warpig Posted March 18, 2010 Report Share Posted March 18, 2010 No, I've only recently bought back in after being out of GM silver for a few months. IMO it isn't worth the risk of trading anymore, you run the risk of missing the big one! I'm in it until the end now. Anyone trading silver? Link to comment Share on other sites More sharing options...
huntergatherer Posted March 18, 2010 Report Share Posted March 18, 2010 No, I've only recently bought back in after being out of GM silver for a few months. IMO it isn't worth the risk of trading anymore, you run the risk of missing the big one! I'm in it until the end now. I too have bought back in GM below £10 t oz after selling last February. (funds used to purchase Au at $900-core position at $605) I held an overweight position in Ag at really the wrong time when Au would have been better but was able to buy 50% more metal at a low of $8.81 and averaged out. My funds in Ag also protected me against drop in pound and strengthening dollar appreciation. I would consider a trade-like last time but only if it was the right thing to do. I hold some physical Ag which I can hold on to and will keep funds available (dollars and sterling) should there be a large drop in the autumn. My main concern is wealth preservation/appreciation against pound sterling. With a possible longer term move to a near parity of dollar with pound it may not be worth trading and holding some Ag as a currency along with Au. Further down the road inflation could be/is lurking. Link to comment Share on other sites More sharing options...
romans holiday Posted March 18, 2010 Report Share Posted March 18, 2010 No, I've only recently bought back in after being out of GM silver for a few months. IMO it isn't worth the risk of trading anymore, you run the risk of missing the big one! I'm in it until the end now. I definitely feel that way with gold [though also keeping a reserve]. I'm thinking silver is behaving differently for now and in the short/ medium term we may see this repeating pattern against the dollar. Link to comment Share on other sites More sharing options...
warpig Posted March 19, 2010 Report Share Posted March 19, 2010 So say we all! My main concern is wealth preservation/appreciation against pound sterling. Link to comment Share on other sites More sharing options...
warpig Posted March 19, 2010 Report Share Posted March 19, 2010 It is behaving differently, it feels very bullish at the moment IMO. I presume this wasn't what you meant... Are you still holding out for the Pretcher precipice? I subscribe to Puru Saxena's news letter and he feels stocks and commodities will rise for probably another 6 months. He was the first I've heard say this given everyone else was/is expecting the next leg down, I think he's right and to be fair he hasn't made a bad call yet, at least as far as I'm aware. I definitely feel that way with gold [though also keeping a reserve]. I'm thinking silver is behaving differently for now and in the short/ medium term we may see this repeating pattern against the dollar. Link to comment Share on other sites More sharing options...
romans holiday Posted March 19, 2010 Report Share Posted March 19, 2010 It is behaving differently, it feels very bullish at the moment IMO. I presume this wasn't what you meant... Are you still holding out for the Pretcher precipice? I subscribe to Puru Saxena's news letter and he feels stocks and commodities will rise for probably another 6 months. He was the first I've heard say this given everyone else was/is expecting the next leg down, I think he's right and to be fair he hasn't made a bad call yet, at least as far as I'm aware. Behaving different as in more in tandem with commodity currencies and still within the dollar orbit. Gold imo has pretty much decoupled from this and is starting to behave more like a reserve currency. I'm not so much holding out for a Prechterite collapse as hedging for it. Though I half suspect 3 digit prices sometime this year, I'll start to average in a little each month.... but into gold not silver, which I'd sell at 18/ 18.50. If I get it wrong on silver, I'll still have my gold. I just think silver is more speculative than gold. Link to comment Share on other sites More sharing options...
warpig Posted March 19, 2010 Report Share Posted March 19, 2010 I would almost argue the same for silver, it's more resilient than I've ever seen it, it's certainly showing signs of decoupling from gold/usd IMO. It always will be more speculative, but I do feel it's role as poor man's gold will strengthened. At current prices it's accessible. The dollar's struggling to stay above 81, why not buy some miners? I just think silver is more speculative than gold. Link to comment Share on other sites More sharing options...
romans holiday Posted March 19, 2010 Report Share Posted March 19, 2010 I would almost argue the same for silver, it's more resilient than I've ever seen it, it's certainly showing signs of decoupling from gold/usd IMO. It always will bemore speculative, but I do feel it's role as poor man's gold will strengthened. At current prices it's accessible. The dollar's struggling to stay above 81, why not buy some miners? Dollar is showing a bit of strength today [nearing 81] with silver and gold down a little [just funded GM so am hoping for gold to decline a bit here]. I'm just sticking with gold as a buy and hold due to my deflationary outlook. I think gold will hold up a lot better if we do see markets sell off at some point. If my Prechterite hedge for lower prices pays off, I'd be keen to buy some miners as they should do well in the end... though, like silver, a bit speculative in this environment. Link to comment Share on other sites More sharing options...
warpig Posted March 19, 2010 Report Share Posted March 19, 2010 Unless some form of forced liquidation happens, I think the USD IDX has topped here FWIW. Dollar is showing a bit of strength today [nearing 81] with silver and gold down a little [just funded GM so am hoping for gold to decline a bit here]. I'm just sticking with gold as a buy and hold due to my deflationary outlook. I think gold will hold up a lot better if we do see markets sell off at some point. If my Prechterite hedge for lower prices pays off, I'd be keen to buy some miners as they should do well in the end... though, like silver, a bit speculative in this environment. Link to comment Share on other sites More sharing options...
Jake Posted March 20, 2010 Report Share Posted March 20, 2010 I would almost argue the same for silver, it's more resilient than I've ever seen it, it's certainly showing signs of decoupling from gold/usd IMO. It always will be more speculative, but I do feel it's role as poor man's gold will strengthened. At current prices it's accessible. I agree. Silver is very good value. And very within reach of everyone. For the price of a bottle of wine you can buy a lovely 1 0z coin. Gold is seen as 'expensive' to many at nearly 800 quid a pop. Of course this kind of thinking is a bit skewed but that is how it will seem looking at buying for the first time. There's lots of possible upside to silver and the downside feels not too steep. I wouldn't play with silver simply as a trade. Maybe if it's 15:1, otherwise it is worth holding IMO. Otherwise just keep focussed on the ball and driving it through covers for a leisurely single or so. Link to comment Share on other sites More sharing options...
nicejim Posted March 21, 2010 Report Share Posted March 21, 2010 For the price of a bottle of wine you can buy a lovely 1 0z coin where do you get ounces for £2.49? Link to comment Share on other sites More sharing options...
Jake Posted March 21, 2010 Report Share Posted March 21, 2010 where do you get ounces for £2.49? Wine. I do occasionally drink that 476 Yen a bottle stuff but I wouldn't call it wine. Link to comment Share on other sites More sharing options...
InSilverWeTrust Posted March 26, 2010 Report Share Posted March 26, 2010 Bill Murphy let this out of the bag in the CFTC meeting! A London trader walks the CFTC through a silver manipulation in advance http://www.gata.org/node/8466 Link to comment Share on other sites More sharing options...
warpig Posted March 26, 2010 Report Share Posted March 26, 2010 I hope something comes of this... Can you imagine what silver would really cost in a free market... Bill Murphy let this out of the bag in the CFTC meeting! A London trader walks the CFTC through a silver manipulation in advance http://www.gata.org/node/8466 Link to comment Share on other sites More sharing options...
romans holiday Posted March 29, 2010 Report Share Posted March 29, 2010 Have been following the correlation of silver with commodity currencies lately. If we see NZD go to 72, then silver could also easily go through 18. Once the dollar starts to strengthen against commodity currencies then silver should also move back down. I'm looking to sell silver at 18. Don't trade gold. Link to comment Share on other sites More sharing options...
Pixel8r Posted March 29, 2010 Report Share Posted March 29, 2010 Have been following the correlation of silver with commodity currencies lately. If we see NZD go to 72, then silver could also easily go through 18. Once the dollar starts to strengthen against commodity currencies then silver should also move back down. I'm looking to sell silver at 18. Don't trade gold. But you already sold at $15.50 as you are deflationist. How can anyone believe a word you say when you constantly contradict yourself. If you actually did some research into the cartel and the monthly takedowns at options expiry each month, you wouldn't possibly be thinking of sell around the 24th-26th of each month. For those interested monitor what happens to the gold and silver price before each options expiry. The dates for options expiry for the year are listed on this link; http://www.smartfutures.net/tools/optionexpirations.htm My advice to you is steer away from silver as your belife in deflation and refusal to comprehend the gold cartel will mean you carry on selling at the wrong times. I expect you to ban me again now for being an aggressive troll and not offering anything of value to this site. Go ahead make my day. Sold for around $15.50. The bulk had been bought at around 12/ 13/ 14 dollars... so all up at least broke even. I probably could have stayed in it until we saw 17 or 18 again, but I decided to get out of silver [as a long term core position] as - being a deflationist - I came to the realisation that there was just too much risk hanging over it. This was confirmed for me when it broke it's long term support. I put together a thread on this at the time. Actually, looking back, I was speculating on silver... that the ratio would go to 55 or 50 and I could then swap to gold. I will stick to buying gold in the future when "investing" and when speculating look to do something like the above posts outline. I don't think silver is a substitute for gold, which looks to me a lot safer. Link to comment Share on other sites More sharing options...
romans holiday Posted March 29, 2010 Report Share Posted March 29, 2010 But you already sold at $15.50 as you are deflationist. How can anyone believe a word you say when you constantly contradict yourself. If you actually did some research into the cartel and the monthly takedowns at options expiry each month, you wouldn't possibly be thinking of sell around the 24th-26th of each month. I sold my core buy and hold silver because as an [unconventional] deflationist, I decided silver would underperform gold rather than be a leverage on gold. This went into gold, dollars, and also, shortly, into a hedging instrument should we see all markets crash again, gold included. I don't sell or trade gold, but I will silver. I still have a smaller amount to trade.... looking to jump soon. I think silver will just remain super volatile against the dollar, and accordingly would be good to trade. Because I consider both the dollar and silver good currencies to have, this trade should be relatively easy to make. As a deflationist, I don't face a wall of worry when selling silver for dollars. As a hyper-deflationist, where I see modern currencies becoming less stable, it is also easy to buy silver. In the end, silver will most probably break out, but for now I think it will remain range bound due to deflationary forces, and should be traded in order to profit from it. I consider silver more of a super commodity currency moving in tandem with other commodity currencies. Gold imo is different to silver, and is starting to behave like a reserve/ prime currency. Silver 17.24..... itchy fingers As for the cartel, why not use it to your advantage? You are convinced silver is being "taken down", so why not trade it? I just take markets as I find them, and most probably they are corrupted - whether by herd behaviour or malevolent agencies such as the cartel - I just consider that part of the dirty old market. Rather than rule them out altogether, I just take a kind of agnostic approach towards these malevolent agencies, and a pragmatic one towards the market. Besides, there are other more mundane forces at work keeping bullion prices from going to the moon imo. Link to comment Share on other sites More sharing options...
Fortune Posted March 29, 2010 Report Share Posted March 29, 2010 But you already sold at $15.50 as you are deflationist. How can anyone believe a word you say when you constantly contradict yourself. If you actually did some research into the cartel and the monthly takedowns at options expiry each month, you wouldn't possibly be thinking of sell around the 24th-26th of each month. My advice to you is steer away from silver as your belife in deflation and refusal to comprehend the gold cartel will mean you carry on selling at the wrong times. Can't you just give it a rest now? It's all very clear what you think about RH so just leave it be, eh? Why come back to start a fight...it's so petty. Link to comment Share on other sites More sharing options...
chazza Posted March 29, 2010 Report Share Posted March 29, 2010 Can't you just give it a rest now? It's all very clear what you think about RH so just leave it be, eh? Why come back to start a fight...it's so petty. +1 Link to comment Share on other sites More sharing options...
electroweak Posted March 29, 2010 Report Share Posted March 29, 2010 Gold:Silver ratio now down to 63.8 - still of course very high in historical terms. Where's GF when you need him! Link to comment Share on other sites More sharing options...
grumpy-old-man Posted March 30, 2010 Report Share Posted March 30, 2010 Gold:Silver ratio now down to 63.8 - still of course very high in historical terms. Where's GF when you need him! physical silver is so undervalued now, it's a steal at the current value imo. Link to comment Share on other sites More sharing options...
Jake Posted April 1, 2010 Report Share Posted April 1, 2010 physical silver is so undervalued now, it's a steal at the current value imo. At 63 oz to gold it certainly seems like a steal doesn't it? I think anywhere under 20 bucks is a bit of a steal. Of course however, most physical is above 20 bucks now though. Will be interesting to see how the next few days/weeks go. BTW GOM can you tell us how Devon is going? How are you finding it down there? Your info still says Wakefield btw. Link to comment Share on other sites More sharing options...
Concrete Jungle Posted April 1, 2010 Report Share Posted April 1, 2010 Silver having a good day up to $17.93. Making me quite pleased with my decision to buy more physical last wek, rather than this week. Link to comment Share on other sites More sharing options...
romans holiday Posted April 1, 2010 Report Share Posted April 1, 2010 Out at 17.90. Link to comment Share on other sites More sharing options...
Jake Posted April 3, 2010 Report Share Posted April 3, 2010 Out at 17.90. And into...dollars? Or gold ? Link to comment Share on other sites More sharing options...
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