Is anybody buying this dip?

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mike

mike

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Or are you guys waiting for a deeper dip?

I'm holding off until the weekend. A perceived "solution" to the cliff might result in lower prices.
 
eh, I would definitely consider buying something, if it wasn't such a futile exercise - every time I buy a bit, it ends up getting lost in some unfortunate accident, be it canoe toppled over, or burrying it somewhere in secret and dog eating my map... Sick and tired of losing all my savings that way...
 
I'm a bit over extended and tapped out right now. I only wish I could be stacking right now.
 
I feel we might still see some lower prices, before year's end - I tend to agree with swissaustrian, that this all feels like a rinse & repeat cycle from 2011/2012 (am I starting to getting hang on that gold ting, or what ;)). I honestly was feeling a little indecisive about buying up until now, without seeing some violent attacks (which I felt should come, and sure they did), and robust recovery afterwards (which I am sure will come, question at what levels). Now when we are staring at violent attacks, I'll just wait a little bit longer, to see that other bit (robust recovery ;)). I'll most probably miss the bottom, but I prefer to miss it on the (somewhat confirmed) way up, not down. Just seems to be a safer bet. And why not employ some of our in house traders' tricks, like the ones presented by swissaustrian and DCFusor, to time things well and give yourself a better chance.

December is not through yet, and it seems to me that whomever is doing these "market" machinations, would like to see the meme spreading, in various analysts' "past year reviews/new year's forecasts", that "precious metals bull market is officially finished, this passing year 2012". To date, after last slam, silver is about 2.5% up year on year, gold is about -1.5% down y/y - which does not guarantee they will stay below their Jan 1 2012 levels, given rather organic long term growth in price, and quite remarkable recovery after all the previous whams.

Next thing, even in that long-term bull market in PMs, there is some cyclicality - and it seems that every second year is stronger growth - weaker/no growth. just check the long term trends since about 2000. So, 2012 is kind of supposed to be a "weak" one.

My $.02
 
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Transferred money from savings to checking ready to buy some physical. Also have cash in some investment accounts ready to buy some paper.

Been reading some other forums, and the technical guys there seem to think there's still a bit more to drop.
 
quick thught: if it indeed is China, as rumoured, that puts the floor under gold price - just occured to me, wouldn't it be good for them - long-term hoarders - to at least temporarily remove the floor, let the gold fell waaaay down, and start accumulating there? What's your take on this, guys?

(a little bit off topic, but hey...)

another thing: I know 'twas mentioned already, that inverse correlation of USD/PMs has been broken recently, but now, it looks like it is pretty much a close NORMAL correlation?!? WTF?
 
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Yes, if it was only China. Other Eastern central banks would step in as well, though. Private buyers with huge pockets would also take advantage.
 
I finally had enough extra cabbage to roll on several tubes of ASE's, but the premiums were crazy. My LCS jacked the premium up to 5.25 per ounce, but was very kind to sell me the ones I got for only 3.85 over. With my guy, he always has to trap the delta when silver gets slammed, because he really has no choice. When he gets an allocation or when someone gomes in to sell, this is when they are available. Right now, folks are not really buying very heavily so his stock is several weeks old.

Oh well, all in good time, all in good time.
 
Why would TPTB want silver to remain #1 performer for 2012.

Make silver look bad, on PAPER, and keep paper believers away.

Endless psy-ops against PM's.
 
If you're dollar cost averaging, this looks like a decent spot for a small buy. My system for *trading* says, wait a little longer. Could be the manipulators want to show the end of the PM bull this year. I'll wait for my usual signal for trading.
 
DoChenRollingBearing said:
Here's a report from two guys who know gold & silver far better than I do, and they have the cred:

http://www.gata.org/files/QBAMCOItsTime-12-2012.pdf
Click to expand...

a good read. Bursted laughing at that one:
Boundless inflation will become apparent to the public either when: 1) banks begin using their new
reserves to try to issue more credit; 2) mysterious “animal spirits” (i.e., when leveragable balance sheets
meet common greed) spontaneously combust, or; 3) next Tuesday for no apparent reason.
Click to expand...
:rotflmbo:
 
drAGonfly47 said:
Why would TPTB want silver to remain #1 performer for 2012.

Make silver look bad, on PAPER, and keep paper believers away.

Endless psy-ops against PM's.
Click to expand...

Exactly, now it's #2 after the S&P

20121219_EOD8.png
 
They just want to close it out for the year to look like a bad investment. Nothing to see here.. move along.. right.
 
...one thing that makes me feel that PMs are still on the way up, long term:

look at the rate of price rises, vs. the price drops. The rise is somehow steady, all between the sudden drops.

If anything, it looks like a "panic" sell-offs (even if we take away the "conspiracy" bit out of it - which is hardly any conspiracy anymore, because it is being done in the open), and the steady, healthy growth in between them.

I'll take what I can out of it, and BTFD.
 
SONOFABITCH!! I should have friggin' waited. The carnage continues unabated, and of course, the CFTC is nowhere to be found. I'm glad they aren't responsible for responding to car accidents and shit.
 
thanks Superhero, great post there! I will need to research into that guy's method of tying the net shorts positions, with predictable attacks - because from what I've heard, silver net short position for say JPM has increased during 2012 from about $60bil, to about $90bil (which is ginormous, 50% increase of already enormous position). Which would all but warrant violent attacks, to cover some of these shorts.

But I would love to see his method of putting some numbers behind my "gut feelings".

Ancona, don't feel too bad - I for one am afraid, that I will call my local dealer at some stage in the very near future, only to learn, that they are completely out of stock - for as long, as this super-low push persists. Which is a real possibility.
 
I basically just agree with most of what Bushi has said.

1. They want gold to close out as low as possible at the end of the year.
So for my money Dec 31 probably the date to buy. (Too bad all my money is in PM's already.)

2. Except for the sudden 'attacks' which drop the price massively in less than an hour or two, I think you'd be hard pressed to find a graph that rises as smoothly and consistently as gold does.
 
If last year was any indication of how gold reacts after liquidation is done, I would think we start heading higher after the 27th.

I am already seeing some of the miners pop this morning. It's obvious to me that the vast majority of the selling is done for some of these names.
 
I don't personally believe they are finished yet. Expect more shenanigans going in to year end, because those massive shorts have to be counted on their books, so the lower the better.
 
ancona said:
I don't personally believe they are finished yet. Expect more shenanigans going in to year end, because those massive shorts have to be counted on their books, so the lower the better.
Click to expand...

COT report is today and we should have some commercial short covering along with spec shorts putting on new positions in this report. This report will not include the past 2 days of trading but definitely will encompass a large portion of this recent sell off.
 
As mentioned in an earlier post, I've been following Some_Math_Guy on the kitco forums. Several months ago, he warned people of impending manipulation, silver prices in the sub-$30s.

His latest post:

https://www.kitcomm.com/showpost.php?p=1868667&postcount=128

Although it might be a bit premature to confidently call a bottom here, as I said that I would weigh in after reviewing the COT numbers released today, I think that there's a very good chance that the worst is over and prices will start to head back up from here.

After reviewing the COT numbers as of last week, and the price damage done to silver this week, I have concluded that we are unlikely to get lower than 28.00US$ during this engineered crash. The price of silver is roughly proportional to the increase in Commercial Net Short contracts, so how low the silver price goes on this smackdown depends on how much short covering the Bag Guys are going to do. Although the Cartel did reduce their short exposure down to as low as 12K earlier this summer, that was an extraordinary event and a 10-year low. I think it is quite unlikely that the Cartel will reduce their short exposure even below 20K contracts this time; in fact I think it will only go as low as 25K contracts because there is simply too much interest in precious metals at the present time to risk driving the silver price that low. Demand for physical silver is always highest when the price is either ultra-high and rising quickly, or ultra-low and falling rapidly, and doing such a thing at the present time would risk causing actual physical silver shortages or delivery problems in the real physical silver market, in which case it's Game Over for the Cartel manipulation. It's a fine line that the Bad Guys have to walk...they need to keep the silver price as low and volatile as possible, yet without inducing actual physical silver shortages which would expose the fraudulent nature of the ultra-leveraged fractional paper precious metals system that TPTB use to divert demand for real metal into more worthless paper promises.

If you are thinking about adding to your stack, I think now is a very good time to add heavily to your position, at roughly 29.50US$ or thereabouts. If you wish, save some powder in case the price does drop another dollar or two, but I think that we're close to scraping bottom here, having already dropped some 16% in the past 30 days alone.

I just added my last 40 ounces for the year.
Click to expand...
 
December 26th is op/ex. It seems the targets of 1650 and 30 were reached today, so the dumpfest is over.
 
Bought some SLV and GLD for my parents (I handle part of their retirement account).

May get some (physical) for myself this weekend.
 
I think we could see < $1900 gold this year, but I visited a couple of online bullion dealers today.

I like 50 pesos and $10 Liberty on sale.
 
Spot might dip, but will premiums rise to cover?
 
pmbug said:
Spot might dip, but will premiums rise to cover?
Click to expand...

You just hit the nail on the head. Spot is becoming more and more disconnected from physical price that it is becoming meaningless. I am also more than a little concerned about all the fakes I've been reading about.
 
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