I think we are gonna see a further decline in silver

jim4silver

Silver Member
Apr 15, 2008
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Over the past few days the price keeps going back in the 26 zone. In the past when the price bounced off the 26 zone it shot back towards 29, but it is not doing that now.

It may sound crazy but nowadays I actually get more excited to see silver correct than go up. The reason for this is I know I will not be buying anymore at some point in the future if/when it takes off again. But as long as it stays in the 20s I am buying whenever I have the extra cash.

Some online sites are talking about junk silver shortages at some of the larger online dealers, but my local dealers have lots of it available. I don't buy junk silver except on rare occasions since I can get .999 generic for a few pennies more and if/when silver rockets up it will hold its value better than junk in my opinion, based on what happened in the early 80s. If it ever gets to the point that so much silver is being sold due to its high price it is getting sent to the refiners instead of being resold to collectors (like what happened in the 80s), the junk silver will take a hit because refiners pay less for it than .999 due to its lower purity. However, if we have any scares here like we did with the y2K deal, junk will gain in premiums because people will believe they can "barter" or use it for survival purposes. I am betting against that scenario myself although I do have some junk silver stashed.

The good thing for now is that it seems the hedge funds and large speculators are ignoring silver and/or shorting it for the most part, so anything that hits the stock market negatively now shouldn't really hurt the PMs since they won't need to sell the PMs to offset their losses in stocks like they did in 08.

PS Tomorrow may be a wild day with respect to the Obama healthcare decision being announced by the Supreme Court and the Holder contempt vote taking place. Don't really think either will affect silver but will have the news sites working overtime I imagine.

All just my opinion.

Jim
 

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I'm with you about seeing silver correct itself. I have not bought any .999 since it hit about $20.
Then I kick myself for not selling some when it was at $50.
 

I hope you are right - I am a buyer for sure at these prices
 

Keep on stacking !! This is a great buying opportunity!

Love reading your words of wisdom Jim - you do alot of great research on the subject.
 

I don't care if it's in the 10-20$30's I will still be buying before the SHTF. I'm a 90% buyer mostly and as Jim say's there are reports of shortages from the big dealers that may be correct as the sellers of 90% are getting better prices for their 90% on such sites as ebay. Why sell it to the dealers for below spot when you can get above spot on ebay.
I have no problems finding 90% there are lots of sellers still out there.
JP Morgan is manipulating the market and keeps trying to push the spot down but that won't last long as they have only about 1500 shorts left and when they get rid off them, "Kaboom" watch it take off. LMAO Happy Stacking.
 

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