PM Rally

[shinnosuke]

The fervor with which TPTB are focused on crushing the precious metals market right now (based upon their fear of what the markets would REALLY do if not managed intensively) is inversely related to what would actually happen if they were to lose reign. Turn the charts upside down and go from there.

Still, today's "rally" is rather breathtaking in its splendor, isn't it?

[SoFa]

What if TPTB stop propping up the price (for example, with quantitative easings, margins, etc)?

[Mossy]

What if TPTB stop propping up the price (for example, with quantitative easings, margins, etc)?

Whiplash, watching the price go up.

[shinnosuke]

Full rally mode in effect. Don't try to catch any falling knives.

[scyther]

Full rally mode in effect. Don't try to catch any falling knives.

If it falls much farther than this, something is seriously wrong. I'm buying today.

[shinnosuke]

$25.99

[scyther]

$25.99

We're screwed.

[pennypicker]

$25.99

We're screwed.

I beg to differ. When the price goes up you simply admire the increased value of your hoard. When the price goes down you smile at the chance to increase the size of your hoard. No matter which way it goes just keep a positive attitude and you will be happy no matter where the price is headed.

[scyther]

$25.99

We're screwed.

I beg to differ. When the price goes up you simply admire the increased value of your hoard. When the price goes down you smile at the chance to increase the size of your hoard. No matter which way it goes just keep a positive attitude and you will be happy no matter where the price is headed.

True. But the market generally goes in rather long bull and bear stretches, doesn't it? I'm sure there were a lot of people who thought the same thing in 1980. The price came back, eventually... in nominal terms... but they sure did have to wait a while. If you're able to keep your positive attitude for the next 25 years, good for you (not sarcasm) but I'm sure I'm not the only one who would be... disappointed, to say the least, if this were the end of the bull market.

[Treetop]

disappointed, to say the least, if this were the end of the bull market.

Im not sure how many would be disappointed if PMs truly were headed down for the long term. That would imply things actually improved. I think even those of us totally convinced PMs are still dirt cheap in th elong term would be happy if the market crashed entirely. Unless it was because of some new mining or the like this would imply drastically different global conditions which I believe most of us would be happy about even if our investments were all wrong.

Am I wrong here?

[68Camaro]

What's the problem? PMs are on sale! Take advantage of it!!

[beauanderos]

Full rally mode in effect. Don't try to catch any falling knives.

If it falls much farther than this, something is seriously wrong. I'm buying today.

The market doesn't fall... it is pushed. There's a difference and the distinction is important. Sure, the damage to sentiment is the same for those who aren't students of what occurs with predictable regularity during these price managed suppressive periods. But the rebound (?) length of time required and robustness of response differs. Let them keep their hands off the algorithms for just a month and you'd be amazed what could occur. Think 2010.

[scyther]

disappointed, to say the least, if this were the end of the bull market.

Im not sure how many would be disappointed if PMs truly were headed down for the long term. That would imply things actually improved. I think even those of us totally convinced PMs are still dirt cheap in th elong term would be happy if the market crashed entirely. Unless it was because of some new mining or the like this would imply drastically different global conditions which I believe most of us would be happy about even if our investments were all wrong.

Am I wrong here?

You have a point there. But at least a few people here have "gone all in" with their life saving on silver and gold. It would really suck to lose a huge chunk of it... even if the world as a whole were better off.

Personally, I've never really been stacking for the collapse of the dollar, or the financial system, or the world as we know it. Not saying it couldn't happen, but I'm really not in a position to do any serious prepping (beans bullets, etc.) anyway, so for me it's really about profit or loss.

[scyther]

Full rally mode in effect. Don't try to catch any falling knives.

If it falls much farther than this, something is seriously wrong. I'm buying today.

The market doesn't fall... it is pushed. There's a difference and the distinction is important. Sure, the damage to sentiment is the same for those who aren't students of what occurs with predictable regularity during these price managed suppressive periods. But the rebound (?) length of time required and robustness of response differs. Let them keep their hands off the algorithms for just a month and you'd be amazed what could occur. Think 2010.

2010 sounds nice I certainly hope you're right. I don't care if it goes low for a while if it rebounds quickly; in fact that would of course be a good thing.

[Country]

I've still got some SILVER I bought in 1979 (9X face 90%). I was around for the entire event, and have waited many years to see that SILVER come back in value. Patience is a virtue that stackers need. The way to survive is to stay away from leverage - it will wipe you out if you're leaning the wrong way. Secondly, you've got to have a money flow of fiat that will tide you over that bad times; a good job giving you income, or good retirement money if you're no longer working. Stay away from using someone elses money to acquire your PMs; if you can't afford to buy it with fiat you have, be patient until you have some to be able to buy. I'm a firm believer in abhoring debt; since 1985 when my wife and I paid our house in full. Lastly, diversification, while not the ultimate in asset growth, does keep you afloat during the hurricane.

[fasteddy]

Ok Country, should I buy silver tomorrow or buy my master bath remodeling supplies....hmmmm. And no I am not asking anyone's wives for that answer.

[Country]

Ok Country, should I buy silver tomorrow or buy my master bath remodeling supplies....hmmmm. And no I am not asking anyone's wives for that answer.

After today, I'd be inclined to keep my wife happy.

[SilverDragon72]

$25.99

We're screwed.

I beg to differ. When the price goes up you simply admire the increased value of your hoard. When the price goes down you smile at the chance to increase the size of your hoard. No matter which way it goes just keep a positive attitude and you will be happy no matter where the price is headed.

True words of wisdom!

How can we lose?

[scyther]

And the crash picks up right were it left off as if there had been no interruption. I hope it really won't go under $25, but I'm not counting on it. I'll sit this out for a while and maybe buy more when it bottoms... I'm guessing 21.

[scyther]

It's interesting to note that gold is behaving very differently from silver right now. I'm not sure I've seen that before.

[pennypicker]

I believe the next support level is $22.80. At least that's what the owner of the local coin shop told me on Friday.

[scyther]

I believe the next support level is $22.80. At least that's what the owner of the local coin shop told me on Friday.

What is that based on? I can't see any more support until $9.

[aloneibreak]

barry's day of reckoning might be tomorrow

[scyther]

barry's day of reckoning might be tomorrow

I'm praying for him... for my own sake...

[Thogey]

I am experiencing great joy at this time.

20 or cheaper?

I will buy another 100 pounds.

Buy your silver by the pound!