Anyone else notice what silver is closing at?

[NCBusa2001]

Can you believe almost $43. Wonder what the top will be, considering we haven't gone off the cliff yet!

Anyone else see this as a troubling development? I read that the silver exchange has 100 million ounces on have, but have sold 700 million in silver certificates. Talk about short selling.

Chris

 

[dadofthree]

I'll check with the Hunt brothers

 

[Rainbow7]

Anyone else see this as a troubling development?

Yep. I believe the historical trend has been that gold and silver go up when the market has no confidence in the Greenback, so this is particularly ominous.

 

[dadofthree]

Well gold has been trading pretty good for the past 5 to 6 years and the price has gone through the roof. So I don't expect the world to end tomorrow

 

[Busaman5000]

Soooooo we should buy silver??

 

[BlondeOnaBusa]

I guess that 1oz silver bar I have will finally pay off.

 

[busabeast]

cool- my mom gives each of us an ounce of silver for x-mas every year... i got about 15 of them now

 

[BlondeOnaBusa]

cool- my mom gives each of us an ounce of silver for x-mas every year... i got about 15 of them now

Use that money and buy stock in bacon!

 

[skydivr]

Soooooo we should buy silver??

I've thought hard about that same question. Better answer would have been YES-about 2 years ago.

Who knows which way it' s gonna head. People buy precious metals in anticipation/horde off inflation. As the dollar looks worse, gold/silver shoots up. As the dollar improves, it drops. While I don't think you are buying on a high, i do think its pretty inflated right now.

All depends on if we can bring some fiscal responsiblity back into our government or not....

 

[rockethead]

cool- my mom gives each of us an ounce of silver for x-mas every year... i got about 15 of them now

i now know where to go if a werewolf situation arises

 

[BlueHaya]

I hear ya. Back in 06 I bought some small gold bars and some silver bars. Thinking man this stuff is expensive.

I bought silver when it was $8 an ounce and gold was a little over $500.....so I am sitting good right now

Holding off for the $500 oz for silver and the $5K for gold...then dumping it all.

 

[NCBusa2001]

I still think its a good time to buy. We have been stocking it away since silver's spot was around $17.

Metals, food and ammo; currency of the future.

 

[PocketRocket]

WOW , I hadent realized it was soo High now... I've been slowly buying over the past 10 years or so.. wen It gets to 100$ an Oz then I'll cash in.. ever notice the price of bullets lately.. ? I also invest in Copper and brass seriously its doubled over the past 3-4-5 years ......

 

[skydivr]

I bought ammo instead. Someone will have to pay me in Silver to protect them with the bullets I have

 

[F=MA]

I bought SLV about two weeks ago at $38.66. That investment closed just shy of a $7k gain yesterday.

With the press coverage silver has gotten over the last month or so, I personally think silver is due for a correction in the near term. I placed a relatively tight stop order to sell if silver drops much so I can lock in at least a $6k profit.

Anyone considering using ETF's to trade silver or gold should be aware of the special tax rates applicable...particularly if the investment is for buy and hold purposes. Of course, the best way around the tax disadvantage is to trade in IRA or self-directed 401(k) accounts.

It's easy to look at charts like we currently see with silver and say "I should have bought years ago." and take no action. After all, who wants to pay top dollar for something?

What works for me is to ask myself "How much am I comfortable losing if my belief that the asset will continue to rise, at least in the near term, is wrong?" I'll then buy, and upon order execution place a stop loss order set at a price that locks in the maximum amount of money I'm willing to lose. Then, if my position appreciates in value, I'll begin moving that stop loss order higher to protect my original capital.

Silver was a trade that worked brilliantly, pun intended, for this strategy. When I bought it, it had already increased in value substantially. After I bought, it continued to rise, so the question quickly changed from "How much am I willing to lose?" to "How much profit am I willing to risk in order to hold the position?" A couple of days ago I placed a stop loss order to lock in a $4k profit if silver pulled back. Yesterday I modified that order to lock in additional profit.

I suspect that when silver experienced a short-term correction, there's a very good chance it will be rapid and perhaps as much as 20% or more. I may well be wrong, but for now I'm sitting in a pretty good position. My holdings will continue to increase in value if I'm wrong about a near-term correction (sometimes it feels good to be wrong). Likewise, if I'm right about a correction, not only will I feel good about my theory, I'll have at least $6k I didn't have before.

It's nice to see an investment-related thread on Hayabusa.org.

 

[skydivr]

I bought SLV about two weeks ago at $38.66. That investment closed just shy of a $7k gain yesterday.

With the press coverage silver has gotten over the last month or so, I personally think silver is due for a correction in the near term. I placed a relatively tight stop order to sell if silver drops much so I can lock in at least a $6k profit.

Anyone considering using ETF's to trade silver or gold should be aware of the special tax rates applicable...particularly if the investment is for buy and hold purposes. Of course, the best way around the tax disadvantage is to trade in IRA or self-directed 401(k) accounts.

It's easy to look at charts like we currently see with silver and say "I should have bought years ago." and take no action. After all, who wants to pay top dollar for something?

What works for me is to ask myself "How much am I comfortable losing if my belief that the asset will continue to rise, at least in the near term, is wrong?" I'll then buy, and upon order execution place a stop loss order set at a price that locks in the maximum amount of money I'm willing to lose. Then, if my position appreciates in value, I'll begin moving that stop loss order higher to protect my original capital.

Silver was a trade that worked brilliantly, pun intended, for this strategy. When I bought it, it had already increased in value substantially. After I bought, it continued to rise, so the question quickly changed from "How much am I willing to lose?" to "How much profit am I willing to risk in order to hold the position?" A couple of days ago I placed a stop loss order to lock in a $4k profit if silver pulled back. Yesterday I modified that order to lock in additional profit.

I suspect that when silver experienced a short-term correction, there's a very good chance it will be rapid and perhaps as much as 20% or more. I may well be wrong, but for now I'm sitting in a pretty good position. My holdings will continue to increase in value if I'm wrong about a near-term correction (sometimes it feels good to be wrong). Likewise, if I'm right about a correction, not only will I feel good about my theory, I'll have at least $6k I didn't have before.

It's nice to see an investment-related thread on Hayabusa.org.

Are you buying actual silver coin, or just trading in it? If you are actually buying coin, where is a good, reputable place to do it at?

I'd rather buy coin and put it away for a rainy day. You may not be able to use a gold coin to buy a loaf of bread, but you will probably be able to with a silver one.

Frankly, I WANT precious metals to go down - that means the dollar is being perceived as stronger and the economy is improving...

 

[Snakers]

I bought SLV about two weeks ago at $38.66. That investment closed just shy of a $7k gain yesterday.

With the press coverage silver has gotten over the last month or so, I personally think silver is due for a correction in the near term. I placed a relatively tight stop order to sell if silver drops much so I can lock in at least a $6k profit.

Anyone considering using ETF's to trade silver or gold should be aware of the special tax rates applicable...particularly if the investment is for buy and hold purposes. Of course, the best way around the tax disadvantage is to trade in IRA or self-directed 401(k) accounts.

It's easy to look at charts like we currently see with silver and say "I should have bought years ago." and take no action. After all, who wants to pay top dollar for something?

What works for me is to ask myself "How much am I comfortable losing if my belief that the asset will continue to rise, at least in the near term, is wrong?" I'll then buy, and upon order execution place a stop loss order set at a price that locks in the maximum amount of money I'm willing to lose. Then, if my position appreciates in value, I'll begin moving that stop loss order higher to protect my original capital.

Silver was a trade that worked brilliantly, pun intended, for this strategy. When I bought it, it had already increased in value substantially. After I bought, it continued to rise, so the question quickly changed from "How much am I willing to lose?" to "How much profit am I willing to risk in order to hold the position?" A couple of days ago I placed a stop loss order to lock in a $4k profit if silver pulled back. Yesterday I modified that order to lock in additional profit.

I suspect that when silver experienced a short-term correction, there's a very good chance it will be rapid and perhaps as much as 20% or more. I may well be wrong, but for now I'm sitting in a pretty good position. My holdings will continue to increase in value if I'm wrong about a near-term correction (sometimes it feels good to be wrong). Likewise, if I'm right about a correction, not only will I feel good about my theory, I'll have at least $6k I didn't have before.

It's nice to see an investment-related thread on Hayabusa.org.

Do you use a broker or software to manage your deals?

 

[F=MA]

Are you buying actual silver coin, or just trading in it? If you are actually buying coin, where is a good, reputable place to do it at?

I'd rather buy coin and put it away for a rainy day. You may not be able to use a gold coin to buy a loaf of bread, but you will probably be able to with a silver one.

Frankly, I WANT precious metals to go down - that means the dollar is being perceived as stronger and the economy is improving...

While I realize there are some small risks to trading exchange traded funds, ETF's for short, for my needs they fit better than taking physical posession of bullion or coins. There are costs and hassles associated with owning the physical commodity, and because I often enter and exit investments relatively rapidly, ETF's work better for me. Coin dealers are going to take a bigger chunk of profit than online brokerages.

So the short answer is no, I wish I could offer some advice for your question, but I cannot. As you know, I tend to be skeptical of "end times" or "doomsday" prophecies, so, right or wrong, I don't feel a need to hoard somewhat illiquid assets.

On one hand, I'd like to see inflation remain at the near zero levels it has been over the last couple of years. On the other hand, some inflation is good for the economy, and it's really good for those of us who owe money. Since I have no direct control over the inflation rate, the best I can do is attempt to position myself to benefit regardless what that rate is.

Do you use a broker or software to manage your deals?

My trading is done through the same brokerages available to any of us. Which one I use is dependent on which of our accounts I'm trading for. I doubt any online brokerage these days don't have the ability for customers to place orders that will automatically execute based on the price movement of a security.

Online brokerage accounts have in some ways helped democratize the stock markets by reducing commissions to a level where it makes sense for those of us without large amounts of capital to invest and not give up large percentages of our gains to brokerages through commissions. It used to cost $100 or more to buy or sell shares of stock. Thanks to the internet, trades can be made for $7-$10. It's a lot easier for us to buy a handful of shares in, say General Electric, and have a shot at realizing profits in the short to mid-term, than it was thirty years ago simply because the transaction costs are 10% of what they used to be.

 

[CCbusa05]

Don't know what to, therefore I think I'll just sit tight for now.
I purchased "several" 100oz. Engelhard bars waaaaay back in 1983 at $7.10/oz.. Silver closed at just over $46/oz. Thursday.
I don't need the money, so even if there is a future correction as some financial advisers are hinting, no big deal. "But", if silver did by chance approach $60/oz., I think I'd bail!!??

 

[Hobo]

I have noticed that hot chips at food joints are selling crap, every second one is very poor quality. They buy at a discount because of this and sell them on @ top dollar Grrrrrrr !