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Author Topic: Pop! Goes the Silver  (Read 1884 times)
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tamo42
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« on: 2011 Apr 08, 12:22:31 am »



So yeah, yeah, gold has hit record highs for a few days in a row. That's great and all, but silver is where the action is (on a percentage basis). As I'm writing right now at very un-businesslike hours on April 8, silver has just passed through an important psychological resistance level of $40/ounce. Expect sudden spurts of prices in both directions separated by periods of grinding as traders adapt to the new price paradigm.

The chatterboxes around the internet are attributing this to many different things: budget passing failure in congress, The Bernank's speech in Atlanta about rising prices being "transitory," zombie banks unwinding their short positions, or other such econo-political factors. I think it's because people (somewhere? everywhere?) are buying silver, whatever their motivations.

When you get down to it, the trend is your friend. In my particular case, my busted silver trade from 2 weeks ago is up over 100%. The great part about trading with the trend is that it is forgiving of mistakes like that.
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Neal McSpadden
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dobedo
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« Reply #1 on: 2011 Apr 08, 10:28:15 pm »

I see now that I sold off SLV too quickly on lack of rumor. If I stay in the market for a day or two longrer, I could afford by now to get one of your panda coins. Shame on me.
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tamo42
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« Reply #2 on: 2011 Apr 09, 09:22:22 am »

Don't worry too much about it. There will continue to be swings in the market, both up and down.
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Neal McSpadden
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CoinWorld13
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« Reply #3 on: 2011 Apr 11, 04:15:40 am »

I agree. Tell me if I am wrong tamo42, the "Fat Cats" who deal primarily in futures "paper" still control large aspects of the actual commodity. Just wait and see... There will be an opportunity to buy up again. The uses for silver are higher than ever in demand. Automotive, medical, military, telecommunications, computers.... On and on and on. So I really think that with that being said, that when the Medal goes down there will be a shorter window than seen in the past. So buy buy buy when you can! The Fat Cats will not be able to keep the commodity down for long. This is the time, however, to be buying Chinese Coins and Medals though! We have seen proof through Chinese Auctions that China is really starting to follow suite. Graded/Preserved numismatic Chinese Coins/Medals will be a fail safe investment! No matter the medal price, this is the best bet to secure excellent investments! Follow the masses! In this case the masses are small... So buy before the word grows to its dictionary meaning!!
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dobedo
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« Reply #4 on: 2011 Apr 11, 06:36:54 am »

Actually, tamo42 is selling all his silver pandas right now on eBay. What does that tell us? Buy low, sell high, buy lower, sell less high, ... I'm tempted to follow him, since he's proven he's right before.
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tamo42
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« Reply #5 on: 2011 Apr 11, 07:09:19 am »

Two things. First, silver pandas are not the same as silver bullion. They serve very different purposes in my portfolio. Second, who said I was selling all my pandas? Smiley I am selling some, but by no means all.

Personally, my strategies typically involve churning assets while keeping profits in those favored asset classes. That's why the basis in my silver bullion is zero.
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Neal McSpadden
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tamo42
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« Reply #6 on: 2011 Apr 11, 07:10:34 am »

Oh, and yes, CoinWorld13 is right. Paper silver markets control the price of silver bullion, even though that's like saying playing the game battleship controls the positions of the fifth fleet in the Middle East.
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Neal McSpadden
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« Reply #7 on: 2011 Apr 11, 08:10:30 pm »

Pop! Busts the silver bubble?
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badon
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« Reply #8 on: 2011 Apr 11, 09:38:07 pm »

Haha, I don't think so. The dollar bubble needs to burst first.
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tamo42
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« Reply #9 on: 2011 Apr 11, 09:39:42 pm »

Expect sudden spurts of prices in both directions separated by periods of grinding as traders adapt to the new price paradigm.

You have to remember that the silver market is a very small one, relative to other assets. As such it is prone to large swings as the big firms throw their money around.
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Neal McSpadden
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