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Silver Shoes
6th March 2008, 00:02
Greetings, folks. I'm new here and thought I would start with this.

No, I don't think we are near a top in the price of silver, but it could be fun to consider the signs we would see to let us know we were at or near a top.

Here are my ideas:


The US Mint and other mints offer silver bullion coins in fractions of ounces
You see long lines in front of pawn shops, coins shops, etc. of people cashing in their silver
Those long lines show up in the paper and on TV
Media outlets begin discussing the shortage of silver and what government should do about it
Windfall profit taxes and outright expropriation are forced on silver miners
Mainstream magazines write articles on silver
Mutual funds devoted to silver proliferate


What do you think?

ADUB
6th March 2008, 16:04
I definately think that when I hear it on the evening news or read about it in newsweek or money magazine, we are at the top. It's like realestate. When everyone was trying to flip, I knew it was over.

Silver Shoes
6th March 2008, 17:37
That was one I forgot to put in: get rich quick on silver schemes are advertised on radio and TV.

loser72555
6th March 2008, 20:35
Greetings, folks. I'm new here and thought I would start with this.

No, I don't think we are near a top in the price of silver, but it could be fun to consider the signs we would see to let us know we were at or near a top.

Here are my ideas:


The US Mint and other mints offer silver bullion coins in fractions of ounces
You see long lines in front of pawn shops, coins shops, etc. of people cashing in their silver
Those long lines show up in the paper and on TV
Media outlets begin discussing the shortage of silver and what government should do about it
Windfall profit taxes and outright expropriation are forced on silver miners
Mainstream magazines write articles on silver
Mutual funds devoted to silver proliferate


What do you think?

Silver or gold will probably be at a top (or near it) when you see five straight limit up days on the inside comex futures contracts. I know of a guy who did that and got out of gold (actually went short) at SIX HUNDRED DOLLARS AN OZ in 1980. He had the assets to stay with the trade (it went to 850 an oz!!!!) and then rode it down to 300.

If we can continue to have the kinds of days we have seen in the volatility, it will be time to move into the options markets. I am scared to enter any new positions (I am currently long 8 silvers and 5 golds). However, I will short options, which are a great way to pick up premium OR to get some discounted silver/gold.

JesterJay
6th March 2008, 21:06
10. You can buy a nice house in South Dakota with a roll of Eagles.
9. Hiphop Homies have SILVER bling in their grills.
8. Everyone holding worthless certificates are asking, "Buddy can you spare an ounce?".
7. Silver Eagles are more rare than Bald Eagles.
6. ...Or Gold Eagles
5. Burle Ives' old standard "Silver and Gold" is rewritten "Silver is Gone!"
4. In the Olympics they award SILVER for First!
3. Ted Butler is appointed to be Head of the Fed.
2. The US Airforce is secretly working overtime developing "cloud liner removal" technology.
1. Life no longer takes Visa.

And that's the truth,
Jay the Jester from South Dakota

Silver Shoes
7th March 2008, 00:07
Good one, Jay.

prahudka
7th March 2008, 16:36
Greetings, folks. I'm new here and thought I would start with this.

No, I don't think we are near a top in the price of silver, but it could be fun to consider the signs we would see to let us know we were at or near a top.

Here are my ideas:


The US Mint and other mints offer silver bullion coins in fractions of ounces
You see long lines in front of pawn shops, coins shops, etc. of people cashing in their silver
Those long lines show up in the paper and on TV
Media outlets begin discussing the shortage of silver and what government should do about it
Windfall profit taxes and outright expropriation are forced on silver miners
Mainstream magazines write articles on silver
Mutual funds devoted to silver proliferate


What do you think?

Tell you what. I am going to the store Tuesday. Why don't you get 25 or 30 of your closest friends. Get them to line up outside your local pawn shop. Video it. Put it on youtube with the headline "panic for silver". Just run it Wed. or later.

In fact, lets start a volunteer effort. Everone puts in two hours visiting all their favorite blogs with the following post, "Boy that silver sure is hot. Too bad my dealer never has as much as I need."

We can be full of s*&^ just like the big guys!

Actually, I am just a rare coin collector, so I don't care. Just kidding, really. I would value being able to sleep above being a schill/market manipulator.

Kelly
10th March 2008, 10:51
Where is the "top" in silver? You've reached the top when everybody decides they don't need their cell phones, refrigerators and microwaves and no one is building circuit boards for the computer industry. You've reached the top when the world's defense industries no longer need silver to get all their electronic gadgetry to run, or the medical industry no longer needs silver to keep their machines running.

When silver peaked in the 80's and then tanked, the only industries using silver in a big way was the photography industry and jewelry. It's a whole different ball game today. Silver is the most electrically conductive metal around and you can't have an electronics industry without it. Every ounce of silver taken out of the ground today is being used by industry. Silver is getting rarer and rarer with every passing year. Gold is not an industrial commodity, and silver today is five times rarer than gold.

Theoretically, there is no top to silver.

macho trader
13th March 2008, 15:42
maybe so maybe not