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AdirondackFund (< 20)

Silver Rally In Earnest

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7

April 25, 2013 – Comments (6) | RELATED TICKERS: SLV , GLD

SLV has taken a beating since peaking at $48.  Yesterday's trading brought price to $21.96 before mounting a comeback and is up 4 1/2% in just two days.  The overshoot of the 61.8% retracement level has been meaningful, so the discount for buyers is very good indeed.  GLD has been racing higher since making it's low on April 15th.

What say ye fools?  Are we staring at the bottom of the silver market?  It looks like it to me.  

6 Comments – Post Your Own

#1) On April 25, 2013 at 11:48 PM, awallejr (82.70) wrote:

To me a "bottom" is irrelevant.  I am a firm believer that all investors should have at least 5% of their assets in physical gold/silver throughout their lifetime.  So what  either sells for on a given day is only a question if whether it is a BUYING opportunity.  Selling will only occur if Armageddon or death.

Gold/silver was on a great run the last 12 years.  So now it corrects, as things should.  Take advantage. But buy physical.  The paper is not the same.

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#2) On April 26, 2013 at 10:01 AM, Option1307 (29.89) wrote:

I've personally been out of the precious metals market for the last few years. I enjoyed some nice gains but then felt things were getting ahead of themselves and bubbleish, yes I missed the continued gold run from 1300s to 1700s but that was something I was comfortable with.

I won't be buying silver anytime soon. While it has taken a beating I'm not going to buy back in unless SLW gets back into the tens. Then maybe.

Thats just me personally. I just don't like the bubbleish attitude.

Best of luck!

 

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#3) On April 27, 2013 at 11:04 AM, MoneyWorksforMe (< 20) wrote:

^You, sir, know not, the essence of a "bubble." Perhaps to expedite your learning you may want to start by referencing the current U.S. stock and bond markets. 

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#4) On April 29, 2013 at 2:57 AM, AdirondackFund (< 20) wrote:

@ awallejr.  I should have mentioned the preference for physical metal in my post.  I only favor the physical at this point in time.  I'm nearly certain that the paper markets are nowhere near covered for their obligations.  The Canadian Maple Leafs are my favorite because they can be used as currency and traded fairly and at a profit.  I also like the 10 and 100 oz. bars, but a bar/coin mix should probably be about 50/50.  That's just a theory based on liquidity preferences.

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#5) On May 01, 2013 at 12:28 AM, Valyooo (99.62) wrote:

awallejr,

 

Help me out hear...I am always confused how you can support bernanke and the gov so much but still like bullion. 

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#6) On May 07, 2013 at 8:37 PM, awallejr (82.70) wrote:

Sorry Val I missed this question.  To me bullion is like having a life insurance policy, you might need it but you certainly don't want to use it.

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