should HSBC Bank and JP Morgan default on their short positions this would cause a huge upswing in the price of silver.....this is why I just dont trust paper silver...or paper gold for that matter!
well, it did correct more, and if history is any guide it should still fall a bit more to around low 30's as that would make it a 30% correction which it has done 4 times in the last 10 years!
if everybody in the western world just buys one ounce of silver each that would totally destroy those two banks!
Long 1000 shares SLV; trade date 4/29/20211 sold @ $7.00 cost net proceeds to IRA = $46,934.XX. mmm...mmm...mmm sweet.... Looks like one functional brain cell had the speculation ticket eh: physical buyers? Yip YIP YAHOOOOOOOOO!!!!! I say..... Me overpriced $.02, JR
You use yer truck.....WHICH IS FOOLISH!!! All I have ta do is use me keyboard, (not sayin' when I'll reload).... me trade anytime from 6:30 AM Seattle time to 1:00 PM costs only $7.00 fer 1000 shares or 10,000 shares.... same ta unload in 5:00 Minutes ta five years later..... NOT INVESTMENT ADVICE, only one functional brain cell, yer milage may vary, JR
I just buy the physical and then as the price rose too fast I shorted a stock called silver standard........I didnt protect all my money but just enough to buy more when it bottoms out soon!
personally....I just dont trust paper silver! I am not saying its bad or anything...its just not for me!
The fact silver went back down just days after I sold my one and half ounces of silver makes me glad I sold it sooner, not that it would of mattered. One and half ounces of silver wouldn't of been enough to make a difference anyways. I still have most of my (mostly) silver coins anyways (since I got more than three several years ago), including a 1922 Peace Dollar, a New Orleans-made Barber Dime, various pre-64 coins, and several Wartime Nickels. What I sold was a 2003 Silver Eagle (got for $, half-ounce pure silver coin (was given to me), and a Franklin Half Dollar (got for $3.50). I got $85 dollars back and could of gotten over a $100 if I sold my Peace Dollar to.
When yer speculatin' the least of yer worries is the counter parties, (the stress in counter parties will show up in the paper yer charting), well before anything actually blows up. Ya got's ta know what yer doin' when speculating in anything.... stocks, bonds, commods, et al... I take delivery of me stored food, ammo, n' guns, n' barrels of fuel fer me toys.... the rest is speculation (at this point in time), IMHO. Only an opinion: yer milage may vary.... NOT INVESTMENT ADVICE.... JR
To each his own. You're the one who's gonna be left stranded with worthless paper when the shortage hits.
exactly....if HSBC and JP Morgan default on their short position those paper silver certificates will become worthless!
you know....something I find interesting!!!!! A few days ago Soros says he was a seller in silver.....today the news comes out that they are rising the margin requirements to hold a position in silver.... from 8,000 dollars per 5,000 ounce contract to 16,000 dollars....so there must be many sellers that just cant meet the new higher margin requirements as they may have several positions! This is proof that Soros is a crook and has inside information. Anyways......people will get used to the new higher margin requirements and soon a base will be established and the next leg up will resume....of course the dummies on CNBC are all trumpeting that the silver bubble burst blah blah blah....funny how they never talk this way when the DOW collapses.....they make way more in paper in the form of commissions and other bonuses then in other investments. You see I understand this....this is why their advice is so biased.....like asking a realtor if its a good time to buy a house......they will always say yes!
Ya do know that at the peak last week that silver was only five standard deviations off the trend don't ya? Duh....... burp..... Yeah I wanna buy some n' take delivery.... duh yup.... duh yup...
yes, but taking delivery many more than 5 standard deviations below the 200 day MA was very nice. Perhaps a nice move below the MA will spur an equally impressive move to he downside, for a nice buying opportunity, Just in time for QE3.
Good point.... if yer gonna build a stash at the lows.... pay attention ta price... Doubt it will crack that badly..... Only an opinion yer milage may vary......
better yet dollar cost average....nobody can pick the top or the bottom so by spreading your purchases you can average out your cost! I have been buying since the 90's but really started buying more in 2002...my average price is very low...not sure what it is but it must be under 8 dollars!
Wow if ya have a bunch @ $8.00 average cost.... I'd beeeeeee reeeeeeeeel tempted ta lock n' load.... a bunch of it.... Silver doesn't pay rent/dividends, n' costs opportunity $ ta hold fer the long term. Dollar cost averaging a commod is not a proven way ta make money as the trends are so far appart, (30 years give or take)... United States equities have many decades of proven results. N' even though I'm a bear on income realestate, it does as well. Silver doesn't have anything like that as to track record. You may have seen the highs this cycle, (n' it maybe 30 years before ya get to the peak of the next one), with the rally of the buck and the crest of the rest of the commods, I'd sure lighten up, (only one functional brain cell here). Never met anybody who went broke takin' and occasional profit..... have you? NOT INVESTMENT ADVICE.... jus' the musins' of a hillbilly from the Left Coast.... JR
as I have said many times already.....until interest rates rise then silver has nowhere to go but up!
No, we haven't seen the highs this cycle. More importantly, the supply/ demand dictates that silver is still under-priced. The speculators influence the price in the short term, but the fundamentals always dictate what will happen in the long term.
