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Silver up .60 already. $43.19/oz

Started by Kamillion,

35 posts in this topic

jtryka

jtryka

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Posted

Well, it isn't up 0.60 since we closed Friday at $43.05, but we are up a quarter at $43.30 on Kitco right now...

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Kamillion

Kamillion

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Well, it isn't up 0.60 since we closed Friday at $43.05, but we are up a quarter at $43.30 on Kitco right now...

 

ya i dont know why it says that either. but silver futures are up .71 now new high of the day for silver. $43.365 :grin::grin:

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dleonard-3

dleonard-3

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Prices aren't going up as fast as the value of the U.S. dollar is falling (like a rock). As the U.S. paper dollar keeps losing value, we are all taking a major cut in pay. I'm tempted to trade all of my U.S. paper money for toilet paper................

 

at least toilet paper is soft and of some value at times.......

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Kamillion

Kamillion

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44.275 already . wooohooo

 

see, everyone will just pay $50 to round it off. thats why we will be 50 in no time. and over due to fundamentals. its all gravy.

 

 

cash is worthless

 

Prices aren't going up as fast as the value of the U.S. dollar is falling (like a rock). As the U.S. paper dollar keeps losing value, we are all taking a major cut in pay. I'm tempted to trade all of my U.S. paper money for toilet paper................

 

at least toilet paper is soft and of some value at times.......

 

lol

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Kamillion

Kamillion

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We are in a bubble. Like all bubbles, people are going crazy. Like all bubbles, it will pop and lots of people will loose lots of money.

 

bubble ? lol.

 

you got a lot to learn...

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Old Pueblo

Old Pueblo

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We are in a bubble. Like all bubbles, people are going crazy. Like all bubbles, it will pop and lots of people will loose lots of money.

Yes, I agree. But as long as the Fed keeps printing money that is losing value, gold and silver will remain attractive to large institutions and governements.

 

Trim your positions in SLV and GLD

 

 

OP

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Kamillion

Kamillion

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We are in a bubble. Like all bubbles, people are going crazy. Like all bubbles, it will pop and lots of people will loose lots of money.

Yes, I agree. But as long as the Fed keeps printing money that is losing value, gold and silver will remain attractive to large institutions and governements.

 

Trim your positions in SLV and GLD

 

 

OP

 

how do you think the people that trimmed silver at 20 and gold at 1,000 feel?

 

this is tip of the iceberg. no bubble whatsoever, has nothing to do with a bubble. bubbles have no fundamental backing. silver's ratio to gold has a long way to go. cash becoming worthless. silver can easily see 100.

 

i would hold some of both as long as possible. they arent going down any time soon. summer is seasonally weak, after summer we will be very strong imo.

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Kamillion

Kamillion

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china is buying silver like there is no tomorrow.

 

jpm lifted their shorts on silver.

 

sky is the limit at the rate we are going lately due to inflation.

 

the rise lately is 100% inflation based- not even technical based.

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Old Pueblo

Old Pueblo

Posted
Posted
We are in a bubble. Like all bubbles, people are going crazy. Like all bubbles, it will pop and lots of people will loose lots of money.

Yes, I agree. But as long as the Fed keeps printing money that is losing value, gold and silver will remain attractive to large institutions and governements.

 

Trim your positions in SLV and GLD

 

 

OP

 

how do you think the people that trimmed silver at 20 and gold at 1,000 feel?

 

this is tip of the iceberg. no bubble whatsoever, has nothing to do with a bubble. bubbles have no fundamental backing. silver's ratio to gold has a long way to go. cash becoming worthless. silver can easily see 100.

 

i would hold some of both as long as possible. they arent going down any time soon. summer is seasonally weak, after summer we will be very strong imo.

If I had made a profit at 20 per oz then I would be happy. My suggestion is based on the idea hogs get slaughtered, I sold a precentage of my SLV position that had more than doubled with cost basis below 17, extracting nearly my full initial investment. I too think metals have room to run, but it's never a bad Idea to take profits.

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x2rider

x2rider

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The good thing about it is that while your dollar is falling like a stone , ours is going up . While it is a bummer if I wanted to sell any of my collection that I bought a while ago , It does make it a lot cheaper to buy in the states now than it has been which is good :)

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physics-fan3.14

physics-fan3.14

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this is tip of the iceberg. no bubble whatsoever, has nothing to do with a bubble. bubbles have no fundamental backing. silver's ratio to gold has a long way to go. cash becoming worthless. silver can easily see 100.

 

i would hold some of both as long as possible. they arent going down any time soon. summer is seasonally weak, after summer we will be very strong imo.

 

Funny thing is, that's exactly what everyone thinks during every bubble. Did anyone think real estate would ever go down? Did anyone think the tulip market would ever crash? Bubbles are a part of capitalism, and they've been going on for hundreds of years. Believe me, when I see an exponential trend on a chart like that silver chart OP posted, I see a classic bubble.

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SouthFlorida guy

SouthFlorida guy

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Silver is not in a bubble, nor is gold. It's investors fleeing to safety with the threat of inflation on the horizon, among other things. When the government eases out of QE2 (quantitative easing) inflation will kick in. Plus 2012 is an election year, and historically the stock market doesn't do well.

 

Silver, and gold will correct when the $DXY bounces. But the long term trend for metals is very bullish. Certainly silver can pull back to $30-35 sometime this year. But bargain hunters will step in around that price, and silver will start it's trend upwards once again.

 

You can't compare metals to the housing bubble, or the internet bubble of the late 90's. Completely different animals.

 

Would I buy up here? No. I've been rolling futures contracts since march '10. I still have 1/2 positions on both silver and gold. And since I'm playing with house money, I'll let this other half ride while I keep moving my stops up to lock in profits. I LOVE AMERICA! :-)

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jtryka

jtryka

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Damn! I knew I should have sold my Saint set when gold hit $850, it's surely a bubble...And I have my finger on the trigger when silver hits $50 because it could never go higher since it's in a bubble, despite the short squeeze and the fact that silver's inflation adjusted high is over $120 even using the government's obviously phony inflation numbers...no, I'd much rather have faith in super smart people like Ben Bernanke to actively manage our economy to grow to the stratosphere...

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jtryka

jtryka

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this is tip of the iceberg. no bubble whatsoever, has nothing to do with a bubble. bubbles have no fundamental backing. silver's ratio to gold has a long way to go. cash becoming worthless. silver can easily see 100.

 

i would hold some of both as long as possible. they arent going down any time soon. summer is seasonally weak, after summer we will be very strong imo.

 

Funny thing is, that's exactly what everyone thinks during every bubble. Did anyone think real estate would ever go down? Did anyone think the tulip market would ever crash? Bubbles are a part of capitalism, and they've been going on for hundreds of years. Believe me, when I see an exponential trend on a chart like that silver chart OP posted, I see a classic bubble.

 

Yeah, I worked for a home builder and called the bubble in 2006, and I still own no real estate. Perhaps I'll buy when I sell my silver for $200 an ounce and 10 ounces of gold will buy me a house...

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