How Low Can It Go?

[Hawkeye]

Silver has dipped to $28.86 as I type this. The lower price doesn't bother me at all as I look at it as an opportunity to buy. Here is my problem: I am starting to run out of money to "buy this dip." I can't help but wonder how much lower she's going to go. What do all of you think? There are a lot of people on here who spend a lot more time studying charts and trends than I do and who know a lot more about the market than I do and I value your opinion. Thanks.

[Country]

No one knows for sure, but the charts do indicate that SILVER has strong support in the $26-$27 range. It has bounced 5 times from this level since 2011.

I think it is very oversold right here, but SILVER could go to $28 very easily.

Nasty little correction, LOOK FOR DEALS!!!

JonFly - Could you offer some insight?

[blackrabbit]

Wow! Still dropping. Good thing I held off on a couple buys that were tempting yesterday! I have no real insight to anything except that the big picture is the same. So if you are freaking out sell your stuff now, here on realcent. I am looking for deals.

[barrytrot]

It may go lower, but I just jumped in with a pretty substantial (for me) long position. So hopefully it doesn't reduce too much more

I'm quite bullish at this level

[SoFa]

The more times it tests support, the less likely it is to hold.
My guess is silver goes lower and SLV fills the gaps.
Get ready for some cheap silver.

[$nack-Money]

$19 silver coming soon

[JobIII]

That kind of mentality got me banned from Silverseek...

[shinnosuke]

...bouncing back?

[JobIII]

I wouldn't get your hopes up shin. I wouldn't be surprised in silver went below $27 by next Friday.

[neilgin1]

The more times it tests support, the less likely it is to hold.
My guess is silver goes lower and SLV fills the gaps.
Get ready for some cheap silver.

sure nuff.....its all tied to equities, imo. for all intensive purposes, the board, futures is a jimmy rigged market....four plus VERY LARGE sellers, perma shorts with all the money in the world at their disposal.

now equities are mucho vulnerable, and i make this statement on the basis of two charts,

M2 Velocity



and i couldnt find a suitable jpg image of the Baltic Dry Index shipping chart, which is a disaster, here's a link to an interactive BDI chart, you can hit the "5 yr" chart for some perspective.

http://www.bloomberg.com/quote/BDIY:IND/chart

and a good ZH article, which deals with an 8% plunge in the BDI from 12 Dec 2012

http://www.zerohedge.com/news/2012-12-1 ... -most-2008

so, maybe we're on the eve of really steep equities sell off...maybe the "sequestor" will be the push, just as Lehman was the push in 08, which took silver down to $9.....i cant "make a call" where we go,simply coz the board IS so jimmy rigged.....but if we do get into the 9 to $15, it will be interesting to see, REAL WORLD, how many guys will sell physical silver at 15...or 12....or 9......would you?

i know everyone here is salivating at the prospect of MAYBE being able to buy $15 silver....or $10! silver....but, correct me if i'm wrong, but you need a willing seller, right?

this is a crazy thought, but WHAT IF, the board to physical went ballistic?...the board quote is 15, but the lowest physical you could find would be maybe $9 over?...i dont know....seems like everything is pinging off equities.

[shinnosuke]

I wouldn't get your hopes up shin. I wouldn't be surprised in silver went below $27 by next Friday.

Hey Job, I have bought a lot (for me) lately and, as a result, feel a little tightness in my gut, but the best outcome for me would be lower still because I'm still buying. Dollar cost averaging is my friend.

By the way, how did you know to call me "shin" instead of "Shinn" as many do here?

[beauanderos]

Breaking to the downside of the 200 day moving average is usually a fairly accurate indicator of a good buying opportunity.

[JobIII]

I wouldn't get your hopes up shin. I wouldn't be surprised in silver went below $27 by next Friday.

By the way, how did you know to call me "shin" instead of "Shinn" as many do here?

What is this about your name?

I agree that dollar cost averaging will buffer your profit/loss margin.

[NHsorter]

I already got my buying done (last week) so I am all set. haha. Thanks Ray.

[neilgin1]

That kind of mentality got me banned from Silverseek...

how so?....by being a truth teller?...which makes you a heretick in the 'church of the 1st Ag PermaBull"?

i mean i think silver's worth somewhere between $500-1000 an ounce, but like i said above, we could see 9 dollar silver again..ON THE BOARD.

now if you want a good laugh, or to get angry....check out THIS heretick...the poor lad is vitamin D deficient.....he's saying, the FED has it right...slamming "gold bugs"....this heretick wouldnt just get banned from a forum....oh no, he'd get the stake, and bitumen soaked oak brush...and FIRE!!! lol

http://finance.yahoo.com/blogs/breakout/critics-damned-bernanke-getting-munson-141630347.html;_ylt=ApwggehBxeD8LhO1vOos7IGiuYdG;_ylu=X3oDMTNycmpqMDYxBG1pdANGUCBUb3AgU3RvcnkgTGVmdARwa2cDMDRlMDM2MWEtZjg3Zi0zNTJlLTk5N2YtOTIyMGYyNTgzZWY4BHBvcwMyBHNlYwN0b3Bfc3RvcnkEdmVyA2M4Mzk4OWEzLTdiNmEtMTFlMi1hZmU3LTZlODRmYTMyYzE4ZA--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

check this out, the sequester food fight is heating up!!!
http://finance.yahoo.com/news/rhetoric-turns-harsh-budget-cuts-033300547.html;_ylt=Arfhs2S0kFbU7HTXvvE65lCiuYdG;_ylu=X3oDMTRwcnFxM3RhBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yaWVzIG1peGVkIGxpc3QEcGtnAzAxOWViMmYwLWNhOTQtM2NhYi04NjcyLTlkMGY4MWEyMDg5OARwb3MDMQRzZWMDTWVkaWFCTGlzdE1peGVkTFBDQVRlbXAEdmVyAzcwMjQ2OTgzLTdiNTQtMTFlMi1hZTlmLThkY2M4MDYxYzJhMA--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
as Apple goes, so do equities, and as equities go, so does silver.......did you really get banned?

[JobIII]

Not to really harp on it. But I think the idea that someone could honestly see silver below $15 made some people uneasy at that site. I simply defended a position that was contrary to the group think that site promotes and resulted in a ban.

Not the end of the world, just surprised that it happened.

[Coppercrazy]

which I had a crystal ball! We've seen strong support at 26.00 for a long time now.I cant resist making small purchases at the local shops when ever silvers under 30! I say this is a great buying opportunity especially from local shops that sell for basically at spot! If it goes much lower,I dont think they will have any to sell,unless they buy it at the current price,which could easily happen,someones always selling off inherited coins,etc...

[Coppercrazy]

I do think if theres a steep drop the premium over silver in all forms will widen! Anybody keeping an eye on how auctions are ending today on ebay?

[beauanderos]

I do think if theres a steep drop the premium over silver in all forms will widen! Anybody keeping an eye on how auctions are ending today on ebay?

you'd have to look forward three days or so to see any impact. Auctions ending today already had maximum bids placed when spot was higher.

[HPMBTT]

"How Low Can It Go?"

$4.06/oz (11/22/2001)
$3.61/oz (2/27/1991)
$3.57/oz (3/4/1993)

And finally...my favorite (sorry, can't help it). This is for the completists. This is truly the correct answer:
.05 for a silver war nickel from CRH (.89 cents/oz)
.10 for a silver dime from CRH ($1.38/oz)
.25 for a silver quarter from CRH ($1.38/oz)
.50 for a silver 90% half dollar from CRH ($1.38/oz)
.50 for a silver 40% half dollar from CRH ($3.38/oz)

[coppertone]

I do think if theres a steep drop the premium over silver in all forms will widen! Anybody keeping an eye on how auctions are ending today on ebay?

you'd have to look forward three days or so to see any impact. Auctions ending today already had maximum bids placed when spot was higher.

Prices started to fall a week ago on E-Bay, at least for the type of coins I buy(Canada 80% dollars) although prices have stabilized somewhat since yesterday. I think what will happen is that the number of listings will fall sharply in the coming weeks.

[neilgin1]

.......... I simply defended a position that was contrary to the group think..........

i'm sure you realize, those words you just wrote, are at the heart of so many business failures, military defeats, intelligence failures, etc etc etc.

the very words, "group think" drive me crazy..."group think" is why we are, where we are today, in foreign policy, economic policy,etc give me the lone voice of dissent, thats who i want to hear from.

[Mossy]

If I had the money free, I'd be buying like crazy right now. Silver and gold will go back up some time. Better to buy /near/ the bottom than near the top.

[barrytrot]

I literally tapped 100% of my dry powder today.

Could it go lower? Yes?

But here is how I make my decisions in terms of "time to buy". Very simple:

Is the down closer than the up. And it is much closer to the very bottom than even a reasonable "top".

[DirtyFingers]

If I had the money free, I'd be buying like crazy right now. Silver and gold will go back up some time. Better to buy /near/ the bottom than near the top.

Well said! Short, simple and to the point which is exactly where I am at. I made a significant buy midday before another drop this afternoon thinking that PM will probably drop further but I was concerned that the supply may dry up soon.