I am thinking of diving into it. Any thoughts?
To paraphrase Marc Faber: We're all doomed, but that doesn't mean that we can't make money in the process. Rabbi Lapin: "Let's make bricks!" Stephan Kinsella: "Say you and I both want to make a German chocolate cake."
Btw, anyone know of any dealers with premiums lower than APMEX.com or Kitco.com?
Just to give another perspective because I like point and figure.
http://stockcharts.com/def/servlet/SC.pnf?c=%24SILVER,P
What does it mean?
Or how about buying SLV:
Time is somewhat irrelevant in p&f charts. The moving trend of the assett is charted 0s for downward and Xs for upward movement. So the trends are represented a bit differently in these charts. I just wanted to point you, and others here, to the differences these charts show and away from some of the noise that daily charts can show. It does show a recent downward trend, as other charts show, and it seems to be pushing its trend line lower. I can't tell you to buy or not buy here.
Edited to add that its PO is at 25. Read into this what you will.
I see. I was not pointing out the shape of the chart, but the current price of silver. I wonder if silver will end up down for the year.
What do you make of these?
Also, there hasn't been a mania in silver yet, but I wonder what the next couple of years will bring. A repeat of 2011, in which silver hit $50. Maybe it will go to $70 or $120 in a mini bubble. This what I want to buy silver for.
I don't think it is necessary to rely on past performance. Trying to spot recent trends is where I believe you can make your gains and minimize your loses. It could very well finish down on the year but to me the end of the year is just another day. This could be something you would hold onto for medium to long term for gains. And with a bearish PO to 25 looks like you could possibly wait out purchase if so inclined.
I would not mind buying some now and then having it drop to $25 in the next few months if within the next couple years there is a mini bubble that reaches into $70 to $120. I simply did not like the price when it was between $31 and $34.
Also, I expect a panic next year, but I want to know if people are going to rush into the dollar and/or other currencies or into PMs. I would guess PMs if the panic is because of some war between the USA and [enter country here].
Only buy physical. Both GLD and SLV are paper, and almost certainly rigged.
Clayton -
There is a head and shoulders pattern in the dollar that's been forming since the beginning of the year:
Likewise during the same period, there is an upside down head and shoulder pattern in the Euro:
If the trend follows recent history, commodiites and metals should soon go up in this situation.
Relative to what, Euro or dollar? Or both?
Both. And also relative to stocks.
Silver's supply is immensely low at the moment, lower than gold's even, at somewhere around 300m onces from what I recall. Demand for it hasn't really gone anywhere, and unlike gold, a lot of its supply is incidental, i.e. created when extracting other resources. So I think there's a good chance that low supply coupled with steady demand will see it increase in price, perhaps at an even faster pace than gold in time. It still doesn't have the allure gold possesses, though, nor the chance of being converted back into a form of money.
Freedom of markets is positively correlated with the degree of evolution in any society...
Over the last ten years, metals have generally moved (though not always) in the opposite direction of the dollar. The dollar and Euro have basically been mirror images of each other as they have moved in the exact opposite direction.
However, in the above charts, I've just noticed something. I see a large upside down H&S in the dollar that's formed between Nov `10 and Nov `11. And vice-versa for the Euro. So it's ambigious. It's hard to tell what the next move will be.
Those interested in the metals market might be interested to hear about this guy:
http://en.wikipedia.org/wiki/Andrew_Maguire_(whistleblower)
I think it would be a mistake to presume that big banks can't throw their weight around in small markets, especially if they're acting in concert and employing trading algorithms.
The Anarch is to the Anarchist what the Monarch is to the Monarchist. -Ernst Jünger
Oh snap! Oh snap!
Time to buy more
digit-savvy savers are dumping silver to make room for bitcoins.
<blink>It closed at $25.85!!!!!</blink>
buy, I guess.
Who's to blame for Friday's huge gold sell-off? Well, the European Central Bank President Mario Draghi of course - According to Vince Lanci, Draghi directed comments at Cyprus during a press conference earlier today, and his message was quite clear: sell your gold, or you won't see any of that bailout/ rescue money.
I get mine from JM Bullion. They have the lowest prices online.
That's perfect! Goldman Sachs predicts a drop in gold and then Mario Draghi of Goldman Sachs forces banks to sell gold. I wonder who is on the buy side of gold: Goldman Sachs?
That's exactly what Peter Schiff was saying.
Sauce?
His radio show. I heard it on one of the podcast shorts (20 min excerpt) today, though it might have been from yesterday's show.
Speaking of Schiff, this blows bitloin right out of the water: https://www.youtube.com/watch?v=0cNwaA5sNr8 Alternative currency for guys who don't wear their sister's pants.
I think Schiff first talked about the GS gold manipulation with that jerk Paul Craig Roberts.
^ Broken image source.
<blink>It's down about a dollar!!!</blink>
Kennecot mine in UT collapsed a little. http://silverdoctors.com/10-of-us-annual-silver-supply-just-vaporized/
HabbaBabba, how does an easily-divisible gold card blow Bitcoin out of the water? One is physical, the other online.
One is a pathetic joke, the other has 6000 years of history.
OK, but how would you use a little rectangle of gold to buy something online? Mail it to them?
It's like you've never heard of banknotes or credit.
Sure, why not? Stamp is 40 something cents, what's a bitcoin this hour/minute/second, 103? Of course, that's stupid since, I have USD which online vendors I buy from accept, so I'd actually be going out of my way to use anything other than just simply... USD.
^ That too.