I can guarantee Ag will drop in price dramatically now

[JerrySpringer]

I just made my first purchase online for some Indian/Buffalo rounds from a dealer. I can be pretty sure silver will drop in price big time now. Oh well. Domestic wine and staycations for the next year I guess .

[RD5]

Why do you say that? Have bad luck?

[dakota1955]

That is something we all say if we have brought for a while that silver will go down after we brought or silver will go up if we sell.

[RD5]

ahh, I'd like it to stay at a manageable price for my low budget, but since I bought some, it will go down yay

[frugi]

yeah I just bought a lb. so it will definitely go down tomorrow. it is already on its way down tonite in the foreign market. but it is okay, I hope it goes down by $10.00 per day.

[RD5]

I'm with you man!

[deacon]

I just made my first purchase online for some Indian/Buffalo rounds from a dealer. I can be pretty sure silver will drop in price big time now.

You are too kind. I will have to buy more now .

Anyway, after the 4 percent gain we can probably expect a market correction down. The floor was broken last week, so I'm bearish again on silver. I think TPTB covered shorts on Friday, and will begin shorting again on Wednesday or Thursday.

[RD5]

How low do you guys think it will go?

[JerrySpringer]

What me worry?

Actually, silver dropping a lot will not bother me. I guess I was lamenting all the vacations of the past where I spent $$$ and came back to work and home and thought "I should of just bought some silver rounds or SAEs instead of blowing umpteen bucks going to this place or another". I am still pretty convinced that precious metals have many more moves up and down to make. I think the gist of things is this is a long-term investment.

[JerrySpringer]

How low do you guys think it will go?

If I go by the chart, it could hit $20. Not a prediction, just what the chart looks like to me. Nothing surprises me though. I do feel much more comfortable looking at a troy ounce of Ag than the equivalent dollar amount in paper currency.

[JerrySpringer]

[JerrySpringer]

Just got my Buffalo rounds today. Nice 5 day shipping. The rounds are nicer than I expected them to be. I'm buying more when Ag hits 20.

[deacon]

I still vote that 26.50 is the "low" right now. I'll buy silver as long as funds last in the 26.50 - 28 range. I wont argue with 27.10. Or we can all stop buying silver, and let it really fall! Too bad the prisoner dilemma wont let that happen.

[JerrySpringer]

I still vote that 26.50 is the "low" right now. I'll buy silver as long as funds last in the 26.50 - 28 range. I wont argue with 27.10. Or we can all stop buying silver, and let it really fall! Too bad the prisoner dilemma wont let that happen.

Cue "Jaws" theme music

[westky]

That is something we all say if we have brought for a while that silver will go down after we brought or silver will go up if we sell.

Just remember that when you buy someone else was selling. Maybe their luck will be worse than yours.

[reddirtcoins]

I still vote that 26.50 is the "low" right now. I'll buy silver as long as funds last in the 26.50 - 28 range. I wont argue with 27.10. Or we can all stop buying silver, and let it really fall! Too bad the prisoner dilemma wont let that happen.

I'm kind of thinking we will see under 20. call me crazy but, I'm already moving some stock into fiat just for that event.

[scrapper2010]

Barrytrot, would you like to weigh in on this?

[JobIII]

There were a lot of people selling large lots of silver on RC over the last couple weeks. Not sure if that's an indication of things to come.

[barrytrot]

It's at 26.87 on Kitco right now.

So 20 would be a 26% drop. That's pretty dramatic in anyone's opinion I would think.

And really that would be a 43% drop from 35 which was a reasonable silver basis not too long ago.

And, of course that's a 60% drop from previous 2-year high.

All very dramatic.


I challenge someone that TRULY believes this will occur to buy some way out of the money Put options. Either 2013's or 2014's. Both have pretty small premiums relative to the gain being made. I doubt anyone will declare they are doing that.

Me, however, I have good bit of the investments I manage in Silver and it's all way under water right now as the exercise prices are either 31 or 30 throughout. So I'm putting my money (and some other people's!) where my big mouth is. Not that any correlation between money and "being right" exist. But it shows that I'm not just saying something off hand.

I've said for a long while that 25 for a complete day was impossible. I'll reiterate that again even though a 7% drop seems quite possible under any normal conditions. Of course, I would call NOW to be a 20% drop already from where it had been for quite some time.


I'm calling out the "it will go under 20 crowd" -> buy some long term puts. You can quintuple your money easily. If you aren't doing that you are just talking.

[barrytrot]

There were a lot of people selling large lots of silver on RC over the last couple weeks. Not sure if that's an indication of things to come.

If anything realcent is in diametric opposition to the economy as a whole

But since RC is often in diametric opposition to itself it's hard to gauge

[deacon]

I still vote that 26.50 is the "low" right now. I'll buy silver as long as funds last in the 26.50 - 28 range. I wont argue with 27.10. Or we can all stop buying silver, and let it really fall! Too bad the prisoner dilemma wont let that happen.

Cue "Jaws" theme music

We held the line again. This is what, the third time in 4 weeks? I have to openly ask why. Let it fall.

[reddirtcoins]

It's all fun... and I have to say every time I think it's going one way, it goes the other. So just to hedge some of my inventory I've done the push into gold over time and over the last few months moved for digits of ounces into some cash just in case what is flipping in my mind really does come true. Then I'll have some cash to buy with and not be kicking myself although everything seems like silver is the way to go I still have to pay attention to the fact the G2S ratio can look the same when traveling from 35-25. So instead of being stuck I can gain more if on the way down I flip some silver into gold (lose less %) and flip back or in the case I'm flipping into some into fiat waiting for the teens. If it doesn't work it is no big deal. It's all under 10bucks an ounce anyways.