28.33 crash baby crash so I can go all in

But... but The Fed... JP Morgan.... manipulation... QE3.... deficits... printing of thin air....

Just a little bit of volatility right now...silver down over 13% a couple hours ago, now down just 3.5%. Spontaneously put in order for 20 silver rounds earlier for $612. The same company's selling them now for $668. Would be pretty sick if I actually nailed the bottom even if just for a small amount haha.

Or it could turn again and I could be down 10% by the end of the day on that purchase...I'm not going to try to make any prediction right now with this volatility

bought 100 ounces at 26.50...doubt I picked the bottom but I'm feeling good about it (I'm in for the long run)

Looking forward to see how New York will treat the bitch

Just sold approx 25% of my holding at $32, trigger big upswing. this is a big bull signal!!

Why did you sell? Shouldn't you be buying more?

My head is saying I should be buying more given buying when the price is tanking should be the best time to buy. I just have too much absolute £ invested in silver, I've been lucky to have bought both gold and silver when pretty low prices (up about 80% on silver even with this horror last week) so I've now withdrawn my original total investment (sold some a few months ago) and just keeping the profit in.

-EV most likely but means I can stop refreshing the price every minute for 10+ hours a day like i have been (though no doubt I still will )

From a Blog I check

"Silver is an absolute disaster but it is only doing what silver does. As I mentioned last night, if you elect to trade in an unregulated market that is dominated by an uber-short which has virtually unlimited financial and political backing to defend its position, you're going to get your ass kicked every once in a while. And I don't think that the current beating is over yet. Furthermore, if you're a believer in the whole "wynter benton" thing, then how can seriously expect JPM to go down without a fight? In fact, this kind of 24-hour destruction almost validates the entire WB "story". If JPM really is threatened by "60 days of silver over $36" or whatever it is, then wouldn't you expect them to hammer silver before the deadline? I mean, they're not going to go all Dylan Thomas on you and simply "go gentle into that good night". That said, if silver doesn't stop right here, at the lows of May, then it's going considerably lower, as the charts below show. Though I'd love to buy some more Maples here, I'm waiting on this one, too. At $24, I can buy 4 sleeves for the same amount of fiat that would get me 3 sleeves at $32.

One last thing, I may not know much but one thing I do know is that this whole "deflation is coming" stuff is bull****. Yes, by failing to add additional QE this week, The Fed had set off a chain of events that will finish off any hope of economic recovery and, yes, the value of your house and your 401(k) is headed lower.

What we are entering is the worst possible outcome and the worst of all worlds for the average, everyday person. Your fiat-based wealth is going to decline. Your wages will stagnate if not decline. But, the cost you pay for everything from milk to bread to gasoline is going to skyrocket. Eventually, this will lead to civil unrest, political instability and even revolutions. So let me state this again very clearly: THE ONLY FINANCIAL PROTECTION YOU HAVE AGAINST THIS COMING MADNESS IS PHYSICAL GOLD AND SILVER. Period. End of story. Not open for discussion.

but now its a really really really big position right?

$50 by year end but you waffle as to whether $30 will hold? I love it.

every trader i know got short metals after the Fed mtg and not a word from you.

whats the new thesis for silver?

Yowserrrs, what do you think is the likelihood of a paper money collapse in US/UK/Euro?

what is a paper money collapse? hyperinflation?

Sorry yep, hyperinflation to the extent that someone's life savings (be it cash or equities) become pretty much worthless.

Just all this crisis talk makes me wonder if I should put a lot of money into hopefully safer currencies such as the CHF? Or if the USD or Euro experienced hyperinflation even 'safer' currencies would be semi-doomed? Or is it so unlikely that it is not worth considering, given it's in every countries' interest to avoid this?

Right now the concern is deflation. Not inflation.

Hyperinflation isnt going to happen....well never say never.

Went to bank to purchase a 10oz silver plate. this was friday, in Canada, price was 30.00-30.5 somewhere there. for the 10oz bar they were going to sell at 37$/oz and if i bought 100ox they would have sold it at 36$/oz....i understand that the more you buy the less markup but is it standard to spend 7$ more than the actual raw price?

No thats high.
What I have seen since this selloff started is all bullion dealers have raised ther markup price over spot. 10oz bars a week ago were .89c over spot are now 1.89 over spot per oz

hmmm...i cant imagine their spot price to drop significantly in the next week unless their is a spike in the price of slv or enough so where they can cut loses or b/e.

i tried looking to buy off some online sites, they will sell relatively cheap. at the same time, with regards to my last post prices were 30$-30.5$ and they were selling for 34ish online. however the shipping costs were about 40$ so that brought the price back up to the 37-38$ mark.

is buying bullion from the big banks the best bet? or should i go to some certified deal? like some jewler. also, just curious, how reliable are the online sites that sell bullion? is it real pure silver? have their been scams?

Just buy from kitco.

http://www.thebullionmart.com/ Prices are in CAD, this is a place beside my school. Still, a 5$ markup on their 10oz bullions....this seems unreasonable...5$ on 28$ silver is like 15% markup. that eats away ROI% am i missing something???

does kitco not sell 10oz bars? or would i have to purcahse, 10x 1oz coins? ...not a huge fan of coins but would they have a higher resale value than that of a bar. Ie 100oz silver bar will sell for more than 100 1oz coins? or is my method of thought completely off?

When you sell, you should be able to sell over the spot price to individuals on CL/ebay although will be lucky if you get as much over it as you paid to the dealer. Paying for shipping generally makes little sense in my opinion. Some research should find you either a local dealer or a local private party who is selling.

seems kitco is getting out of stock and that is happening pretty fast...I've seen several products taken down

Really noob question here but here goes:

If you made 50k in another investment (like gold) and sold so you have the money. Would you take a pure punt on the price of silver right now?

I could chuck 100k into silver and im free-rolling with the 50k. It would have to half from its current value for me to break even. How bad can it be? It could also eaily go up 10-15bucks and I nick a nice profit. I am prepared to hold on to it long-term if need be.

Yes or No?

Yes, because I've heard it's the unloading of some banks in Europe that is moving the market bcs. they need to cover their negative exposure

but then again I would never take any advice from an unknown person on the Internet

Taking your profits and investing them elsewhere is not free rolling.