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Silver downside
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Thread: Silver downside

  1. #1
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    Default Silver downside

    I think there's more downside probability than upside probability. In spite of all the news coming out which should be bullish for PMs, they are still going down or sideways at best. I'm gonna wait until sub $24 to start accumulating.

    What's everyone else's accumulation point?

  2. #2
    Join Date
    May 2007
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    Default

    Quote Originally Posted by chroNick View Post
    I think there's more downside probability than upside probability. In spite of all the news coming out which should be bullish for PMs, they are still going down or sideways at best. I'm gonna wait until sub $24 to start accumulating.

    What's everyone else's accumulation point?


    I've committed to start buying under any of three circumstances.

    1. I hit a major lottery and just don't know what to do with all those FRN's

    2. The Dollar begins to collapse and I have to dump them for precious metals

    3. The spot price of Silver collapses below $7 and I just can't help myself any longer, no matter what my wife will say about it, "when she finds out"!
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  3. #3
    Join Date
    Aug 2009
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    624

    Default

    Quote Originally Posted by chroNick View Post
    I think there's more downside probability than upside probability. In spite of all the news coming out which should be bullish for PMs, they are still going down or sideways at best. I'm gonna wait until sub $24 to start accumulating.

    What's everyone else's accumulation point?
    You are stupid.

    You should be DOLLAR COST AVERAGING.

    Buy Precious Metals REGULARLY with your spare investment funds that you plan to invest for 5 years or longer.

    Trying to "time the market" is a fools game that stupid people play.
    Legal Disclaimer: All posts by the person known here as tom1000000 are not to be relied upon for any reason and may be totally incorrect. All rights reserved.

  4. #4
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    Quote Originally Posted by tom1000000 View Post
    You are stupid.

    You should be DOLLAR COST AVERAGING.

    Buy Precious Metals REGULARLY with your spare investment funds that you plan to invest for 5 years or longer.

    Trying to "time the market" is a fools game that stupid people play.



    There's something to be said for those willing to risk their investment money on the market going lower, just like there is for those with the guts to play at the paper casino. It's not my cup of tea, but I can't knock those that have the balls to play at that table.

    I agree with just jumping in whenever you decide you have more to invest. I couldn't wait for one day or another hour, I had to call before the price moved again. I didn't really care if it dropped, I just didn't want it to rise on me while I was waiting.

    I remember back when we had the big price movement and so many were sure the price would most certainly fall any day, so they sold a lot of Silver in the low $20 range expecting to buy it back in the teens and increase their stacks.

    Then the panic started to sink in, oh crap what did I do, as the price kept on rising past $30 on it's way to $48.

    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  5. #5
    Join Date
    Dec 2008
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    Michigan
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    Default

    Quote Originally Posted by tom1000000 View Post
    You are stupid.

    You should be DOLLAR COST AVERAGING.

    Buy Precious Metals REGULARLY with your spare investment funds that you plan to invest for 5 years or longer.

    Trying to "time the market" is a fools game that stupid people play.
    Eh, go **** yourself then. The smartest people who are the wealthiest time the markets

  6. #6
    Join Date
    Nov 2011
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    339

    Default

    Quote Originally Posted by chroNick View Post
    I think there's more downside probability than upside probability. In spite of all the news coming out which should be bullish for PMs, they are still going down or sideways at best. I'm gonna wait until sub $24 to start accumulating.

    What's everyone else's accumulation point?
    I'm with stupid - Waiting for the low 20's - Call me Stupid er

  7. #7
    Join Date
    Apr 2012
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    Scottsdale, Arizona
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    Default

    The analogy of asking you guys what the market's going to do is like the one mentioned earlier, with a bunch of blind guys in a room bumping around trying to find the door. We are all equally blind to the future, I'm thinking.

    Still, i'm wondering... what's the likelihood that silver will someday soon fall down through $20?
    "If you don't know where you're going, you might end up some place else."
    - Yogi Berra

  8. #8
    Join Date
    Sep 2012
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    517

    Default

    i have been buying at anything under $30 spot, 26 and change is a nice spot to buy... i dont think it will drop below 26 there is too much support at that level, every time it has hit 26 it has turned around so to me anything lower doesnt seem like it will happen but who knows lol... all i know is if it does go that low im gonna be kicking myself in the ass all the way to the LCS to get more hahaha..

  9. #9
    Join Date
    Aug 2009
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    624

    Default

    Quote Originally Posted by chroNick View Post
    Eh, go **** yourself then. The smartest people who are the wealthiest time the markets
    Say you have $5000.
    You buy today at $27 per ounce. That is 185 ounces.
    In 6 years time you sell at $100 per ounce and get $18,500.

    The Cronick theory is you wait until $24.
    So eventually you buy and get 208 ounces.
    In six years time you sell at $100 and get $20,800.
    If Cronick's prediction comes true, he will make an extra 12.4%.
    But.... if the price doesn't drop, Cronick will LOSE 100% since apparently he will never buy.

    So Chronick is the dumb fack who is risking 100% to possibly, if he is lucky, make an extra 12.4%.
    Legal Disclaimer: All posts by the person known here as tom1000000 are not to be relied upon for any reason and may be totally incorrect. All rights reserved.

  10. #10
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    Dec 2008
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    Michigan
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    Default

    According to you, you have been dollar cost averaging. You were buying all the way up to $49. I have not bought once since silver was at $9. You are cherry picking $27. Silver was in the low 30's for a very long time, so I'm going to go out on a limb and say your average recently has been in the low 30's. And I said under $24 meaning it could be $21. You're cherry picking my entry price too. So 12% is the bare minimum. In reality its much higher.

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