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Old 05-08-2012, 11:09 PM
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Silver dropped below $29 on the spot market.

www.kitco.com
SPOT MARKET IS OPEN
( closes in 17 hrs. 14 mins.)
Metals Date Time (EST) Bid Ask Change from NY Close
Gold Charts GOLD 05/09/2012 00:01 1589.60 1590.60

-15.20


-0.95%
Silver Charts SILVER 05/09/2012 00:01 28.91 29.01

-0.56
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Old 05-08-2012, 11:18 PM
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Quote:
Originally Posted by SunwolfNC View Post
I blame me for this. It was on the way up and up until I bought some recently.
Sorry!
I have the same luck. If I buy something, it's going to go down, and fast (even if it had stayed at the same price for the past several months before I bought it).

If I sell something, it's almost guaranteed to go up and stay up, and usually it does this the next day.
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Old 05-08-2012, 11:31 PM
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Quote:
Originally Posted by Long Shot View Post
I think there are going to be some good buying opportunities over the next year or so. I'll be watching real close in the 26$ range. I'd like to see it bounce strong off $26 before I'd be a buyer. If it blows through 26$ the next stop is 18$.

I think it is looking like a reversal right now but still a tad early to tell for sure. The last high broke the previous trend and the new low has not broke through the trend bottom yet. If it does not break through the trend bottom then I think we will see a reversal in the trend and it will climb higher. Watch the Eurozone closely boys and girls.
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Old 05-09-2012, 01:43 AM
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Quote:
Originally Posted by klickitat View Post
I think it is looking like a reversal right now but still a tad early to tell for sure. The last high broke the previous trend and the new low has not broke through the trend bottom yet. If it does not break through the trend bottom then I think we will see a reversal in the trend and it will climb higher. Watch the Eurozone closely boys and girls.
We won't know until these indicators play out. I'm not saying it will go down. I am saying 26$ is a strong indicator. Your use of the word "yet" is the key here. I don't feel I have enough information to make a prediction yet. After a couple weeks watching the 26$ range I'll feel more comfortable. It could take a few weeks; it could take a few days.
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Old 05-09-2012, 08:37 AM
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$29.92 as of now on Amark
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Old 05-09-2012, 08:56 AM
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Quote:
Originally Posted by dealfinder500 View Post
I have the same luck. If I buy something, it's going to go down, and fast (even if it had stayed at the same price for the past several months before I bought it).

If I sell something, it's almost guaranteed to go up and stay up, and usually it does this the next day.

I hear you.

What you are talking about is called 'traders memory'. It is a human thing that you have to recognize and train yourself to understand.

Humans tend to remember bad things and give them more weight than the good things they have done. Particularly when it comes to trading. A good investor shrugs off his losses as part of the game.

I am not a good investor.
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Old 05-09-2012, 08:59 AM
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$28.86 / Still trending downward

the DOW is down 133.
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Old 05-09-2012, 09:05 AM
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Goldman Sachs just said that the Fed is going to print! BUY! BUY! BUY!
http://www.bloomberg.com/news/2012-0...es-easing.html

News is 12 hours old.
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Old 05-09-2012, 07:42 PM
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Markets closed

$29.17
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Old 05-09-2012, 07:46 PM
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If you won the lottery, and had $100K to throw around, what would you buy and how would you buy it?

Try to stick to PM's guys, and leave my girlfriend Halle alone...
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Old 05-09-2012, 07:54 PM
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Quote:
Originally Posted by txflyboy View Post
If you won the lottery, and had $100K to throw around, what would you buy and how would you buy it?

Try to stick to PM's guys, and leave my girlfriend Halle alone...
A silver house, made up of 100 oz bars, for my cat to sleep in.
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Old 05-09-2012, 08:02 PM
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A chart from Barron's. It's free stuff, so there is no infringe....I think

http://online.barrons.com/article/SB...ghlight_bottom

Analysts, including yours truly, have been following the development of head-and-shoulders patterns in most of the major indexes. Without delving too deep into the minutiae, this is a pattern of transition. Rallies weaken and pullbacks deepen as the trend in the market changes for the worse.

As it forms, several technical breaks often occur. For the S&P 500, they include a move below the 50-day moving average and the rising trend drawn from late last year. Momentum indicators, such as the relative strength index, turn lower and cumulative volume indicators, such as on-balance volume, often fall.


Basically, the head-and-shoulders summarizes all the other technical factors. When the index makes a convincing drop below the bottom of the pattern -- 1365 for the S&P 500 -- the reversal is complete and a new bearish trend is confirmed.

And that is the rub. Tuesday, the S&P 500 did indeed drop below the bottom of the pattern before rallying back at the close. Arguably, we can say the bulls swooped back in, refreshed and ready to push prices higher.





All this is saying is that the DOW is going to correct, they just don't know how far.
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Old 05-09-2012, 08:16 PM
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I really think they are going to push it down until June when it looks as though the Fed is going to do another QE. Right before they announce it, the institutional buyers will start buying and the price will start to climb and then skyrocket after the announcement.

just my .02
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Old 05-09-2012, 08:24 PM
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Quote:
Originally Posted by klickitat View Post
I really think they are going to push it down until June when it looks as though the Fed is going to do another QE. Right before they announce it, the institutional buyers will start buying and the price will start to climb and then skyrocket after the announcement.

just my .02

"the fundamentals argue that each dollar printed ensures an increase in value for each ounce of gold."


Quoted from Alan Newman straight out of a Barron's article.
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Old 05-09-2012, 08:27 PM
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completely agree, but that is only true when balanced against population growth. Now that does not take into account other factors such as the Chinese, Russians, Brazilians, Indians and so forth and so on dumping the dollar as a reserve currency. Eventually all of the QE will cause our dollar to become absolutely worthless.
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Old 05-09-2012, 09:54 PM
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Quote:
Originally Posted by txflyboy View Post
If you won the lottery, and had $100K to throw around, what would you buy and how would you buy it?

Try to stick to PM's guys, and leave my girlfriend Halle alone...
my shopping list;

1 of these

http://www.apmex.com/Product/65235/M...Coin_Tube.aspx

2 of these

http://www.apmex.com/Category/1206/S...ter_Boxes.aspx

and 1 of these

http://www.gunsamerica.com/907735464...21_Thompso.htm
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Old 05-09-2012, 10:05 PM
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Holy smokes, that last one which was a 1921 Thompson sub-machine gun was $30,000.00. And you have to feed that thing too....

That only leaves $70K to put in PM's.

If I had the money, I'd get one of the monster boxes ...
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Old 05-10-2012, 12:02 AM
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I like the way you think. I'd perhaps substitute the Thompson (while very cool) with a short barrel select fire M4-clone of some type.
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Old 05-10-2012, 01:02 AM
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Check out the green 200 day moving average. Gold has been under it only ~5 times in the last 10 years. This is a strong buy point to get in, or average up IMO.





I gotta give credit to 97guns for bringing my attention to the head and shoulders pattern technical chart. 97's got a good thread going on it.

https://www.survivalistboards.com/sho...d.php?t=233404

You know why he's 97guns? Because he has enough gold to own 97 guns.

Stick that in your pipe and smoke it "can't eat gold" nimrods.
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Old 05-10-2012, 01:25 AM
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Keep your Morgans,they aren't making any more of them. They are stamping out bullion coins by the ton. With Morgans you have silver,history and collector value. With bullion you have just the silver. I have a bag or so of silver dollars and a good amount of graded dollars. I'm not selling or trading any of the old stuff.

Selling into a down market is usually a sucker bet best left to others. Your Morgans are worth more than silver value in all but the worst condition. Depending on condition dates etc they could be worth a bunch more than silver value.

You are posting in a place where you could find those who would trade you bullion coins for your Morgans at fair rates if you were inclined. With a little research you may find a local collector that would do the same.

Keep your Morgans,enjoy the silver and absorb the history.

Red

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Originally Posted by JoeKan View Post
Help a bro out please. Should I dump 15 morgans to buy silver eagles or junk silver or should I hold on to them all the way down??
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