Silver price about to plummet

[ManWithNoName]

2 hours ago, Moocher said:

Silver has steadily been decreasing in price on forums the last couple of months to the extent that Brits are now going for £13.80 on one site,initially I was not concerned  thought it was just a short blip but now I am not sure.Luckily I payed no more than £16  an ounce for my stacking silver with an average price of £14.55 overall.I know there are people who have payed a lot more and  they must be really concerned 

 

Unless you are stacking for Hedge/Retirement, and have 20 years to go.... 🙂

 

[Pete]

2 hours ago, Moocher said:

Silver has steadily been decreasing in price on forums the last couple of months to the extent that Brits are now going for £13.80 on one site,initially I was not concerned  thought it was just a short blip but now I am not sure.Luckily I payed no more than £16  an ounce for my stacking silver with an average price of £14.55 overall.I know there are people who have payed a lot more and  they must be really concerned 

 

Damage done - bought a shed load at over £30 per ounce but no point in heading to the woods to hang myself as I still want to see the conclusion of Brexit.

😎

[Wolfy]

Simple answer guys the price goes down the stack gets bigger 😁😁

[DarkChameleon]

52 minutes ago, Wolfy said:

Simple answer guys the price goes down the stack gets bigger 😁😁

Since silver has dropped my stack has almost tripled, my collecting has dropped and my pension has risen by almost 20%...if you're going to stack then don't overstack, if your going to sell the don't oversell...fear of losing out causes most people to buy or sell which is the reason they never get rich and usually only ever end up getting poorer or staying static, I recall buying shares in games top and was being shouted at from all angles as being stupid, sold those shares after two weeks or less going from 65p to 104p a share....and all those people got very quiet...don't listen to the naysayers, they never made a dime on anything because they were too afraid to take a bet to begin with, only a fool buys pm's to invest in then gets scared after only a few months or when their stack loses a few hundred in value.

[Moocher]

In it for the long haul now,if at 65 there is a long haul.When Bitcoin first came out I asked my friend if he fancied going £500 each he laughed at me  and  ended up talking me out of it.You would think at my age I would have learned to go with gut instinct.

 

[Wonger]

The next update should add weight to Silver being in bottoming territory right here with the next rally exceeding the February Highs. 😀 

[Moocher]

🙏🏻🙏🏻👍👀👅

[RacerCool]

The prices keep dropping.  I just ordered some rolls of dimes, and might have to grab a bit of gold before it goes back up again.

[Michal]

No bother just listen for POOP at S&P 

[DarkChameleon]

14 hours ago, RacerCool said:

The prices keep dropping.  I just ordered some rolls of dimes, and might have to grab a bit of gold before it goes back up again.

Too late...lol.

[Wonger]

The COT update has indeed confirmed a reversal in speculative futures positioning at the same level as the November Silver lows, expected target for this rally $17, Silver shorts just experienced a can of whoop ass being opened on them, another will be opened next week! 😀 

[STONE]

Wonger has left the building...

 

[STONE]

Ehhh, its more like this...

 

[vand]

I give credit where it is due, and TBF to Wonger he clearly made a good call when he started this thread, with silver having run up past $17, it then dipped down below $14.5 over the next 4 months.

That may be of interest for those whose main interest is trying to trade the wiggles, but for most people that is a recipe for an ulcer, and most of us should zoom out to a multi-year view, where his long term prognosis is still very questionable and (so far) very wrong.

 

[sixgun]

i see Elvis had a cape like Superman - unfortunately Wrong Wonger thought he was Superman too and tried to fly. We can guess what happened - all the King's horses and all the King's men couldn't put Wonger together again.

[DarkChameleon]

I'm hearing that silver should be going upto $17 while gold hovers where it is for a while...but talk of a currency war is around, that could put all deals in the air.

[HighlandTiger]

Don't you just love all the people who can predict the future. And yet with all that ability, they are still not billionaires. Don't give up the day jobs eh ?

[Ablist]

This has been the funniest thread all year. I’ve never heard of anyone getting wealthy off of short term trading of PMs, unless they were already wealthy and had a few mil to play the market. And even if they lost, they would still remain wealthy as their gamble would only be a small percentage of their portfolio. 

So why is the forum in a fuss?? None of you got rich these past few months, regardless of all this mental masterbation. PMs are not for poor people to try to get rich off of. They are for people with at least modest wealth that want to slowly earn more or have a hedge against loss. 

Flipping numismatics could get you wealthy, but you better have deep pockets to sit on tons of inventory,  with prices at retails levels, and be able to sit back and wait for the slow sales to come in reaping the large retail profits. So again if you can flip them like that, you are already wealthy. 

One of the biggest correlations to wealth is having a high income and spending less than you make. For people that actually want to get rich there’s an idea for you  Second to that is having a wealthy family that taught you good financial management from a young age and has had money set aside for you. 

Otherqise quit trying to get rich off of PMs if you only make 100k a year and you spend 100k. If you have credit card debt, a car loan, big screen TVs and iPhones on layaway, or financed - shouldn’t be buying PMs.

After you have your bases covered, only then can you start thinking about putting PMs away and you won’t care about these little shifts. If you stack enough gold. Say 1 million worth. Even if it goes down 50% you’ve still got half a mil. You’re still wealthy if you don’t have extravagant overhead.

This is a LONG money game. If you don’t have or understand LONG money, you should not be in it. IMHO that is.

[DarkChameleon]

2 hours ago, Ablist said:

This has been the funniest thread all year. I’ve never heard of anyone getting wealthy off of short term trading of PMs, unless they were already wealthy and had a few mil to play the market. And even if they lost, they would still remain wealthy as their gamble would only be a small percentage of their portfolio. 

So why is the forum in a fuss?? None of you got rich these past few months, regardless of all this mental masterbation. PMs are not for poor people to try to get rich off of. They are for people with at least modest wealth that want to slowly earn more or have a hedge against loss. 

Flipping numismatics could get you wealthy, but you better have deep pockets to sit on tons of inventory,  with prices at retails levels, and be able to sit back and wait for the slow sales to come in reaping the large retail profits. So again if you can flip them like that, you are already wealthy. 

One of the biggest correlations to wealth is having a high income and spending less than you make. For people that actually want to get rich there’s an idea for you  Second to that is having a wealthy family that taught you good financial management from a young age and has had money set aside for you. 

Otherqise quit trying to get rich off of PMs if you only make 100k and year and you spend 100k. If you have credit card debt, a car loan, big screen TVs and iPhones on layaway, or financed - shouldn’t be buying PMs.

After you have your bases covered, then you can’t start thinking about putting PMs away and you won’t care about these little shifts. If you stack enough gold. Say 1 million worth. Even if it goes down 50% you’ve still got half a mil. You’re still wealthy if you don’t have extravagant overhead.

This is a LONG money game. If you don’t have or understand LONG money, you should not be in it. IMHO that is.

 

Some people are using gold as a retirmentfiunds fund and to make money on the rises and buy on the falls is their way to jump a couple of stones on the path, it might not make them rich quickly but do it enough and it might add the equivalent of years of saving from a 40-50 year savings plan...buying full sovereigns at $80 equivalent made great deals for me now but selling them when gold was over $1700/oz and buying then back at $1300 would have given me a few years head start on profit...yes, one deal doesn't make millions unless it's tens of millions invested but small rises and falls and selling and buying can easily double your value over time...people buying hundreds of ounces of silver at $14.30 like a bunch of us did, backing the trucks up, are now almost $2 per coin in profit,we live for that when silver has barely moved in ages, gold going upto $1430 has made the day of people who put their pension money jn at under $1350, maybe they don't have 1000oz of gold but better to see your savings rise and not fall....too many panic when silver drops $1 an oz, give them their happy times when their stash rises $1000 in a week.

[Ablist]

4 minutes ago, DarkChameleon said:

 

Some people are using gold as a retirmentfiunds fund and to make money on the rises and buy on the falls is their way to jump a couple of stones on the path, it might not make them rich quickly but do it enough and it might add the equivalent of years of saving from a 40-50 year savings plan...buying full sovereigns at $80 equivalent made great deals for me now but selling them when gold was over $1700/oz and buying then back at $1300 would have given me a few years head start on profit...yes, one deal doesn't make millions unless it's tens of millions invested but small rises and falls and selling and buying can easily double your value over time...people buying hundreds of ounces of silver at $14.30 like a bunch of us did, backing the trucks up, are now almost $2 per coin in profit,we live for that when silver has barely moved in ages, gold going upto $1430 has made the day of people who put their pension money jn at under $1350, maybe they don't have 1000oz of gold but better to see your savings rise and not fall....too many panic when silver drops $1 an oz, give them their happy times when their stash rises $1000 in a week.

You pretty much said exactly what I just said. :)

[DarkChameleon]

3 minutes ago, Ablist said:

You pretty much said exactly what I just said.

I'm saying to let them have their day, we have had years of little movement, I know, I've been stashing since 1985 in England, I think a bunch of people almost broke the bank buying sliver at 14.30....they are now ju,ping for joy and can sell hopefully making thousands they didn't expect weeks ago...you are right that it takes money to make money, I suppose some could have leveraged and bought ETF's then they might have made serious money...some on here do online trading and might have made a rolex or two on trading, not a rolls Royce but a few billionaires made money trading up.

[Ablist]

I am always happy for people when they make money. They had money to invest. Made an investment decision, and are now reaping their rewards. 

Dont let this recent shift ... down (a few months ago) ... , ... or up (this past few days) ... set a precedent. Because it’s not one. I agree with all you are saying: however I just call this type of thing “luck”. Windfall gain. A savvy investor it makes not.

[Ablist]

Keep in mind one had to sell to reap the profits. Otherwise this is just paper money. It’s all theoretical until actualized. How many people actually bough at $14 usd. Even if it was 1000 ounces... and are now selling at $16.25  usd. And after paying their shipping, insurance and premium are actually making money off of a $2 shift in the past 90 days. Not to mention their marketing or advertising fees. Their eBay fees. And then after that their capitol gains tax or whatever may pertain to their country or jurisdiction:

Yawn. I think not.

I’m  calling BS.

End of story. 

[DarkChameleon]

1 hour ago, Ablist said:

Keep in mind one had to sell to reap the profits. Otherwise this is just paper money. It’s all theoretical until actualized. How many people actually bough at $14 usd. Even if it was 1000 ounces... and are now selling at $16.25  usd. And after paying their shipping, insurance and premium are actually making money off of a $2 shift in the past 90 days. Not to mention their marketing or advertising fees. Their eBay fees. And then after that their capitol gains tax or whatever may pertain to their country or jurisdiction:

Yawn. I think not.

I’m  calling BS.

End of story. 

I bought a bunch, added1/3 to my stash at 14.30, we were all over it, some panicked and thought it was doom n gloom while a lot were running and buying with everything they had...they could buy and sell on here there were no worries about a lack of buyers and sellers...as for selling now, they can sell here too for about spot with no commision being charged by tsf....offer 20 lot of generics or eagles or brits on here and see how long they take to buy them, ask for spot...finding buyers isn't a problem.

[vand]

The wealth is made over the long term when you can sit on your hands a ride a bull market up. Being long silver in a gold bull market is like being long tech stocks in an equities bull market. It will magnify the overall return, but it may well lag in the early part of the bull when investors are more cautious and go to the more recognised and less volatile variant. Past PM bull markets have seen gold return 500%+ and silver roughly double that. I have no reason to expect the next one will be much different.. No one will catch the very top or the very bottom, and neither should you try. Do most of your buying near the start, most of your selling near the end, and switch out to repeat the trick in another asset. Just getting this right once or twice over a lifetime will may you very wealthy.

I was recently  looking at the early part of the last bull market (1999-). It's very easy to forget how it actually played out, but some people may be surprised when I remind them that silver did absolutely nothing of significant until well into the 2nd half of 2003! That's 4 years where you just had to sit and be patient.. and watch gold go up.. and wonder if silver was no longer considered as a precious metal.. all the stuff that we have had to bear through the last couple of years. Silver tends to lag, but it eventually catches up and eventually outperforms when the bull market starts moving up through the gears