Silver sliding again

ancona

Praying Mantis
Messages
3,370
Reaction score
0
Points
0
Location
Waaay south
Well, it looks liek silver and gold are sliding down again today. Was there a margin increase or something? Since no one is selling physical, this is just more silver bashing with imaginary paper silver. If this keeps up, expect the premiums for physical to start rising.
 

swissaustrian

Yellow Jacket
Messages
2,053
Reaction score
0
Points
0
Given the chaos in the gold market, silver is holding up pretty well again...
I think it's just the action in gold.
Platinum and palladium look pretty stable, too.
 

Jetstream

Big Eyed Bug
Messages
318
Reaction score
0
Points
0
I'm wondering how much further the slide might go. Does anyone think this may be a time to sell some bullion and buy back lower or is the consensus that the bottom is near.
I have a feeling silver could drop in price a fair bit (25-28 maybe?), but if so it would be for a very short time.
 

mmerlinn

Ground Beetle
Messages
633
Reaction score
0
Points
136
Location
Here, There, and Everywhere
I'm wondering how much further the slide might go. Does anyone think this may be a time to sell some bullion and buy back lower or is the consensus that the bottom is near.
I have a feeling silver could drop in price a fair bit (25-28 maybe?), but if so it would be for a very short time.
Theoretically, silver could go as low as 26 without violating its uptrend. However, I would be surprised to see it even momentarily dropping below 30. Needless to say, based on price action for the last several years, anything below 30 is buy, buy, buy in my book. If perchance it did drop below 26, I would re-examine the whole silver market from the view that it might be time to consider selling silver on spikes in the market rather than on buying on dips.

As far as selling goes, never sell into dropping markets. Sell into rising markets and vice versa. If you think you want to sell some silver, wait for silver to start rising again, then sell bits and pieces into every spike.

My personal opinion is that now is neither the time to buy nor the time to sell, though a buying time appears to be approaching.
 

ancona

Praying Mantis
Messages
3,370
Reaction score
0
Points
0
Location
Waaay south
I expect to see another buying opportunity before it is all over. I am in for the long term anyway, so these little blips on the radar do not frighten me one bit.
 

pmbug

Your Host
Administrator
Messages
7,433
Reaction score
16
Points
193
Location
Texas
It's more metal for a dollar cost averaging budget.
 

Jetstream

Big Eyed Bug
Messages
318
Reaction score
0
Points
0
To be clear, I am in no way 'panicking', nor do I think silver is heading down for the long term. My question above had to do specifically to see how others viewed the short term and whether or not it would be prudent to sell and rebuy if it is looking like a considerable drop.
For my part, I do not consider silver to be part of my day to day financial consideration. It is long term (like a self-funded retirement plan).
 

dali lambone

Predaceous Stink Bug
Messages
130
Reaction score
0
Points
0
"My question above had to do specifically to see how others viewed the short term and whether or not it would be prudent to sell and rebuy if it is looking like a considerable drop."

@Jetstream

I see your logic, and it's a great plan, but your best bet to buy the dips and sell the peaks for short term profit are to make paper trades, like PSLV. Keep that phyzz no matter what for now and hold it tight!!!! At the very least, you'd avoid shipping and handling charges associated with delivery ( or other reasons )which add up pretty quick. To go a step further, you never know when the crash is going to hit, and I think we all agree here that it's coming at some point. Better to have your stacks on hand as opposed to the chance, however slight it may be, of having the crash during a physical trade.
 

Jetstream

Big Eyed Bug
Messages
318
Reaction score
0
Points
0
Thank you dali.
Pretty much in line with my thinking, but I was curious to see how others saw it.
I have stayed out of the paper side of things all my life, and am not about ready to change now.
 
Top