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Old 06-20-2013, 09:56 AM   #1
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Silver Mayhem!

I called my LCS this morning at around 10:00 and asked him what he had in stock. "Almost nothing" was his response. In addition, he told me that there would be no ASE's for the near future and probably no rounds in any large quantities for a while. I put my name on his call list and said I wanted to order two hundred rounds when he has them. With silver on sale like this, i'm reminded of lat '08 and early '09 and the big push down to ten bucks or so. I would love to pick up a couple thousand rounds at 10 to 18 bucks.
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Old 06-20-2013, 10:05 AM   #2
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Looks like a lot of peeps are BTFD right now. Apmex sales volume apparently exploded this morning.
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Old 06-20-2013, 10:22 AM   #3
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Originally Posted by PMBug View Post:
Looks like a lot of peeps are BTFD right now. Apmex sales volume apparently exploded this morning.
I took delivery on my kilo bar yesterday (which has fallen 60 dollars in price since I bought it ). The mailman said he has been delivering silver all day...
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Old 06-20-2013, 10:26 AM   #4
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Personally, I am nibbling here a chunk, but really sharpening my knives expecting it to go even lower now.. I think we might be fast approaching panic levels, when we might get the final overshoot to the downside, when various folks press the panic buttons. I'd fully expect gold to go below production costs for a while (as discussed here, at around $1200-$1300 all in), before I'll start buying aggressively). I don't wan't to be out of dry powder, shall that happen.

Although it is already a very good buying opportunity, I believe, given the fundamentals, negative sentiment and various analyses, for example here. $1250-$1300 zone is according to them, a great buying opportunity.

from there, one picture, worth thousand words:
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Old 06-20-2013, 11:18 AM   #5
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Is that a chart of Obama's strategy on Syria?
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Old 06-20-2013, 11:43 AM   #6
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Ten dollar silver is a gift from Heaven boys. It will never stay that low, and as soon as all physical stocks disappear, the PTB will be given no choice but to unleash the Kraken. I sure would like to recover some of the mega cash I had to spend a few years back.
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Old 06-20-2013, 01:33 PM   #7
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Yup, I'm thinking it's time to buy more here, at least a little. Of course, when the local shoeshine boy starts in - it might be a bad sign. Hope I don't qualify for the shoe shine biz.
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Old 06-20-2013, 03:59 PM   #8
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I think we are heading towards a place with no hope for PMs, at which time I will really spread my arms wide, and load up to the planned % of my portfolio (which will be 50% - I know it is higher than many respectable investors suggest as prudent - around 20%, but that's what I feel in my piss would be comfortable for me).

I mean, we are at the break even spot prices, for 90% of miners, all costs of sustained production counted. It cannot possibly last
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Old 06-20-2013, 04:53 PM   #9
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Originally Posted by bushi View Post:
I think we are heading towards a place with no hope for PMs, at which time I will really spread my arms wide, and load up to the planned % of my portfolio (which will be 50% - I know it is higher than many respectable investors suggest as prudent - around 20%, but that's what I feel in my piss would be comfortable for me).

I mean, we are at the break even spot prices, for 90% of miners, all costs of sustained production counted. It cannot possibly last
I couldn't make that kind of allocation although I agree it's starting to look like a buying opportunity. Deflation is still a risk maybe? Nobody really expects it but we are in uncharted territory with the ETF dumping gold. Seems like China could be a wild card good or bad. What's up with their banks right now? There is a poker term here I am struggling to remember about drawing a card....
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Old 06-20-2013, 07:29 PM   #10
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Originally Posted by DCFusor View Post:
Yup, I'm thinking it's time to buy more here, at least a little. Of course, when the local shoeshine boy starts in - it might be a bad sign. Hope I don't qualify for the shoe shine biz.
No worries yet DC; the shoe shine boy is still SELLING his gold and silver to the Cash-4-Gold shops.
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Old 06-20-2013, 07:42 PM   #11
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Originally Posted by ancona View Post:
Ten dollar silver is a gift from Heaven boys. It will never stay that low, and as soon as all physical stocks disappear, the PTB will be given no choice but to unleash the Kraken. I sure would like to recover some of the mega cash I had to spend a few years back.
spent all day trying to figure out what you meant. (I'm not the sharpest tool, etc.) getting 40 oz more tonight...
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Old 06-21-2013, 10:57 AM   #12
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Looks like we finally hit that $19 target we have been talking about for years. With all of the support at this level, it is not likely to go lower for years, if ever. What I see now is a trading range from 19 to 26 for months, or maybe even years, though years is unlikely with Bernie in charge.

Once Joe Blow realizes that this is the new normal, supplies should open up and premiums come down. Hope everyone has lots of dry powder.
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Old 06-21-2013, 11:17 AM   #13
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hi mmerlin,

TA 101 question: how do you determine:
Quote :
all of the support at this level, it is not likely to go lower for years, if ever
...the support level @19? Where is that coming from, and (preferably), what is the rationale behind this p[articular piece of TA?

Thanks in advance for enlightening a noob!
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Old 06-25-2013, 09:54 PM   #14
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Originally Posted by mmerlinn View Post:
Looks like we finally hit that $19 target we have been talking about for years. With all of the support at this level, it is not likely to go lower for years, if ever. What I see now is a trading range from 19 to 26 for months, or maybe even years, though years is unlikely with Bernie in charge.

Once Joe Blow realizes that this is the new normal, supplies should open up and premiums come down. Hope everyone has lots of dry powder.
I am sitting here watching silver PLUMMET, 18.85 now. Arrrgghhh and just spent all my pennies...

18.79

18.77

18.74

18.71

I'm going to bed.

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Old 06-25-2013, 10:40 PM   #15
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I think it might be a mistake to think of PM's as an investment and watch the price fluctuations unless you like to go to casinos and have large amounts of money that you are able to bet, or get to manage other peoples money. This is more like insurance. You hope you're never going to need it but you still want to have some of it. Not alot. Just enough.
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Old 06-26-2013, 06:43 AM   #16
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Originally Posted by Aubuy View Post:
I think it might be a mistake to think of PM's as an investment and watch the price fluctuations unless you like to go to casinos and have large amounts of money that you are able to bet, or get to manage other peoples money. This is more like insurance. You hope you're never going to need it but you still want to have some of it. Not alot. Just enough.
I disagree.

Yes I like PM's as insurance.

But when I looked around for investments, I stumbled on something that's
1. price had been artificially suppressed while the price of most other things has been artificially propped up or inflated.
2. The public is guaranteed to flock to when the everything else that's been inflated or propped up gives way.

I don't think you could find a better investment.

If it's paper price was a reflection of physical demand, (which is how all things are eventually priced - supply and demand.) it would have an almost parabolic upward trajectory.

The fact that it's paper price is plummeting and the fact that you can actually buy physical near that price, only gives the illusion that it hasn't been a great investment in the short term. Don't be fooled because unless they've perfected alchemy, the supply side will run (& already has been running) into big problems.

While I wish I'd kept more powder dry for the mother of all sales. It also doesn't effect me because I'm not planning on selling till the fiat ponzi collapses or is inflated away.
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Old 06-26-2013, 07:14 AM   #17
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Originally Posted by Aubuy View Post:
I think it might be a mistake to think of PM's as an investment and watch the price fluctuations unless you like to go to casinos and have large amounts of money that you are able to bet, or get to manage other peoples money. This is more like insurance. You hope you're never going to need it but you still want to have some of it. Not alot. Just enough.
I'm with U, but I'm not considering it an investment. I'm sad I don't have any more money to buy during this sale! But I DO want a lot, and I'm big time against gambling, but not from a moral point of view. I hate to lose my money. Can you imagine what is going to happen to the price of silver when everyone catches on?
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Old 06-26-2013, 08:42 AM   #18
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Originally Posted by Jay View Post:
I'm with U, but I'm not considering it an investment. I'm sad I don't have any more money to buy during this sale! But I DO want a lot, and I'm big time against gambling, but not from a moral point of view. I hate to lose my money. Can you imagine what is going to happen to the price of silver when everyone catches on?
If you are right everybody is going to wish they had a bunch more, particulary if these rising interest rates cause banks to wobble again and we start to see the "Cypress" model expanded to other countries. I am not there yet, but I can't take my eyes off the financial news right now because if the Fed can't get these interest rates back on the tracks "insurance" could turn into OMG why didn't I buy more (although I've been wrong before which is why I try to stay diversified even though occassionally I wonder what exactly does diversified really mean in this crazy world?)...
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Old 06-26-2013, 12:27 PM   #19
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Sunshine Rounds

Apmex has Sunshine rounds on their E-bay page for $22.50. Cow-a-bunga!
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Old 06-27-2013, 09:52 AM   #20
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http://www.zerohedge.com/contributed...ums-35oz-china

Quote :
. While India imported 1,900 tonnes of silver in 2012, in the first five months of 2013 alone, imports have touched 2,400 tonnes.
India looks on track to import about 6000 tons of silver this year, maybe more if they keep trying to stop gold imports.

That will be nearly 200 million ounces in a 1 billion ounce market.
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