Sell Everything Else and Buy Silver

Discussion in 'Commodity Futures' started by Fleming Snopes, Sep 12, 2011.

  1. Visaria

    Visaria

    I have a fair amount of physical gold. I'm waiting (and hoping) for a further correction to around $1300 before i buy more (long term, not trading).

    I exited the silver futures position at $33.
     
    #21     Sep 27, 2011
  2. The attached chart shows gold kissing a 17% retrace (an obscure fib) and the 150 day simpleton moving average. I don't think you're going to get a much better price in dollars. Good move on the silver. If gold is money, then silver is play money.
     
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    #22     Sep 27, 2011
  3. Visaria

    Visaria


    I just read your post and i don't understand it. What does gold is money and silver is play money mean?

    Gold is ok to trade and speculate on atm, but i fully expect it to decline to around 1100-1300, maybe by the end of the year. I'll happily buy for the long term then. If i'm wrong, i hold plenty of physical gold anyway.
     
    #23     Sep 29, 2011
  4. You never sell gold. You trade silver.
     
    #24     Sep 29, 2011
  5. jsp326

    jsp326

    The better rule is probably: don't sell physical (silver or gold). Trade with ETFs, futures, mining shares, options and the rest.

    Actually, I might sell physical if we reach one of those famous ratios (16:1 silver/gold or Dow = Gold, etc.), but only if it looks like some financial stability is on the horizon as well. I don't see that any time in the near future.
     
    #25     Sep 29, 2011
  6. Visaria

    Visaria

    For the time being (i expect for years), i have no intention of selling my physical gold. But nothing is a permanent store of value.
     
    #26     Sep 29, 2011
  7. Crispy

    Crispy

    Im down 10 bucks a share on your call. Now what fucko?
     
    #27     Sep 29, 2011
  8. Average down. The analysis is not about immediate gain. It is about where to put your cash that has more long term value than cash.
     
    #28     Sep 29, 2011
  9. Visaria

    Visaria

    FWIW, i'm expecting silver to hit the lows again ($26 ish) at some point. If i'm right about gold going to 1100-1300, silver will go down with it.
     
    #29     Sep 29, 2011
  10. Visaria

    Visaria

    You actually bought silver because of some no-one on the internet said so? :D
     
    #30     Sep 29, 2011