend... and that magnifies the losses that everyone else is experiencing. To answer your question in a different thread... yes, any losses in one's hoard represent merely a "contraction," hopefully temporary. But when you play with dynamite, as I do with my high risk paper position in USLV, then ... when the fuse burns short, you can become quite nervous about your entire position becoming obliterated, and that temporary loss becoming permanent. Oh well, I was a fireman, I know when you play with fire you can get burned. Just hoping I can outlast their games on this one and come out smelling like a rose.

[madman326]

i think we need a steel cage match to determine if silver will go below $25. a silver 50 cent piece to get in. maybe an ounce or more for ringside seats, and rodebaugh can melt it all down to produce commemerative cage match coins. $25 and an arrow up for heads and an arrow down for tails. then nate can sell them at the coppercave! i think i can promote this!!!! don king look out!

[beauanderos]

This comment by Chris Martenson probably states better what I was trying to convey...

I wish I could analyze the (derivatives) situation better than the rest of the crowd that either screams catastrophe looms or coos that everything is safe, but I cannot. The situation is too opaque, too convoluted, and too complex to tease apart. I simply don't know what the true nature of the risk really is -- and the truth is, nobody really does. Instead, what I can offer is the idea that instead of reducing (let alone eliminating) risk, all that derivatives have done is mask risk. This means that whatever losses are resident in a system with four decades of debt-fueled mal-investment and overconsumption are still there just, waiting to be realized.

-Chris Martenson

i.e.... anything can happen, and nothing would surprise me

[68Camaro]

To keep in mind, all you rutting bulls with predictions - this is all temporary. It's an OPPORTUNITY (for physical). If playing with fire, it will be painful - but even that is temporary (unless you're on margin, in which case, shame on you).

I do (dare I say it?) predict we've hit a local bottom. However, this is not to say it can't dip again immediately. Certainly not to say it can't dip again later. And I do believe there will be at least one more MAJOR dip during "the" crisis to come, but in my view that one counts for little, as I believe that will be when paper and physical separate for good (until such time as the markets reform), and I don't want to be waiting for that instance to collect physical for at that time, unless you have lottery-level luck, you won't be able to time it well enough to exercise the buy and collect your physical before the price rises or it becomes unavailable.

[beauanderos]

I want to believe that the optimists will be correct... and I'm keeping my fingers crossed that you are. On the other hand, I'm not hurting anyone by keeping some powder dry. If we head straight up to $100 from here and never look back... I won't be cursing my luck that I didn't buy that last thousand ounces, I'll just be happy that the existing hoard has gone up in value.

And I do believe that Rich is correct... when the events unwind (whatever black swans are in the flock) that impels silver and gold to their true long-awaited valuations... for those who waited to buy it may be too late to source physical silver at ANY price.

[Copper Catcher]

It is hard to be patience and not buy now, but my gut and all that I'm reading is telling me to wait. There is nothing logical about the current price of both gold and silver with the world economic situation in the shape it's in.

“The two most powerful warriors are patience and time” ~ Leo Nikolaevich Tolstoy

[Engineer]

It is hard to be patience and not buy now, but my gut and all that I'm reading is telling me to wait. There is nothing logical about the current price of both gold and silver with the world economic situation in the shape it's in.

“The two most powerful warriors are patience and time” ~ Leo Nikolaevich Tolstoy

+1

Time will tell...

[shinnosuke]

The argument can be made that the lower prices of late were caused by a strengthening of the US dollar. That strength could, in turn, be tracked back to a weakening of the euro due to the market realizing how bad things are in Greece, and Spain. If we subscribe to that theory, then we have witnessed a decrease in PM prices due to the "fear" of a Greek default. What then are we to expect if there is an actual default?

We have watched for over a year as European leadership, led by Merkozy, played paddycake with one another as they pretended to solve the Greek debt woes. That same leadership has spoonfed a willing and complicit press, which would on the occasion of the conclusion of each summit, trumpet that, hallelujah, a solution has been found. These antics are nothing more than a manifestation of an open secret combination intended to continue to deceive the sheeple of all lands. They were merely buying time for the elites to drain more wealth from their respective middle-class citizenry.

If Greece shuffles through a sovereign bankruptcy, orderly or otherwise, the euro will take a beating the likes of which we have not seen since its illegitimate creation. A laughable "flight to safety" will temporarily boost the US$. These conditions make it hard for any of us to predict PM prices. However, one might safely assume that gold and silver could find multi-year lows given the recent rumor-based price gyrations.

[68Camaro]

Great to see you again Doug! I saw you lurking here the other night but didn't have time to say anything then.

[Thogey]

Great to see you again Doug! I saw you lurking here the other night but didn't have time to say anything then.

Don't scare him off! Just pretend he never left