Sell Everything Else and Buy Silver

epic call - let's book mark this thread. 25% down on unlevered capital in less than 2 weeks. i guess the poor man committed suicide after this...

 

No, but he's probably crying after dumping his Elvis memorabilia on ebay to afford food.

 

I bought some silver yesterday afternoon for the first time, and I plan to buy some physical this week. The chart looks dismal, but I have a hard time believing that we are entering an era of currency stability and that QE3 is permanently off the table. The physical will also be to satisfy my quiet worries that Canada (where I live) will eventually suffer "Dutch disease" and $CAD will fall off a cliff. I won't be backing up the SUV because I give it only a small probability, and anyway if $CAD plummets because of falling commodities silver is unlikely to be my savior.

And while I am dishing out my Joanne the Plumber snippets of wisdom, I am FINALLY moved to reduce my cash/bond position (which was approx 75% of TNW since 2007/8) and go into tech, industrial, biotech and energy stocks. For the most part, me and my Manolo Blahnik heeled friends sat out the 2009/10 rally but we can't resist a good sale.

 

Bought a small position in dec silver (below $30). Up already. Some of the recent sell off must be due to margin raises (yes, i know only announced late friday, but news must have been leaked).

I know I'm bottom fishing, but it's a miniscule position. Might add if it hits 3100, we shall see.

 

Wise of you to ignore the saynayers here re silver. The attached chart shows that silver is cheap denominated in common stores of value. The Commodimetrics model of silver in the bottom study has been misinterpreted here to be a harbinger of price appreciation in dollars. Rather it is an indicator of when silver has relatively greater value than other commodities regardless of the general state of the markets at the moment. Silver is now better than a buy, it is a steal.

 

Hope you own some gold, too. The gold analytics look very good now, though not as good as silver. If you are already loaded up on gold, I recommend owning roughly fifty times as much silver by weight as you have gold.

 

If I am reading the thread right, he never said HE was buying silver, only that YOU should.

 

Keep the gun collection.

-burn8

 

I would say "Sell off as many guns as you have to to be able to count what's left on fingers and toes."

 

yes. i understood that. but his statement still constitutes a call on silver...