The price of silver as well as other PMs rise and/or fall on any market day. Like it or not, we've been conditioned over the years to expect that. Today, we experienced about an 8% drop in silver's value. We all have an idea of what may be causing this anomaly, but that's a crap shoot by itself to identify.
Just think of all the world events and pick one to be the cause. I opt for a multitude of reasons that have morphed into a witches' brew of awfulness. Personally, I think it's a trifecta of the stock market reaching new highs, COVID ready to bite more people and political forces that not many of us understand.
Buckle up. There's turbulence ahead.
Trap Door Opens for Silver
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Trap Door Opens for Silver
by Know Common Cents » Fri Jan 08, 2021 1:44 pm
"I don't know what I'm doin' but I'm sure havin' fun" Herman Munster
I've recently adopted the Groucho Marx philosophy for dealing with politics and other life challenges, "Whatever it is, I'm against it!" (Horse Feathers 1932)
I've recently adopted the Groucho Marx philosophy for dealing with politics and other life challenges, "Whatever it is, I'm against it!" (Horse Feathers 1932)
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Re: Trap Door Opens for Silver
by IdahoCopper » Sat Jan 09, 2021 8:58 am
Scuttlebutt says big hit coming Monday on tech stocks, which may drag down the entire market.
At least 10 countries have agreed to nationalize or ban the big social media companies, locally. They are "uncomfortable" that those companies have the power to silence national leaders, like they have done with Trump.
Anyway, take it with a gain of salt. Just a heads up on a low-probability, high impact event. Kind of like a Giant Meteor.
At least 10 countries have agreed to nationalize or ban the big social media companies, locally. They are "uncomfortable" that those companies have the power to silence national leaders, like they have done with Trump.
Anyway, take it with a gain of salt. Just a heads up on a low-probability, high impact event. Kind of like a Giant Meteor.
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Re: Trap Door Opens for Silver
by Morsecode » Sat Jan 09, 2021 8:26 pm
IdahoCopper wrote:Kind of like a Giant Meteor.
Can't get here soon enough.
From hence ye beauties undeceived, know one false step is ne'er retrieved
and be with caution bold.
Not all that tempts your wandering eyes and heedless hearts is lawful prize,
nor all that glistens gold.
- Thomas Gray, 1747
and be with caution bold.
Not all that tempts your wandering eyes and heedless hearts is lawful prize,
nor all that glistens gold.
- Thomas Gray, 1747
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Re: Trap Door Opens for Silver
by Cu Penny Hoarder » Sun Jan 10, 2021 12:07 pm
Morsecode wrote:IdahoCopper wrote:Kind of like a Giant Meteor.
Can't get here soon enough.
Yes, but then the stock market would go even higher.
Time is precious, stop wasting it.
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Re: Trap Door Opens for Silver
by Recyclersteve » Sun Jan 10, 2021 6:23 pm
The term “trap door” implies that it is really hard to make money on silver. I respectfully disagree.
Now, for someone who has lots of debt and can’t stomach a quick 20-30% loss, I agree the degree of difficulty is quite high. But for someone who doesn’t mind going against the crowd, isn’t saddled with debt, and has an appetite for risk (many talk a good game and later ask “Now what?” when things get tough), it is worth considering.
I have written in much more depth on this topic many times over the years- here and elsewhere.
Now, for someone who has lots of debt and can’t stomach a quick 20-30% loss, I agree the degree of difficulty is quite high. But for someone who doesn’t mind going against the crowd, isn’t saddled with debt, and has an appetite for risk (many talk a good game and later ask “Now what?” when things get tough), it is worth considering.
I have written in much more depth on this topic many times over the years- here and elsewhere.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
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Re: Trap Door Opens for Silver
by pennypicker » Sun Jan 10, 2021 7:10 pm
My thinking is that many are pulling their money out of PM's and buying Bitcoin due to its astronomic gains recently...and frankly I don't blame those who do.
"If I had to pick one player to take the last shot to win the game I would pick Michael Jordan...if I had to pick one player to take the last shot to save my life I would pick Larry Bird"--PAT RILEY, L.A. Lakers Head Coach
"I'd rather play against Michael Jordan than Larry Bird...Jordan made you look bad but Bird made you look stupid!"--JAMES WORTHLY, Laker Hall-of-Famer
"I'd rather play against Michael Jordan than Larry Bird...Jordan made you look bad but Bird made you look stupid!"--JAMES WORTHLY, Laker Hall-of-Famer
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Re: Trap Door Opens for Silver
by Cu Penny Hoarder » Wed Jan 13, 2021 12:44 pm
pennypicker wrote:My thinking is that many are pulling their money out of PM's and buying Bitcoin due to its astronomic gains recently...and frankly I don't blame those who do.
NEVER... underestimate the popular delusions and madness of crowds.
Time is precious, stop wasting it.
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Re: Trap Door Opens for Silver
by pennypicker » Fri Jan 15, 2021 11:27 am
Cu Penny Hoarder wrote:pennypicker wrote:My thinking is that many are pulling their money out of PM's and buying Bitcoin due to its astronomic gains recently...and frankly I don't blame those who do.
NEVER... underestimate the popular delusions and madness of crowds.
Well Said!!!
"If I had to pick one player to take the last shot to win the game I would pick Michael Jordan...if I had to pick one player to take the last shot to save my life I would pick Larry Bird"--PAT RILEY, L.A. Lakers Head Coach
"I'd rather play against Michael Jordan than Larry Bird...Jordan made you look bad but Bird made you look stupid!"--JAMES WORTHLY, Laker Hall-of-Famer
"I'd rather play against Michael Jordan than Larry Bird...Jordan made you look bad but Bird made you look stupid!"--JAMES WORTHLY, Laker Hall-of-Famer
-
pennypicker - 1000+ Penny Miser Member
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- Joined: Sat Nov 27, 2010 11:34 pm
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Re: Trap Door Opens for Silver
by hirbonzig » Fri Jan 15, 2021 6:45 pm
Cu Penny Hoarder wrote:pennypicker wrote:My thinking is that many are pulling their money out of PM's and buying Bitcoin due to its astronomic gains recently...and frankly I don't blame those who do.
NEVER... underestimate the popular delusions and madness of crowds.
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one. “
Charles Mackay
“Someone’s gonna have to go back and get a sh*t load of dimes.”
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Re: Trap Door Opens for Silver
by Recyclersteve » Tue Jan 19, 2021 3:05 am
pennypicker wrote:Cu Penny Hoarder wrote:pennypicker wrote:My thinking is that many are pulling their money out of PM's and buying Bitcoin due to its astronomic gains recently...and frankly I don't blame those who do.
NEVER... underestimate the popular delusions and madness of crowds.
Well Said!!!
+1
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
- Recyclersteve
- Too Busy Posting to Hoard Anything Else
- Posts: 4632
- Joined: Sun Jan 20, 2013 5:59 am
- Location: Where I Want To Be
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