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Thread: Ouch, Silver will drop to $24 now

  1. #1
    Join Date
    Sep 2009
    Posts
    570

    Default Ouch, Silver will drop to $24 now

    Dam, that's not good.

    Most of you will remember my $26 prediction a few weeks back and all the knives throw my way. I know, the clock strikes 12:00 twice a day.

    Back up the truck at $17 to $18. I will.

    JP Morgan is unwinding a lot of shorts in silver, the IMF is buy 220 tonnes of gold. so something is definitely up.

    Those JP Morgan trading loses were an unwind too, not an opps. Something big is coming.

    Repeat of 2008 (dollar strengthens, metals collapse, then "bazinga)?"

  2. #2

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    you got it right IMO, I predict we will break through the 26 support and head to 15-17 if my charts hold.

    this has nothing to do with supply and demand.......I dont trust our govt for a minute these days. the head guy and his adm are about to put the screws to us all I'm afraid.

    there are tapes out now that have him taking lessons from Rev Wright about how to act like a Christian......its on the tapes, we've been had because so many people are such idiots in this country.......IDIOTS
    Just remember, wherever you go, there you'll be.

  3. #3

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    I pray for $18 silver and I will sell anything I can to raise cash to buy buy buy!! 2008 crash happened due to different reasons though I think, so I dont think silver will fall below $20..
    Jim Callaghan 1976
    We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step.

  4. #4

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    Sell sell sell. Buy again in December once it's $9 an ounce.
    Have a plan and stick to it. Duh!!

  5. #5

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    My silver stack is losing it value big time. I will take the big lost before I would consider selling it. I have silver I paid 17.00 an ounce. I started at that price and bought all the way to 48.00 dollars over the last 2 years.Most of my silver is in the 31.00 to 34.00 range. I bought 8 ounces of American silver eagle at 48.00 an ounce during the big run up..If I was to sell now I would take a pretty bad lost. I'm considering buying as much as I can to bring my DCA lower.I have 30,000 to invest in cash waiting for this huge price drop.My only answer to this is to buy more.

  6. #6

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    Quote Originally Posted by Terrible_fate View Post
    My silver stack is losing it value big time. I will take the big lost before I would consider selling it. I have silver I paid 17.00 an ounce. I started at that price and bought all the way to 48.00 dollars over the last 2 years.Most of my silver is in the 31.00 to 34.00 range. I bought 8 ounces of American silver eagle at 48.00 an ounce during the big run up..If I was to sell now I would take a pretty bad lost. I'm considering buying as much as I can to bring my DCA lower.I have 30,000 to invest in cash waiting for this huge price drop.My only answer to this is to buy more.

    That 8 oz's you bought at 48 if you sold now would be $160 loss. Not a big deal really considering you have 30K to invest. If you don't mind posting a little more info, approx. how much do have in the 31 to 34 range?

  7. #7

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    Quote Originally Posted by cornflakesdisease View Post
    Dam, that's not good.

    Most of you will remember my $26 prediction a few weeks back and all the knives throw my way. I know, the clock strikes 12:00 twice a day.

    Back up the truck at $17 to $18. I will.

    JP Morgan is unwinding a lot of shorts in silver, the IMF is buy 220 tonnes of gold. so something is definitely up.

    Those JP Morgan trading loses were an unwind too, not an opps. Something big is coming.

    Repeat of 2008 (dollar strengthens, metals collapse, then "bazinga)?"
    Wat chu talkin' bout ConeFlake?!!? Why come u say Dat!?!!

    Silber be twunta fo dollas I says yay! Dats Rite!!!
    Last edited by Silver Bull 1; 05-14-2012 at 07:21 PM.

  8. #8

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    I have 40 ounces in 90% silver dimes and half dollars. I have 120 ounces in Canadian Grizzly, Cougar,Wolf,Moose coins from 36.00 to 40.00 a ounce. I have another 120 ounces in ASE coins. I have many of them in the 28.00 to 34.00 price range I have 175 ounces in Scottsdale bars and rounds and another 100 ounces in art bars and other rounds. The Scottsdale stuff was in the 28.00 38.00 area. I own 15 sets of the 2011 25 Anniversary ASE sets and I have several Lunar Tiger and Dragon coins that I'm not counting. They are collectables and I don't have many of them since they are expensive.I worked real hard to get the best prices I could find at the time, but I come up lacking in the end.

  9. #9

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    not for nothing but quite a few of us have been saying silver's going to 26ish for a long time now, two of the big things in the physical stacking game are patience and resolve. i personally never buy "all i can" at any given time.

  10. #10

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    @Terrible fate

    I would hold on to your collectibles but consider selling off the rest when the market returns to the break even point, that is the price range of what you paid. You say you have many in the 28 range then consider selling those now while you are still able to at least break even. I did this myself when spot price last touched the 37 area. BTW the Canadian Wildlife coins are considered semi-numismatics, especially the wolf coin.

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