$35.00 silver - How low are you going to let it go before buying.

[mts]

I'm still going to hold off for a while.

That is probably a smarter move than what I am doing. But I tend to lack patience when it comes to PMs at times. My core positions (you know, what is gonna save me when the dollar crashes ) are put away and I am not touching them even if silver goes past 50.

But what my goal is now is to profit IF silver does another run up, which I feel it will before the end of the year. I will keep adding as it drops in stages so I have a decent amount accumulated. It may not get past 50 again in the next run up, but I would sell at 48 or so and be happy. If my average buy price is in the 33 to 36 dollar range that would be a nice profit percentage wise, compared to the less than 1 percent that money is getting in a CD. But I do think 28 is coming, since that is an area of support in the charts, much like 33 is/was. I still maintain we will see 100 plus silver within the next 5 years, since all past bull markets like this end in what is called a "mania" phase where everyone wants in the market--like the tech stock and real estate bubbles we just had. Right now most average people don't have a clue about silver, so we are not near the "mania" phase yet.

The only way I would lose on this type of buying is if silver never rises past my buy price ever again. Personally, I don't worry about that. If the dollar gets so strong that my PMs lose their value, it would mean all our economic problems here would go away and I would make more money in my business, etc.

Jim

If I'm going to try for a short term profit off of silver it will be with a silver ETF like SLV. My physical silver holdings will always be for the long term. It just seems to me that trying to turn physical silver for a profit is just too time consuming. The premiums when buying are too high and the value when selling is too low. Although I don't typically recommend ETF's for holding silver, I have done well with them for short term profits on silver price swings. As long as you treat it like any other stock then there is no real danger in trading in it.

If physical silver stabilizes lower and premiums decline then I will likely buy another $10K worth of physical silver just to increase my holdings for the long term. If silver goes down below $30 and appears to be headed back up for good then I will likely buy SLV and see if I can make a quick buck or two.

 

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[jim4silver]

I'm still going to hold off for a while.

That is probably a smarter move than what I am doing. But I tend to lack patience when it comes to PMs at times. My core positions (you know, what is gonna save me when the dollar crashes ) are put away and I am not touching them even if silver goes past 50.

But what my goal is now is to profit IF silver does another run up, which I feel it will before the end of the year. I will keep adding as it drops in stages so I have a decent amount accumulated. It may not get past 50 again in the next run up, but I would sell at 48 or so and be happy. If my average buy price is in the 33 to 36 dollar range that would be a nice profit percentage wise, compared to the less than 1 percent that money is getting in a CD. But I do think 28 is coming, since that is an area of support in the charts, much like 33 is/was. I still maintain we will see 100 plus silver within the next 5 years, since all past bull markets like this end in what is called a "mania" phase where everyone wants in the market--like the tech stock and real estate bubbles we just had. Right now most average people don't have a clue about silver, so we are not near the "mania" phase yet.

The only way I would lose on this type of buying is if silver never rises past my buy price ever again. Personally, I don't worry about that. If the dollar gets so strong that my PMs lose their value, it would mean all our economic problems here would go away and I would make more money in my business, etc.

Jim

If I'm going to try for a short term profit off of silver it will be with a silver ETF like SLV. My physical silver holdings will always be for the long term. It just seems to me that trying to turn physical silver for a profit is just too time consuming. The premiums when buying are too high and the value when selling is too low. Although I don't typically recommend ETF's for holding silver, I have done well with them for short term profits on silver price swings. As long as you treat it like any other stock then there is no real danger in trading in it.

If physical silver stabilizes lower and premiums decline then I will likely buy another $10K worth of physical silver just to increase my holdings for the long term. If silver goes down below $30 and appears to be headed back up for good then I will likely buy SLV and see if I can make a quick buck or two.

I have considered that recently in using ZSL to short silver (when it reached 50). However, one fear I have is that IF silver never came back up after I bought SLV (which risk is low I believe), I would at least have the physical metal by buying the bullion instead of paper certificates. The spreads on the bullion I buy are not too bad relatively speaking. Part of the fun for me is actually looking through the cheapo stuff looking for bargains.

If/when I ever feel we have really reached the bottom, I might get some SLV for fun.

Jim

 

[JD-GA]

Guys there is plenty of money to be made in etf but remember these prices jumping massive percentages daily is due to the large paper traders playing the game. Although we buy silver based on the same spot prices they play paper games with we still hold the actual asset. When you get into paper trading just remember you are a tiny fish in a small pond and small fish is exactly what these guys feed on. Not saying there isnt good investments there because there certainly is but you need a much larger pair than I carry to play that game.

 

[Roadquest]

Could silver go down to $29.00 and oz Friday? It's kind of like a Nascar race. A guy in second place will lag back
a little, so he can get a run on the leader. Using this momentum , he can pass him.

 

[Vodka1000]

I don't think so !!!

http://mobile.reuters.com/article/idUSTRE73786N20110512?irpc=932

http://www.silverseek.com/