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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Bottom Finally In For Silver? [Re: Adden]
#22415183 - 10/21/15 07:09 PM (8 years, 3 months ago) |
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Quote:
Dys said: I don't know how many times I have to unsubscribe to APMEX to stop getting spam. Every day when I wake up (pacific), I'll have 3-5 emails if silver +/-'d ten cents.
It's probably going to do 10/800 is still my guess before it gets better.
Now I'm hearing nagging from the wife that 7% of our holdings are in metals. I'm willing to risk 7%. 
How you guys holding up? Even my coin collection is collecting dust, but dust eventually means money.
Traditionally gold/silver should be 5-10% in a diversified investment portfolio as both a hedge against inflation but more importantly against disaster. Physical silver in particular is in hot demand again and when/if the Comex "runs out" and/or this banker gold manipulation scheme busts loose your wife will be thanking you for holding onto that much.
Having said that I do think oil leads the way lower and the metals being a commodity have another leg down. They've all had about a 10% bounce over where I considered a good buying opp, specifically silver mid 14s, gold under 1100, platinum under 900, and palladium 530. Palladium in particular at 700 recently seems very overbought. I want to buy it at 440 area! Silver I think you can buy right now and keep buying if you are a "new buyer", don't buy it all at once, buy more if it goes down instead of "getting down" about your "loss". Because eventually silver is going to shine!
-------------------- Anxiety is what you make it.
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zorbman
blarrr



Registered: 06/04/04
Posts: 5,952
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
#22415508 - 10/21/15 08:15 PM (8 years, 3 months ago) |
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Quote:
... and the metals being a commodity have another leg down.
Agreed. I'm sort of suprised they've held up as long as they have. I don't have a chart at hand, but it seems like they've been in a tight trading range for a very long time. A tightly coiled spring suggests a strong move up or down. I'm like you. I think the break will be down until you have capitulation. Everyone long just throws in the towel and we finally bottom.. setting the stage for a MONSTER rally..
-------------------- “The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.” -- Rudiger Dornbusch
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: Bottom Finally In For Silver? [Re: zorbman]
#22516599 - 11/13/15 01:39 AM (8 years, 2 months ago) |
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Appears all metals managed to shit the bed this week.
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thescientist
Registered: 03/09/02
Posts: 807
Loc: Dade County
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Re: Bottom Finally In For Silver? [Re: Adden]
#22516663 - 11/13/15 02:48 AM (8 years, 2 months ago) |
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Oil is at $42 with no hope on the horizon.
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: Bottom Finally In For Silver? [Re: thescientist]
#22516679 - 11/13/15 03:04 AM (8 years, 2 months ago) |
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And it's gonna be for a long, long time. I think America would rather let half the states fall into sinkholes from fracking before oil goes back. We've also found areas of sweet oil outside of war zones. Why have crude when you can have sweet?
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Bottom Finally In For Silver? [Re: Adden]
#22516747 - 11/13/15 04:20 AM (8 years, 2 months ago) |
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Quote:
Dys said: Appears all metals managed to shit the bed this week.
metals will really shit the bed next month when yellen tightens amid further EU & AZN monetary x-laxing
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Bottom Finally In For Silver? [Re: thescientist]
#22516748 - 11/13/15 04:20 AM (8 years, 2 months ago) |
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Quote:
thescientist said: Oil is at $42 with no hope on the horizon.
Hey where have you been? I missed our tussles. Where should I rebuy palladium? 525? 440?
TIA.
-------------------- Anxiety is what you make it.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Bottom Finally In For Silver? [Re: memes]
#22516749 - 11/13/15 04:22 AM (8 years, 2 months ago) |
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Quote:
memes said:
Quote:
Dys said: Appears all metals managed to shit the bed this week.
metals will really shit the bed next month when yellen tightens amid further EU & AZN monetary x-laxing
Markets gonna explode upside when they go NIRP instead.
-------------------- Anxiety is what you make it.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Bottom Finally In For Silver? [Re: Adden]
#22516752 - 11/13/15 04:26 AM (8 years, 2 months ago) |
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Quote:
Dys said: And it's gonna be for a long, long time. I think America would rather let half the states fall into sinkholes from fracking before oil goes back. We've also found areas of sweet oil outside of war zones. Why have crude when you can have sweet?
Watch you mouth, mister. Yeah what happened to "Peak Oil"? Bwahaha.
The main concern for us is that they screwed us at the pump for so long with that expensive crude, that we think we got it good under $3 a gallon. I remember 12 freaking cents a gallon, they checked your oil, cleaned your windshield, aired up your tires, and looked happy doing it.
-------------------- Anxiety is what you make it.
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thescientist
Registered: 03/09/02
Posts: 807
Loc: Dade County
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
#22516800 - 11/13/15 05:19 AM (8 years, 2 months ago) |
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Quote:
Dys said: And it's gonna be for a long, long time. I think America would rather let half the states fall into sinkholes from fracking before oil goes back. We've also found areas of sweet oil outside of war zones. Why have crude when you can have sweet?
Where are the areas of sweet you refer to, specifically?
Quote:
LunarEclipse said:
Quote:
thescientist said: Oil is at $42 with no hope on the horizon.
Hey where have you been? I missed our tussles. Where should I rebuy palladium? 525? 440?
TIA.
Let me guess... you sold on the exact top and are waiting to buy back in at the exact bottom?
Once the price has rebounded, let us know where you got back in.
peak oil is playing out. The real cost of production is catching up. Production in higher input reserves is plummeting. Exploration and development of high input reserves are dead.
Metals will stay low low low, unless there are major paper shake ups. Fundamentals should see gold continuing to slide.
Which previous high did you off load your metals at?
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Bottom Finally In For Silver? [Re: thescientist]
#22516813 - 11/13/15 05:26 AM (8 years, 2 months ago) |
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The past is gone. I sold at higher prices on the palladium, but telling you what those were just opens me up to your scorn.
Have you been eating too much corn?
-------------------- Anxiety is what you make it.
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Asante
Mage


Registered: 02/06/02
Posts: 86,796
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
#22537410 - 11/17/15 12:41 PM (8 years, 2 months ago) |
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I liked this video and the motivational message it brings.
Stop thinking in terms of paper, think in terms of metal. Price dips are buy opportunities.
-------------------- Omnicyclion.org higher knowledge starts here
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: Bottom Finally In For Silver? [Re: Asante]
#22540364 - 11/18/15 04:32 AM (8 years, 2 months ago) |
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I'm wondering if $7 silver is possible.
I'm waiting for it to drop below ten before I start buying.
-------------------- KRAMER CAKES


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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Quote:
george castanza said: I'm wondering if $7 silver is possible.
I'm waiting for it to drop below ten before I start buying.
Dropping yet another 50% on silver seems a bit unlikely. You may see 12s but I am doubtful of single digits again.
-------------------- Anxiety is what you make it.
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Asante
Mage


Registered: 02/06/02
Posts: 86,796
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$7 silver is quite possible. Unlikely but quite possible. If it happens suddenly your bullion dealer will pretend hes sold out until the price is up again, like happened with Palladium.
If you look at the gold/silver ratio that is common though, the counterpart of $7 silver is $500 gold.
$7 silver is $500 gold
*gets a kleenex*
I'd be very happy when that happens
-------------------- Omnicyclion.org higher knowledge starts here
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Bottom Finally In For Silver? [Re: Asante]
#22540585 - 11/18/15 06:51 AM (8 years, 2 months ago) |
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Quote:
Asante said: $7 silver is quite possible. Unlikely but quite possible. If it happens suddenly your bullion dealer will pretend hes sold out until the price is up again, like happened with Palladium.
If you look at the gold/silver ratio that is common though, the counterpart of $7 silver is $500 gold.
$7 silver is $500 gold
*gets a kleenex*
I'd be very happy when that happens
Yep, and oil will be back to $15 a barrel, gasoline $1.4999 a gallon, and houses worth 1/2 what they are now...
It's called a DEPRESSION.
Still happy?
-------------------- Anxiety is what you make it.
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Asante
Mage


Registered: 02/06/02
Posts: 86,796
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
#22541546 - 11/18/15 11:53 AM (8 years, 2 months ago) |
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Oil will never be back to $15 a barrel.
The houses were in a bubble.
-------------------- Omnicyclion.org higher knowledge starts here
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Bottom Finally In For Silver? [Re: Asante]
#22542748 - 11/18/15 04:30 PM (8 years, 2 months ago) |
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Quote:
Asante said: Oil will never be back to $15 a barrel.
The houses were in a bubble.
Houses are still in a bubble, and the economy is actually far worse than it was back before the last crash.
There's so much oil, they barely have any place to store it. Not such a problem with silver. The global agenda will be taxing the fuck out of oil soon, and also limiting its use. So, you may be paying based on 50 buck oil at the pump, but it will still be costing 8-10 bucks a barrel to suck it out of the sand in Saudi Arabia and Iraq.
-------------------- Anxiety is what you make it.
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: Bottom Finally In For Silver? [Re: Asante] 1
#22542862 - 11/18/15 04:55 PM (8 years, 2 months ago) |
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Gas is down to $1.78 in my neighborhood.
I have been watching the price of silver very closely these past few months. And not so closely for the past few years.
Whenever silver got close to $50 I was one of those people saying to myself " Damn, I could have bought in at just over $5 and made 8 or 9 times my money back in profit. So I started watching silver a little more closely and reading up on the subject as well.
There was a time not too long ago that some folks were saying that silver wouldn't fall below $20. I figured when it did drop below 20 that would be a good time to buy. As fortune would have it right when silver dipped below 20 here comes one of my friends with a few 1989 maple leaves to get rid of. I checked the price of silver and was happy to take them off of his hands.
I kept a closer eye on the price of silver and noticed that the price was only moving sideways and down. Fast forward to silver dropping below 15 and I started to get a little excited about it.
I started telling my friends and relatives that if they had any extra cash now would be a good time to buy silver. I was looking around trying to figure out how I was going to get in myself.
I really didn't want to buy more maples or silver eagles because paying a $5 premium on a $15 coin just seems a little too high of a mark up. Starting out 5 dollars in the hole for every 15 invested just didn't feel prudent.
So like I said I had been telling everyone to buy silver. Well here comes my cousin over to my place with a roll of silver coins. He said hey since you have been harping about silver for the past couple of months I figured you would want to buy these.
I took a look at what he had and it appeared to be a roll of uncirculated Morgan silver dollars. One of the coins had a little wear on it but the rest were really very shiny.
He told me he had been working for this guy and when he finished the job the guy asked him if he wanted a check or some silver coins. Since I had been talking up silver my cousin said he would take the silver and the guy gave him $18 credit per coin. I told him that I would buy them from him at whatever price he could sell them for at the pawn shop be it more or less than the $18. We took them down the street and the first guy wanted to give us ten bucks each for them which wasn't even melt price. I looked on the internet and found out that an average au coin of that type was selling for an average of 32. So we decided to drive out to the nicer area and see what the coin shop would pay for them.
We got in the coin shop and the guy ask how much I wanted for them, I ask how much he would give, the guy again ask how much I wanted. Since I had no intention of letting him buy them anyway I figured I would throw out a $20 figure and let him talk me down a dollar or two so my cousin could still get his wages back out of them.
As soon as I said twenty this guy was like "done!" And ran over to the cash register to get my money. I told him to hold up there just a second because he went for the twenty way too fast.
He told me he was going to offer me 20 for them anyway. I ask him how much would he sell them back to me for? He quickly said he would sell them back at 25. I then ask him if he had any dollars like that for sale at 25. He said sure he did. I ask if I could see one.
This joker breaks out an old worn out Morgan that you can barley read the date on and said that it was just as good as the ones I had and then directed my attention to a cc Morgan he had that he said was worth 500 because of the mintmark.
When I explained that I was not selling the coins but was in fact buying the coins and didn't want to pay more than I could get for them. He said that I could bring them back any time and he would gladly take them for $20. I have since learned that to maximize my profits I would have to pay to have the coins graded and then sell them at auction.
Anyhow over the past 3 months I've bought quite a few of these coins. I have also been studying silver as well as coin collecting.
At some point I think I will have a roll or two of these coins graded and start selling them off. If I get just a few higher graded coins out of the lot, I will make a nice profit on this venture.
It sure has been a fun learning experience for me and i am sure i will enjoy my new hobby for years to come.
I do believe that silver will continue to gently fall sideways while I feel that gold is still way too high and I wouldn't be surprised to see $500 oz of gold within a couple years and silver settling at 8 or lower before we get another run at the $50 oz.
I may even be a little deeper into these Morgans than I should have went, but I really feel like I have made a solid investment.
I'm going to try and save some cash now so I will be ready to start buying when silver gets back to single digits.
Thanks for reading and as always, happy shrooming
-------------------- KRAMER CAKES


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Asante
Mage


Registered: 02/06/02
Posts: 86,796
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The Gold/Silver ratio is about 75, which either means silver will tend up or gold will tend down.
Silver is very close to production cost though, even though 60-70% of silver is a byproduct of copper mining its getting close to a break even.
-------------------- Omnicyclion.org higher knowledge starts here
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