So you're saying there's a chance for silver to be back around $18/oz?
That really scares me. That'd be a 50% loss on my investment (which I thought was a pretty sound investment)
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InvisibleshLong
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Re: Silver takes a beating [Re: shLong]
#17471011 - 12/30/12 03:30 PM (1 month, 12 days ago)
I figured it'd be a wise choice buying "Ag" instead of letting it gain no interest in my savings account.
I really don't know shit about what to do with my money.
It is 'fun' having physical precious metals, though :smile:
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InvisibleGilgamesh18
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Re: Silver takes a beating [Re: LunarEclipse]
#17471274 - 12/30/12 04:15 PM (1 month, 12 days ago)
Quote:
LunarEclipse said:
Quote:
shLong said:
Yeah, I only deal with physical silver.
I have some bars, and Morgan/Peace dollars. I currently only have about 11-15 oz with another $300 worth of assorted US silver currency in transit to me at the moment.
Yeah not a bad time to buy. Let's look at some technical charts, shall we?
http://www.kitco.com/charts/techcharts_silver.html
Real support is around $27. I would expect it to hold, BUT if this "fiscal cliff" stuff or tax increases or the US Dollar really strengthens and the euro takes a dump we can clearly see next meaningful support for silver on the five year chart is around $18 an ounce...
Even if it falls to 18 an ounce the premiums might be like an 10 bucks an ounce due to shortages I see no reason to worry.
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OfflinegeokillsA
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Re: Silver takes a beating [Re: Gilgamesh18]
#17471333 - 12/30/12 04:26 PM (1 month, 12 days ago)
Quote:
Gilgamesh18 said:
Even if it falls to 18 an ounce the premiums might be like an 10 bucks an ounce due to shortages I see no reason to worry.
That's some downright wishful thinking right there. Sounds like you're making a case for a no-lose situation, and in this life, those don't exist my friend.
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InvisibleLunarEclipse
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Re: Silver takes a beating [Re: geokills]
#17471554 - 12/30/12 04:58 PM (1 month, 12 days ago)
Quote:
geokills said:
Quote:
Gilgamesh18 said:
Even if it falls to 18 an ounce the premiums might be like an 10 bucks an ounce due to shortages I see no reason to worry.
That's some downright wishful thinking right there. Sounds like you're making a case for a no-lose situation, and in this life, those don't exist my friend.
Yeah that makes no sense I agree. I really don't think it will drop back to $18 but maybe $20. Looking at that chart if it does go below about 26.80 and gets rolling to the downside it will be look out below. It's volatile and emotional and at that point it won't take long. The difference this time is that the "real" fundamentals seem better than ever for silver and let's not forget it's off of almost $50 an ounce so about a 50% correction from the high. Follow the US Dollar if it really gets strong silver has no way to go but down.
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InvisibleGilgamesh18
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Re: Silver takes a beating [Re: LunarEclipse]
#17471995 - 12/30/12 05:57 PM (1 month, 12 days ago)
Well ill just buy even more if it falls I can't lose
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InvisibleShins
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Re: Silver takes a beating [Re: Makaveli]
#17472269 - 12/30/12 06:48 PM (1 month, 12 days ago)
Quote:
Makaveli said:
Don't destroy JPM. I like my job :smile:
wow. how do you sleep at night?
