Silver

[Texan2]

I am guessing a level off point at about $35 and a slow climb after that.

 

[TexasRedneck]

Lots of variables, but I'd be surprised if it doesn't dip even lower.

 

[lalonguecarabine]

I'm thinking it'll go a lot lower.

 

[Texasjack]

Silver and gold took big dips today because George Soros (yes, THAT evil bastard George Soros) is cashing in on some of his holdings.

Commodities go up and they go down. "Buy low, sell high" or you'll get burned.

 

[zembonez]

Not buying the Soros impact theory. Silver continues its plummet. Now trading below $35.00.

 

[leonidas]

If there is anything I've learned from investing it is this: It's complicated and the more you learn the less you really know. This goes for the guys at the top too. At this point I throw my hands in the air and stick to my beans, bandaids, and bullets as investments.

 

[zembonez]

Bullets are a good hedge against the zombies! If silver continues to drop I am going to jump back in and buy. It will eventually go back up some.

 

[lalonguecarabine]

Not buying the Soros impact theory. Silver continues its plummet. Now trading below $35.00.

No logical reason whatsoever, but I have a gut feeling that it's gonna bottom out at under TEN dollars.

 

[zembonez]

No logical reason whatsoever, but I have a gut feeling that it's gonna bottom out at under TEN dollars.

HA! If you are right, I'm gonna be a buying fool!

 

[Texan2]

HA! If you are right, I'm gonna be a buying fool!

I dont ever see $10 silver in my lifetime but I would love to see it...i would be a buying fool as well.

 

[Poink88]

I am getting ready to buy more once it went closer to $30!!!

 

[zembonez]

I don't think it will drop below mid 20s. That's my guess.

 

[Texan2]

mid 20's? im all over that too.

 

[zembonez]

Me too. I don't know if the current trend downward is the biggie or not... but if it ever does tank I'm in.

 

[Texan2]

I was listening to the radio the other day and someone (I think it may have been Glenn Beck) had mentioned that it was due to a change in the silver buying process. Before, a speculator could put up 20% and effectively take "possession" of the silver (on paper only). After that, they get the profits if the silver goes up or pay the difference if the silver goes down.

They've since changed it (according to the source of whoever it was I was listening to) so that the amount you have to put up is larger. This means that people were selling off large amounts of silver in order to put up the additional capitol needed to keep the rest of the silver.

I didn't research it to see if it was legit or not but it makes sense if it is. It also explains the freefall in silver as more of it is coming on the market as people are selling.

 

[zembonez]

Hard to say. It's basically a world market item.

Check this. Live Gold, Silver, Platinum, Palladium Quote Spot Price Chart - Kitco

 

[Texasjack]

Ask the Hunt brothers what happens when you try to hoard silver. They tried that back in the '60's or '70's.

If the price gets high enough, it's amazing how much can be dug out of the ground.

 

[TexasRedneck]

And therein lies the rub.....when they can dig it outta the ground quickly, more becomes available an' the price drops. This whole thing reminds me of the ostrich craze....an' the emu craze....an' the longhorn craze. The early birds git the $$$, the latecomers sit around an' wonder what happened to theirs.

 

[SC-Texas]

I need to pick some up.

 

[ZX9RCAM]

I was listening to the radio the other day and someone (I think it may have been Glenn Beck) had mentioned that it was due to a change in the silver buying process. Before, a speculator could put up 20% and effectively take "possession" of the silver (on paper only). After that, they get the profits if the silver goes up or pay the difference if the silver goes down.

They've since changed it (according to the source of whoever it was I was listening to) so that the amount you have to put up is larger. This means that people were selling off large amounts of silver in order to put up the additional capitol needed to keep the rest of the silver.

I didn't research it to see if it was legit or not but it makes sense if it is. It also explains the freefall in silver as more of it is coming on the market as people are selling.

Sounds about like a Margin call, makes sense to me.
All the silver I own I can lay hands on.