does anyone see silver making any substantial moves tomorrow before the SOU address? The reason I'm asking is because I think I'm gonna spring for some ASEs tomorrow. I did like some math guys chart a little while back, he doesn't show much happening in Feb. PS this might be construed as a warning to keep your powder dry, as silver should fall precipitously Wed.
question
- Thread starter Jay
- Start date
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In this environment, if you are buying silver, anytime it dips below $31 is a buying opportunity. For ASEs, how low of a premium you can get is a bigger thing to worry about than the fifty cent variations in the silver spot price.
As far as the numbers, silver and platinum as the most attractive at the moment. The European weakness is the only thing really helping the USD right now.
$.02
As far as the numbers, silver and platinum as the most attractive at the moment. The European weakness is the only thing really helping the USD right now.
$.02
DoChenRollingBearing
Yellow Jacket
@ Jay
Ever since reading Taleb's two books, I value predictions less and less... I see predictions as worth only ideas...
I have bought and been very happy when I had spare money, gold and silver, for decades. When I have some extra money come in, some goes to PMs.
Another way to look at buying silver (and/or gold) is to see what risks you have in your own family situation: if you see yourself more at risk (to a financial meltdown, for example), then buying a bit more PMs (and bullets!) makes good sense.
Ever since reading Taleb's two books, I value predictions less and less... I see predictions as worth only ideas...
I have bought and been very happy when I had spare money, gold and silver, for decades. When I have some extra money come in, some goes to PMs.
Another way to look at buying silver (and/or gold) is to see what risks you have in your own family situation: if you see yourself more at risk (to a financial meltdown, for example), then buying a bit more PMs (and bullets!) makes good sense.
I don't perceive any financial crisis in the near future. I am almost debt free. Premiums on ASE's are HIGH as of late, my usually low Virginia dealer is getting 37.75 for ASE at 32. spot, local PM guy gets 38. Still haven't read either of T's books. on the list. (Of course, with friends posting Cliff notes, no need to read, right?
)No big moves, imo. My ref. is an amalgam of COT data and the standard fundamentals+"grey swan" events. USD/JPY has become important, ESP. for g-bugs=all PM bugs.
I agree 100% /w the poster mentioning spot below 31usd is always a good time to buy.
On a side note, I became bored/frustrated with Au going forever sideways...sold 20 oz buffaloes a few months ago for palladium maples (690usd each). Very good decision imo (I think CML Pd are difficult to find now)...am going to (trading, even monex, isn't my bag) continue stackn pd in near future...when signals look good, switch out for Au. (Not a big Au person, 50-100 oz would be tops).
I agree 100% /w the poster mentioning spot below 31usd is always a good time to buy.
On a side note, I became bored/frustrated with Au going forever sideways...sold 20 oz buffaloes a few months ago for palladium maples (690usd each). Very good decision imo (I think CML Pd are difficult to find now)...am going to (trading, even monex, isn't my bag) continue stackn pd in near future...when signals look good, switch out for Au. (Not a big Au person, 50-100 oz would be tops).
bushi
Ground Beetle
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hello bugs,
IMHO, buying physical precious metals, for the sake of active trading, is not a very smart move - premiums are so high, they will eat away all spot price movements that one could realistically expect to capture in the short-medium term, and then some more. The only people who make money on trading physical metals day in day out, are coin shops.
To me, physical metals = stacking, and patiently awaiting "the slingshot moment", when the premiums wouldn't be that important (after your stack appreciates many-fold).
For a bit of trading, I would rather use some of the fully allocated pseudo-exchange companies, like http://www.bullionvault.com/ and the likes. Your gold is fully allocated, you can trade directly 24/7, you can even get physical delivery (at some cost, of course).
IMHO, buying physical precious metals, for the sake of active trading, is not a very smart move - premiums are so high, they will eat away all spot price movements that one could realistically expect to capture in the short-medium term, and then some more. The only people who make money on trading physical metals day in day out, are coin shops.
To me, physical metals = stacking, and patiently awaiting "the slingshot moment", when the premiums wouldn't be that important (after your stack appreciates many-fold).
For a bit of trading, I would rather use some of the fully allocated pseudo-exchange companies, like http://www.bullionvault.com/ and the likes. Your gold is fully allocated, you can trade directly 24/7, you can even get physical delivery (at some cost, of course).
Hey Bushi
good to see you are ok with Bullionvault.
All my stash is split equally between them and Goldmoney.
Yeah I know how you need to hold it for ultimate security but the downside risks of having that much hidden scares me far more than a total meltdown and bigger boyz taking my allocated metals from the vaults.
No vat to pay on silver purchases
can sell very quickly ( as long as the internet is functioning ) and dont have to trust a dodgy dealer in bad times
far more secure than a hole in the ground and having to tell at least two others what and where.
recoverable by offspring, if I suddenly disappear from this reality.
Huge savings on boat replacement too (-;
good to see you are ok with Bullionvault.
All my stash is split equally between them and Goldmoney.
Yeah I know how you need to hold it for ultimate security but the downside risks of having that much hidden scares me far more than a total meltdown and bigger boyz taking my allocated metals from the vaults.
No vat to pay on silver purchases
can sell very quickly ( as long as the internet is functioning ) and dont have to trust a dodgy dealer in bad times
far more secure than a hole in the ground and having to tell at least two others what and where.
recoverable by offspring, if I suddenly disappear from this reality.
Huge savings on boat replacement too (-;
Rblong2us, maybe you could hold a little bit as insurance? (maybe you already do). I would have trouble trusting that the internet, electricity, etc is going to be there when I need it. And who exactly is going to deliver your shiny to you when you need it if the highways are locked down?
DoChenRollingBearing
Yellow Jacket
Happens to me all the time, Jay!
That's why I continue to be surprised that no one has taken me up on my offer to give anyone 24 hours notice (for $50!) that I will be buying something...
That's why I continue to be surprised that no one has taken me up on my offer to give anyone 24 hours notice (for $50!) that I will be buying something...
I see silver and gold being smashed a fair bit more. I think we are entering the end game here, and if that is so, you will see a shakedown that will try to loosen the strongest hands possible.
I see support levels being broken, and the general consensus changing to say PMs are now in a bear phase.
Hold on. The roller-coaster is just getting going.
I see support levels being broken, and the general consensus changing to say PMs are now in a bear phase.
Hold on. The roller-coaster is just getting going.
stockjockee
Fly on the Wall
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It's not a race, so I will!