Any others all in at this point?

[barrytrot]

Yes Barry I'm all in based on your previous advice. Hope it goes up soon or I may need to live in your spare room.

Are you handy around the house? If so, come any time!

[68Camaro]

My congratulations to those that were true believers in this drop coming. So the large question for you is now when to buy, and... my related question to you: will you actually buy, ever, or will you continue to dither waiting for a further drop after the reversal (as happens to so many each time there is a major drop)?

From the above responses, "all in" is obviously a term that means different things to different people.

While I recognized the drop as a possibility based on the action of long term waves (most recently commented on here by inflexion), I did not regard that as a high enough probability to bet my future on it. I'm still of the Ponce faith: if you don't hold it you don't own it. And I also believe at the "end" there will come a reversal so fast that physical metal will not be practically achievable by many that want it, so I continue to operate with that as a principle, right or wrong. I'm somewhat dismayed at the drop, regretful that I spent more of my powder earlier, but I recognize it as a "fire sale", my convictions are unshaken, and I don't live in the past.

These prices are not sustainable, for long. The demand is too high, and the amount of new metal will soon be significantly dropping. The profit margins of all mines have diminished significantly, and the many mines already operating at a loss are serially ceasing operations - or have announced that they are preparing to. Are there some mines with lower costs? Sure, but they can't fill the void. In the end this drop just cements the next rise, as the metal moves from weaker hands to stronger ones.

The fact that one might be able to buy a new Ford SUV for $5000 in a crisis doesn't diminish the fact that is costs Ford $20,000 to make another one. As soon as the market dries up anyone needing that new SUV will then have to pay $30,000 or $40,000 for one. GIven time, in autos, a competitor would eventually fill the void at $10,000 or $20,000. But it doesn't work that way for PM products.

I will be looking for one more last gasp purchase, soon. Not sure when I'll pull that trigger, and if I miss the low I won't beat myself up for it.

Best wishes to all of you!

[neilgin1]

I'm all in and I took a few other people with me


Anyone else all in at this point?

"all in?"

Hey Barry!....ummm. lets say for discussion purposes, I do have a "stack", lets say its a REALLY good stack...physical.

now, what I can do...at this second, is to leverage credit to ADD to this hypothetical stack, right?

and I have the credit. I do, BUT, my gut is telling to run counter to what govt's are doing, which is deficit run.

so that said, my personal onus is to pay OFF credit...at this time, not paying attention to lower cash prices, even though I have ample credit to stack more, so in that case, I guess, i'm NOT "all in".....BUT my stack is probably larger than 99% of all my fellow Americans....though not larger than 99% of all my fellow RC'er's...lol.

I feel good....and i'll tell you what....the less and less, I keep reading the daily comings and goings of either the MSM, or the alt-media....the better I feel.

has "rain" been forecast?...yes. Can I see thunderheads on the horizon? yes Will I get a little wet? yes......Will I be drowned?...with God's Grace, no.

you have a great day, you and all fellow RC'ers, neil

ps...I am missing ONE thing I wanted in my stack, and its my fault......I did and do, want to get a $10 (toz) roll of Rodee Rolos, SEALED in my stack, if such a stack did exist.

[neilgin1]

I have been all in for 11 years now.

I love it!!! amen!! (i'm laughing, coz i'm wondering what ASE Rolls, must have been trading for in 2002!...yeh boy!!!...I wouldn't sell a toz!!!)

[barrytrot]

I'm all in and I took a few other people with me


Anyone else all in at this point?

"all in?"

Hey Barry!....ummm. lets say for discussion purposes, I do have a "stack", lets say its a REALLY good stack...physical.

now, what I can do...at this second, is to leverage credit to ADD to this hypothetical stack, right?

and I have the credit. I do, BUT, my gut is telling to run counter to what govt's are doing, which is deficit run.

so that said, my personal onus is to pay OFF credit...at this time, not paying attention to lower cash prices, even though I have ample credit to stack more, so in that case, I guess, i'm NOT "all in".....BUT my stack is probably larger than 99% of all my fellow Americans....though not larger than 99% of all my fellow RC'er's...lol.

I feel good....and i'll tell you what....the less and less, I keep reading the daily comings and goings of either the MSM, or the alt-media....the better I feel.

has "rain" been forecast?...yes. Can I see thunderheads on the horizon? yes Will I get a little wet? yes......Will I be drowned?...with God's Grace, no.

you have a great day, you and all fellow RC'ers, neil

ps...I am missing ONE thing I wanted in my stack, and its my fault......I did and do, want to get a $10 (toz) roll of Rodee Rolos, SEALED in my stack, if such a stack did exist.

I would label "using credit" to be "more than all in". I wouldn't recommend that in any situation

I would wager there aren't many here with more debt than me, but all of that is property, zero rolling credit card balances or anything of that nature and I invest with my cash on hand only and don't use margin. NOTE: I used to use margin but I lost on literally 99% of margin deals whereas I gained on literally 99% of non-margin deals. Somehow it still took a while to learn

[neilgin1]

I'm all out.......of what I had planned to move.
I will be all in when we hit my new target.
Please don't string me up. I don't like it anymore than the next guy.

Doc, I would have EAGERILY paid the 384 and change for one of those 10toz RodeeRolos back when, and not even thought twice, or whine this very day, but there was a certain LOT of $40 FV 64 Kenn Proofs....all MS67's and better, than I HAD to go for....do I regret those?

NO!!!.....they have shed VERY little of their value....very little.....but of ALL the non US 90% and .999 silver coinage, meaning bars and rounds...there is ONLY ONE Round Roll, I am going to, God willing, purchase in the future, should a certain smelter decide to heat up the pot....Rollos. its just a superior store of wealth, art and commerce meeting. Bravo, stay strong, neil

[Rodebaugh]

The 2014 Rolos are going to be cheap this year if we keep this smackdown rolling.

[reddirtcoins]

test.. well I had a reply but it seems to have gone missing....

[InfleXion]

This isn't capitulation yet if people are still talking about going all in. Thus, the market will drift/plunge lower still.

In general I agree with you, but we are a pretty hard core group. I'm buying all the way down to $9 if need be.

I'm sure there was a group that rode silver from the 1980 peak all the way down to the 1999 lows.

Of course paper PMs are another matter. I paired down quite a bit when it broke through $26 and started getting back in a little today.

Ditto. I will not be capitulating even if the price goes to zero. The cheaper it gets the more I get to buy with my cash. If we want to gauge capitulation we'll have to look elsewhere

The only way I will consider getting out of my metals position is if the following criteria is met.
- Real interest rates become positive again (interest rates being higher than real inflation). Meaning not only zero QE but also high interest rates.
- Metal exchanges start significantly adding metal to their reserves instead of losing it
- Silver demand no longer exceeds mining supply

If we get a metal backed currency in the absence of these other things I will probably still hold my metal since it would be a wash anyway, so no need to swap out except as funds are needed.

[neilgin1]

The 2014 Rolos are going to be cheap this year if we keep this smackdown rolling.

this smackdown is CLEARLY a foul aberration of some very greedy, frightened, foolish, and wicked men, acting like cornered gamblers....and it isn't going to last. But the grievous thing is, a lot of unknowing innocents that are called "sheep" are going to suffer....even those who bought "umbrellas" are going to get wet as well.....we just don't want to drown.

[neilgin1]

I would label "using credit" to be "more than all in". I wouldn't recommend that in any situation

I would wager there aren't many here with more debt than me, but all of that is property, zero rolling credit card balances or anything of that nature and I invest with my cash on hand only and don't use margin. NOTE: I used to use margin but I lost on literally 99% of margin deals whereas I gained on literally 99% of non-margin deals. Somehow it still took a while to learn

oh no Barry....i'm good....if you knew the figure....credit wise, you'd just roll your eyes....its miniscule....comparatively, and I SURE intend on keeping it that way....which is WHY i'm paying down NOW!!!......and a couple rolling cards are getting cut...the only reason I USE cards, is I don't like having my main acct floating about in e-commerce dealings.....(I didn't see your response, that's why it took me so long to reply)

i'm sorry you lost on the margin deals.....that's why speculating makes me nervous...I USED to have the stones and the craziness to speculate....there's two trades right NOW, i'd wanna do..........selling new crop Corn, July14 13 cents over new new crop Corn, Dec14.....and also I would have had a 30 cent ($1500 per car) lead on buying Minn Dec13 Wheat 20 cents over selling KC Dec14 Wheat....its 50 to 60 cents over right NOW...I saw it happening.....knew where it was going......BUT I CANT TAKE THE HEAT!!!!....I am not built anymore to speculate....even if it is fairly sedate grain spreading.......no!!

good OP post bru.

[barrytrot]

I lost on the margin deals and learned my lesson, so I'm not sorry for that. I am only sorry that 10 times or 20 times (whatever the number) wasn't enough to teach me. But that 21st "stuck"

[JobIII]

Barry what do you mean by all-in? have you used up your liquid assets or done something more aggressive like a major shift in your portfolio and physical holdings?

~JobIII

[barrytrot]

Barry what do you mean by all-in? have you used up your liquid assets or done something more aggressive like a major shift in your portfolio and physical holdings?

~JobIII

All my stock accounts are 100% silver. And I control a few other people's accounts that are also 100% silver.

Is that all in enough for you?

[barrytrot]

I believe I have posted previously (seems like a couple years ago now) that I never believed in "diversification". Here is proof for you

[Sheikh_yer_Bu'Tay]

I have been all in for 11 years now.

I love it!!! amen!! (i'm laughing, coz i'm wondering what ASE Rolls, must have been trading for in 2002!...yeh boy!!!...I wouldn't sell a toz!!!)

In 2002 I paid $9 per ASE. At the time I thought is was a HUGE rip-off!

I paid $4.75 to $7 during the 90's, but I wasn't all in during that period.

[JobIII]

Barry what do you mean by all-in? have you used up your liquid assets or done something more aggressive like a major shift in your portfolio and physical holdings?

~JobIII

All my stock accounts are 100% silver. And I control a few other people's accounts that are also 100% silver.

Is that all in enough for you?

That's what I wanted to know. Though you say stock accounts, does that mean you are hedging your equity bet by holding some index funds or bonds?

Look when it comes to the market and investing everyone knows the basic principle, "buy low, sell high". Silver ETF's like AGQ and SLV are basically at their 52-week lows and physical silver is nearing a 3-year low (gross approximation). So for anyone looking to invest in silver, now could be a great time to do it. I just think anyone considering this option should also realize that there is still a lot of risk here.

Keeping in mind that this is an incredibly volatile commodity. Here is how your $100k AGQ investment would be fairing at certain time points. Say you were to make the shift and invested:

1 day ago - No change...yet
2 days ago - $98.46K (-1.54%)
3 days ago - $89.46K (-10.54%)
10 days ago - $70K (-30%)

If you believe that the market is cyclical in nature, and that previous data is indicative of future performance. You could argue that June - July are going to be the low months of the 2013 calendar year.

Although the idea of a 100% or greater rates of return is appealing. I will not be going all-in into physical or paper precious metals. That being said. If i were going to go all-in I would definitely put most of the money into paper versus physical.

To those of you that have followed Barry's "picket-like" charge, you have my deepest respect. Many of us think about the what-if's few actually go out and do it.

~JobIII

[scyther]

I have been all in for 11 years now.

I love it!!! amen!! (i'm laughing, coz i'm wondering what ASE Rolls, must have been trading for in 2002!...yeh boy!!!...I wouldn't sell a toz!!!)

In 2002 I paid $9 per ASE. At the time I thought is was a HUGE rip-off!

I paid $4.75 to $7 during the 90's, but I wasn't all in during that period.

It kinda was a huge ripoff. Sure you made money on it, but you could have made a lot more on generic .999 or 90%...

[ZenOps]

Gold drops to $1200. That sure didn't take very long.

[Jonflyfish]

Gold drops to $1200. That sure didn't take very long.

Like clockwork- All part of the plan.

Cheers!

[scyther]

Gold drops to $1200. That sure didn't take very long.

Like clockwork- All part of the plan.

Cheers!

But of course you couldn't know the nonexistent future .

[barrytrot]

That's what I wanted to know. Though you say stock accounts, does that mean you are hedging your equity bet by holding some index funds or bonds?

Look when it comes to the market and investing everyone knows the basic principle, "buy low, sell high". Silver ETF's like AGQ and SLV are basically at their 52-week lows and physical silver is nearing a 3-year low (gross approximation). So for anyone looking to invest in silver, now could be a great time to do it. I just think anyone considering this option should also realize that there is still a lot of risk here.

Keeping in mind that this is an incredibly volatile commodity. Here is how your $100k AGQ investment would be fairing at certain time points. Say you were to make the shift and invested:

1 day ago - No change...yet
2 days ago - $98.46K (-1.54%)
3 days ago - $89.46K (-10.54%)
10 days ago - $70K (-30%)

If you believe that the market is cyclical in nature, and that previous data is indicative of future performance. You could argue that June - July are going to be the low months of the 2013 calendar year.

Although the idea of a 100% or greater rates of return is appealing. I will not be going all-in into physical or paper precious metals. That being said. If i were going to go all-in I would definitely put most of the money into paper versus physical.

To those of you that have followed Barry's "picket-like" charge, you have my deepest respect. Many of us think about the what-if's few actually go out and do it.

~JobIII

Zero hedging unless you classify the use of options hedging. All my portfolios are in some variant of "silver ETF". Nothing else.

Risk: yes, of course. But in the long term that's only if silver goes to $10/$9/$8/whatever and stays there for years. That's possible, of course, but that's the only long term risk.

Also I mitigated a little of the risk by biting when the option premiums themselves had spiked. So even if silver is EXACTLY the same as it was when I bought in on July 1st I will have made some money and could liquidate at that point.

And I may liquidate part of it if a chance to get out with a gain after a few days arises.

[shinnosuke]

That's what I wanted to know. Though you say stock accounts, does that mean you are hedging your equity bet by holding some index funds or bonds?

Look when it comes to the market and investing everyone knows the basic principle, "buy low, sell high". Silver ETF's like AGQ and SLV are basically at their 52-week lows and physical silver is nearing a 3-year low (gross approximation). So for anyone looking to invest in silver, now could be a great time to do it. I just think anyone considering this option should also realize that there is still a lot of risk here.

To those of you that have followed Barry's "picket-like" charge, you have my deepest respect. Many of us think about the what-if's few actually go out and do it.

~JobIII

JobIII,
Forgive me for jumping in here, but I thought there might be a chance of some readers not knowing what you meant by the term "picket-like charge."

We are approaching the 150th anniversary of the ill-fated charge up a hill by troops under Maj. Gen. George Pickett and two other Generals serving under Longstreet on 3Jul1863. The infantry ordered up the hill into heavy Yankee rifle and cannon fire were valiant in the execution of their duties, but superior fire prevented them from dislodging their enemy. Losses were horrendous among the men in grey.

Years later, when asked why his charge at Gettysburg failed, General Pickett replied: "I've always thought the Yankees had something to do with it."

[theo]

I was there a couple weeks ago and ate at "General Pickett's Buffet" (Not bad for a buffet). Since the restaurant actually sits on part of the field that the charge took place its not terribly popular with some of the locals.

Anyway according to our tour guide it was not quite the inevitable failure that some historians have made it out to be. General Lee had attacked the left and then right flank of the union lines the first to two days of the battle. Therefore Lee concluded that the center of the union line was thinned out and vulnerable to a concentrated attack. Unfortunately for Lee, Union General George Meade came to the same conclusion and reinforced his center. The confederates did breakthrough at one point, but they were quickly routed by a union counter-attack.

[shinnosuke]

theo, Lee decided to go "all in" with the attack, but Longstreet advised against. Of course, Lee's decision was final. What hurt Lee the most was the loss of his eyes when J.E.B. Stuart wasn't providing Yankee troop movement reports. Lee was seriously dependent on Stuart's communication and therefore flew blind for a while.