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Gold and silver. Discuss - Page 16

post #226 of 289
Heh figured it was pretty obvious from all my trolling, I don't trust the Fed (to put it veryyyyy lightly).

We already have inflation (see food and energy prices), and I'd be very surprised to see them tighten up by raising rates.

Hell I'm not convinced we won't have a QE3 either, they'll just call it something else, or not disclose it period.
post #227 of 289
Looks like this "downturn" didn't even last long enough for me to add any more. Oh well! Maybe we should bounce off 50 again, shaking weak longs from the tree is never a bad thing for long term holders. At least give me a chance to add more under 50
post #228 of 289
I played the pool account. I sold at just over 49 and bought back in at 45.90. A pool account is good for playing the spikes. There is some things that physically holding is not good for.
post #229 of 289
Do you guys think we will see a big correction, like everyone is talking? Im considering selling 50% of my holdings, as Im up 50%- but then I think I should just hold it all and ride the ups/downs...
post #230 of 289
Doubt it but ya never know. Holding onto my bullion, but if I had an EFT instead, I'd be taking profits right now, and paying more attention to the charts.
post #231 of 289
Quote:
Originally Posted by javyn View Post
Doubt it but ya never know. Holding onto my bullion, but if I had an EFT instead, I'd be taking profits right now, and paying more attention to the charts.

That statement could apply to the Gold/Silver ratio too.

As you know it had been very high till the last year or so till Silver has way outperformed Gold the last year.

I noticed that as I type this, Gold is rising higher than Silver today which has been rare. But that can easily change in a few hours.

Let us see which does better today at market close.

I am another one that agrees $100 Silver/Oz is a lot more likely than $2,000/Oz Gold.
post #232 of 289
I see 100/oz silver easy. As far as corrections and pullbacks, well, try to time it if you want. I'm terrible at that. I've been buying under 50 and now holding. I'll just say this, don't put too much faith in stochastics or RSI since this baby is trending, not channeling.
post #233 of 289
Quote:
Originally Posted by javyn View Post
I see 100/oz silver easy. As far as corrections and pullbacks, well, try to time it if you want. I'm terrible at that. I've been buying under 50 and now holding.

I'll just say this, don't put too much faith in stochastics or RSI since this baby is trending, not channeling.

Agreed, as I said.

But here are other questions.

Do you, or Crane, or whoever see $2,000/Oz Gold anytime soon?

And you have to admit there is always some correlation of Gold to Silver.

If Gold were to fall back under $1,000 Oz ( very unlikely ), then it would be hard to see Silver not plunging.

It comes down to. Where do you see the Gold/Silver price ratio settling at? It was as high as 63 and now is about 31.
post #234 of 289
I honestly have no idea where it will settle. I have a feeling it wont settle, it'll go parabolic and then come down hard in a few years when the Fed raises rates. Just a feeling based on nothing but my ass. Also, I think gold has some catching up to do. I think gold will go up, rather than silver go down, to bring the ratio back into line. Silver just moved first, and moved big b/c it's cheaper for small investors, and far more volatile than gold. JMHO. Gold has broken into new highs, so there is no resistance anymore b/c no one has ever owned it this high. 2k an ounce cold be on the low side. Who knows? Once silver takes out the nominal 50 high, ditto it too. I may not know for sure, but I'm fairly certain enough to put my ever debasing fiat money where my mouth is. edit: I do know this for sure though, people who are calling tops and bubble need to have their heads examined. No way no how could metals be in a bubble, with less than 2% of Americans buying bullion. This isn't like the dotcom or real estate bubbles at all. As much as I'd like to see a pullback, and gradual trend, it just doesn't seem like one is coming. As soon as the price drops a few bucks....people go nuts buying it up. If there is a pullback or a correction, IMO it will be paper only, and just force premiums on physical bullion to go insane. Again, just talking out my ass here, but when I've got these feelings and acted on them, it's worked out well for me. edit 2: Also, don't discount the viral internet campaign to "bring down JPM" by buying physical silver, started by Max Keiser and Troy James. With above ground supply so scarce, this kinda thing makes a big difference. <3 Max Keiser
post #235 of 289
What the heck is up today, all other PM are up like 2%...silver is down
post #236 of 289
What are you trying to do Mike? What are you holding? Get yourself a book on technical analysis if you want to trade the channels these ETFS are bouncing off of.

If you are holding bullion, buy GLD puts or go long ZSL to hedge if you are worried. (I say GLD b/c I'm imagining SLV puts are outrageous right now w/ this volatility)
post #237 of 289
Im just holding physical silver right now, not intention to try to trade. I just gets antsy, and need to realize that things will be good..well even better by year end. I just read too many forums, and always see them talking about this huge correction we are going to get. Just need to remember all the reasons that I got into silver, and then Ill be okay!
post #238 of 289
Best advice I can give man is listen to and trust yourself above all others.
post #239 of 289
I have to say, hearing all of the bullishness on silver in this thread makes me think i should short it. experience says whenver everyone is yelling buy tech stocks, buy houses...you should run for the hills or short if you have teh cojones.......

I think silver is a good long term investment but to think its just going to keep running to 100 is pretty crazy when its had a tough time maintaining / going over 50 in over 30 years....

and javyn i hear what you are saying, no one really knows (i certainly dont have a clue)

there may not be "a bubble" but its a commodity so doesnt really need a bubble for the bottom t odrop out
post #240 of 289
I don't understand why so many people are panicking, this was still a positive week. We've been having 2-4% gains very often, but you can't expect it to happen every day or week. I personally am just riding it out.
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