Buying Silver

[Country]

Bought some more CEF around 2:30 EDT at 18.63 ($27.00 SILVER spot at that time). $27 level is the 600-day support line. If $27 holds, there will be a very sharp rebound.

[Beau]

Get ready to play Ball guys.

[Country]

I think we've bottomed when SILVER hit $26.68 today. Moving higher (now $27.55) in the after hours. This could be quite a bounce....

[Cu Later]

took my second swing at 26.90

[Jonflyfish]

On vacation and checking in from The Bahamas.
Glad to see the lucky hedgemoney was well placed for a rally.
Cheers!

[BamaJoe]

On vacation and checking in from The Bahamas.
Glad to see the lucky hedgemoney was well placed for a rally.
Cheers!

Enjoy the sights and drink a couple for me.

[fb101]

Yeah relax and enjoy.

[Copper Catcher]

On vacation and checking in from The Bahamas.
Glad to see the lucky hedgemoney was well placed for a rally.
Cheers!

Bring us all back one of those little drink umbrellas!

[OneBiteAtATime]

On vacation and checking in from The Bahamas.
Glad to see the lucky hedgemoney was well placed for a rally.
Cheers!

Bring us all back one of those little drink umbrellas!

Little drink umbrellas on sale for only $7 each!!!! PM me for details!!!

[Pennybug]

Curious...

Barry... on SEVERAL posts about a month or so ago... you had held out HARD on the belief that silver would NEVER AGAIN go below $25. Just wondering... you still holding out on that?

I dunno... I wasn't quite as hard lined on that as you were on that point... but I did prety much agree with you that I really didn't think we'd ever see $25 again... but I'm thinking otherwise now.
You?

[OneBiteAtATime]

As recently as yesterday, I think.... Maybe Wednesday, anyhow, Barry again opined that silver will not go below 25 again.

[Engineer]

I can't remember who said it, but a couple of months ago some of the people here were certain we'd never see silver under 30 again.

[barrytrot]

I can't remember who said it, but a couple of months ago some of the people here were certain we'd never see silver under 30 again.

No one said they were *certain* about "never under 30" that I'm aware of.

I have said that silver will never go under 25 again, but other than that, people are just "pretty sure" not "certain". I'm "certain".

[barrytrot]

Curious...

Barry... on SEVERAL posts about a month or so ago... you had held out HARD on the belief that silver would NEVER AGAIN go below $25. Just wondering... you still holding out on that?

I dunno... I wasn't quite as hard lined on that as you were on that point... but I did pretty much agree with you that I really didn't think we'd ever see $25 again... but I'm thinking otherwise now.
You?

I'm still positive it never goes under 25. Going to 27 or 26 or whatever is not 25 I've said it a few times and never wavered and I have a significant portion of my money backing my mouth up So if I'm wrong I will personally hurt because of it! Quite a lot, actually!

[fb101]

I'd like to agree, but..
the market action if I were talking normal anything would certainly back up your conviction.
the BUT is, there is Soooooooooooooooooooooooo much manipulation in this market that nothing is certain.
I notice how at times after the markets close here, they (?who?) move overseas and start driving down the price
these markets behave nothing like ordinary markets.
the bounce we made here would be called a double bottom in any other market, and could be trusted for a good run up.
NO trust here.

[beauanderos]

I'd like to agree, but..
the market action if I were talking normal anything would certainly back up your conviction.
the BUT is, there is Soooooooooooooooooooooooo much manipulation in this market that nothing is certain.
I notice how at times after the markets close here, they (?who?) move overseas and start driving down the price
these markets behave nothing like ordinary markets.
the bounce we made here would be called a double bottom in any other market, and could be trusted for a good run up.
NO trust here.

Exactly

[Engineer]

I'd like to agree, but..
the market action if I were talking normal anything would certainly back up your conviction.
the BUT is, there is Soooooooooooooooooooooooo much manipulation in this market that nothing is certain.
I notice how at times after the markets close here, they (?who?) move overseas and start driving down the price
these markets behave nothing like ordinary markets.
the bounce we made here would be called a double bottom in any other market, and could be trusted for a good run up.
NO trust here.

Uncertainty depresses prices, and I'm pretty certain we can all agree that the central bankers want to keep PM prices down. From some perspectives I don't mind them doing so because low prices allow me to purchase more ounces.

[barrytrot]

Can you show me where uncertainty depresses prices?

I would think, by definition "uncertainty" is coupled with a price change that is uncertain. I.e. it might go up, it might go down.

[Engineer]

Can you show me where uncertainty depresses prices?

I think a better question is: Can you show me where it doesn't?

Even on something as simple as a gallon of milk, if you can't read the expiration date you aren't going to want to pay full price for it.

If you're selling a coin, would you rather sell it to a well respected member here, or for a 1-2% less in a local cash transaction? I'd jump on that 1-2% less in a heartbeat just to avoid the uncertainty of losing the coin in the mail.

If there are rumors going around your workplace that they're considering layoffs, would you be willing to spend as much on a house than if the company had just announced record earnings and hinted that they'd be hiring more people soon?

[68Camaro]

The "problem" I have with these conversations is lack of context, or rather mixed context. Everyone is contributing their thoughts, but each person tends to come at this from a different angle - which (in my mind) results in chaotic Babylonian-style conversations where everyone is talking past everyone else.


a) short-term paper trading
b) short-term physical flipping
c) long-term physical buy and hold

There could be other paths: Long-term paper buy and hold. Division of paper trading into paper with questionable backing versus paper with 100% audited physical (though typically at a spot premium. But I think the three above are the most often discussed.

I have to end this for the moment, but I would like these discussions to have a context. I think there need to be multiple threads, each devoted to one context.

[barrytrot]

Can you show me where uncertainty depresses prices?

I think a better question is: Can you show me where it doesn't?

Even on something as simple as a gallon of milk, if you can't read the expiration date you aren't going to want to pay full price for it.

If you're selling a coin, would you rather sell it to a well respected member here, or for a 1-2% less in a local cash transaction? I'd jump on that 1-2% less in a heartbeat just to avoid the uncertainty of losing the coin in the mail.

If there are rumors going around your workplace that they're considering layoffs, would you be willing to spend as much on a house than if the company had just announced record earnings and hinted that they'd be hiring more people soon?

Ok, I see what you meant by uncertainty now. Which is not what "uncertainty in investing" is.

Uncertainty in investing is the absence of information. What you are talking about is the presence of information, but that information indicates the possibility of a negative outcome.

So, what you were saying is true. But, that's not the same as "uncertainty in investing".

Uncertainty in investing causes wild swings some of the time, high, then low, etc.

What it also does, is pump up option premiums. I like that actually since I'm not nearly as uncertain about things as the "market" is and therefore it's like free money a lot of the time.

[IdahoCopper]

Perhaps the manipulators are keeping the prices of PM low so they can >slowly<:

c) long-term physical buy and hold

to exit fiat and have and hold as much real money as possible on the other side of the looming financial armageddon

[beauanderos]

Perhaps the manipulators are keeping the prices of PM low so they can >slowly<:

c) long-term physical buy and hold

to exit fiat and have and hold as much real money as possible on the other side of the looming financial armageddon

There is no perhaps. That is exactly what they are doing... and they'd like US to all become the weak hands by their trickery, while they become the strong hands. They want it all, and will continue their deceitful, duplicitous ploys until they figure they've scooped up all they can.

[Country]

I think there is an international dynamic here as well. Banksters might be foiled by others who gravitate to a partially-backed GOLD currency. It's difficult to see how it would exactly play out, but a critical mistake on their part may have them loose their game. Who knows what the catalyst will be. Perhaps, it may that a number of sovereigns have the objective and a vested interest to keep the price of GOLD, and other critical rare metals used in manufacturing processes, low as they accumulate in anticipation of their longer range plan to discard the dollar. Wall Steet might in fact be accomodating that acquisition for these sovereigns, as a gesture for something given back to Wall Street. Certainly, there are rumors that China might be seeking that kind of currency during this decade to ameliorate their potential losses holding our US Treasuries. While short term profits may be the goal of many Western economies, longer range planning is the patient objective in China and other Asian economies. As such, while the Banksters seem to have the game fixed for their benefit, I think it wise to patiently accumulate PMs, take advantage of opportunities, because Wall Street could loose control by some overnight decision by international sovereigns who want the game played on their home field.

[68Camaro]

Rest assured that China has not been accumulating gold for the better part of 10 years, now at the rate of hundreds of tons per year, just for fun. So put that into perspective, in round numbers. At current prices that's about $50,000,000 per ton. 20 tons per billion. 20,000 tons would be a trillion. As best we know they are in the very low thousands of tons, well behind the US (if we actually still have any - who know?), but accelerating their accumulation, and at accelerated rates they will pass us in gold in only a few more years. They are doing this by both retaining all domestic mined product, as well as buying on open market, selling USD to buy western gold.