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prahudka
8th August 2008, 09:07
First, I never saw 15.50 coming in 2008.

However, one thing silver has done is teach me how to save money. I am building for the future. End or story.

No regrets here.

The short mothers are going to have do a lot better than this to dislodge me.

Longhaul
8th August 2008, 09:23
No dislodging here also, only an opportunity to buy more and bring down my average price/oz.

A bit unsettleing watching it fall though; is this what Ted B. meant by holding on to the tail?

prahudka
8th August 2008, 09:45
No dislodging here also, only an opportunity to buy more and bring down my average price/oz.

A bit unsettleing watching it fall though; is this what Ted B. meant by holding on to the tail?

I guess that would be the tail. Sometimes the tail has dingleberries!

However, this is not like owning stock. Companies can go Chapter 7. Bear Stearns had a tail for sure.

But, Silver is money.

silver wink
8th August 2008, 10:44
I hope and think that this is like a blow-off bottom ( a bit like an old fart) ALL measures show that this sell-off in commodities is oversold. ALL articles that I read, talk about supply and shortage problems in the silver market. My own experience shows me that the demand for physical is real, strong and growing.

I hope that the paper-sellers are totally overwhelmed in this round. The rise in the dollar is unbelievable and so should not be believed (refer James Turk article http://www.goldmoney.com/en/commentary.php#current )

I hope that this is the last act of desperation of the fiat money promulgaters



BUT, if it isn't, my kids will surely love all that silver in future years........

skijake
8th August 2008, 11:17
I thought the 8s were lucky. The luck seems to be the ability to buy silver at a discount. The week will end and the sun will rise. Wait till you see the other side of the coin. It will be just as dramatic the other way.

hiyosilver
8th August 2008, 11:51
I pulled up this chart and found it interesting. Since we are already currently below the 300 DMA, (this is yesterday's chart), I think we'll either bounce at the 400 DMA or continue down to the 500 DMA as we did last year. I actually hope we do, because IMO, the lower we dip now, the higher and faster our upleg will be. We all know the fed data is BS and the real condition of the dollar is not what it's presenting itself to be currently.

duneyman
8th August 2008, 12:09
I have lived through many of these silver crashes and I am handling it a lot better than the others. This is the first time that I wasn't surprised at all that the price has dipped so low. Experience is the best teacher so just keep the faith and we should all be rewarded.

Prohobo
8th August 2008, 12:27
I am actually looking forward to buying some this afternoon at the dealer.

Also bought some SLV and DBS today as well.

I got word that there is some massive short covering in the dollar - which I think is trickling over to the commodity based metals that are inflation hedges. The unwind is pretty huge - in the billions. Sending both the Euro, Pound, and Franc into the toliet as well.

I think I want to back up the truck at these levels and by some more.

prahudka
8th August 2008, 12:56
I have lived through many of these silver crashes and I am handling it a lot better than the others. This is the first time that I wasn't surprised at all that the price has dipped so low. Experience is the best teacher so just keep the faith and we should all be rewarded.

Even if you dont keep the faith, there are two ways to look at it:

1. I could have held on to my money in the spring of '08 and bought another 25% at these lower prices. THis is pointless. Anywhere you put you money, damn few of us are good enough to pick an absolute bottom and the same thing would have happened.

2. 401Ks are on average losing 25%. So, we aren't special, except the investment is not in anything that can go Chapter 7.

Obviously the market is coming back up in the fall.

So, stagger, take a couple of deep breaths, collect yourself and come out swinging again.

JaySpizzy
8th August 2008, 15:12
Call me stupid, but going below the 300 day MA is grounds for celebration. It means you have some idea how fast silver is going to bounce back. We just left 19.00 for pete's sake!

prahudka
8th August 2008, 15:24
Call me stupid, but going below the 300 day MA is grounds for celebration. It means you have some idea how fast silver is going to bounce back. We just left 19.00 for pete's sake!

Where are the freaking billionaire's? That would change things in a hurry.

Lets remember that 30 days ago, PM was actually getting some respect in the media spin cycle.

Strange times. Things change so quickly and are bound to keep changing.

JesterJay
8th August 2008, 15:59
OMG, to coin a phrase.
I'd like to revise my UP value at the end of the year to $42 please.
The Quickening is HERE.
We are in Stage 1!
JesterJay
Buy ALL you can, they won't make more!!!



Where are the freaking billionaire's? That would change things in a hurry.

Lets remember that 30 days ago, PM was actually getting some respect in the media spin cycle.

Strange times. Things change so quickly and are bound to keep changing.

clr8ter
9th August 2008, 08:41
While I do find these big drops a little unsettling, I am glad I waited to throw in my next 10K. I'm going to watch closely and buy when & if it goes lower. A small move in the spot price is a big move on a Monster Box........