Is this the long awaited correction in PM's

[EE_]

How low will they go and when to buy?

GOLD
01/20/2011
08:46
1346.40
1347.40
-24.10
-1.76%

SILVER
01/20/2011
08:46
27.86
27.88
-0.91
-3.16%

[sirgonzo420]

I'm backing up the truck when silver hits $7.50.

[osoab]

http://www.weblinks247.com/indexes/idx24_usd_en_2.gif


bucky moonshoot this morning.

[mamboni]

Someone forgot to tell buyers of physical silver about the spot price drop: common date silver eagles still selling for $35-36. That's an $8 to $9 premium - ouch.

[Silver Shield]

Let the divergence of the fake paper market and the real physical market begin.

This will only seek to accentuate the massive fraud bringing about the final reckoning day.

[mick silver]

i am waiting for silver to drop to 5 bucks before i load the boat up . yep it look like there hamming gold an silver . i guess there buying more are coving a loss

[gunDriller]

i am waiting for silver to drop to 5 bucks before i load the boat up . yep it look like there hamming gold an silver . i guess there buying more are coving a loss


the official explanation is, Brazil raised interest rates.

also, the stock market is off a little bit and the PM's are tracking with stocks - today.

in other words, next week - prices will be up again. Gold breaking above $1400 ?

it's like watching a horse race.

actually, this is the second biggest dip i've ever seen in silver in one day. there was that day when they raised margin requirements and silver went from $29+ to $27+.

which is sort of what happened today, price-wise.

i'm not complaining. WOO-HOO !!! ;D

[Antonio]

I`ve been in the PM game since 2000. Nothing scares or even excites me anymore. My biggest worry is how much food,water and ammo PMs will buy WTSHTF. Everything else is unimportant.
Don`t tell me you have planned to liquidate all your PMs TODAY or if you have a shitload of FRNs you will back up the truck TODAY.
PS.I still remember when Au broke thru 700$ around 2006, I still bought a Maple and was literally approaching a heart-attack from both fear and excitement (I guess I was still young,then...)

[chad]

Someone forgot to tell buyers of physical silver about the spot price drop: common date silver eagles still selling for $35-36. That's an $8 to $9 premium - ouch.


no crap, my dealer wants $29 for peace dollars.

[MNeagle]

I still shake my head when I realize I'm on a forum that regularly has the phrase "my dealer".... :D

[Antonio]

I still shake my head when I realize I'm on a forum that regularly has the phrase "my dealer".... :D


Hahaha, this is drug talk for sure, great observation!

[Horn]

I still shake my head when I realize I'm on a forum that regularly has the phrase "my dealer".... :D


Hahaha, this is drug talk for sure, great observation!


Avatar idea...boot it up.

http://static-p3.fotolia.com/jpg/00/00/99/24/400_F_992456_FKUHRE2HZNAT8nxbGZE23CVASlmakP.jpg

[Ponce]

The answer is ........yes.........but not to $25.00, to many people wants silver.

First post of the day...............good morning to one and all.

[Horn]

http://www.weblinks247.com/indexes/idx24_usd_en_2.gif


bucky moonshoot this morning.


You get no everlasting gob stoppers, you stole the fizzy lifting drinks...!!!

http://www.youtube.com/watch?v=NKLYEAC4F2U

[Neuro]

i am waiting for silver to drop to 5 bucks before i load the boat up . yep it look like there hamming gold an silver . i guess there buying more are coving a loss


the official explanation is, Brazil raised interest rates.

also, the stock market is off a little bit and the PM's are tracking with stocks - today.

in other words, next week - prices will be up again. Gold breaking above $1400 ?

it's like watching a horse race.

actually, this is the second biggest dip i've ever seen in silver in one day. there was that day when they raised margin requirements and silver went from $29+ to $27+.

which is sort of what happened today, price-wise.

i'm not complaining. WOO-HOO !!! ;D

Yeah maybe it has something to do with Obama trying to woo Hu? ;)

[Ponce]

Neuro? in that case it should go up $1.00 and not down.

[gunDriller]

i am waiting for silver to drop to 5 bucks before i load the boat up . yep it look like there hamming gold an silver . i guess there buying more are coving a loss


the official explanation is, Brazil raised interest rates.

also, the stock market is off a little bit and the PM's are tracking with stocks - today.

in other words, next week - prices will be up again. Gold breaking above $1400 ?

it's like watching a horse race.

actually, this is the second biggest dip i've ever seen in silver in one day. there was that day when they raised margin requirements and silver went from $29+ to $27+.

which is sort of what happened today, price-wise.

i'm not complaining. WOO-HOO !!! ;D

Yeah maybe it has something to do with Obama trying to woo Hu? ;)


X act Lee !

good thing the Chinese President isn't named Jintao Pooh.

[ximmy]

I'm all bought in.. I wish I had more dollars to trade... everybody should be buying...

Our betters are determined to hold up the dollar long enough to glean every asset from the american population... don't give into them... the dollar is dying.
ximy

[platinumdude]

Palladium is holding strong.

[chad]

the spot price, at least where i live, is complete fantasy. all generic as of this morning was $32.50 an ounce. SAEs were $35.50. morgans + peace dollars (which aren't even an ounce) are going for $29.

i'm completely priced out of gold at this point, so i didn't even look to see how insane that was.

what's even scarier is that at those prices it's flying out of my local guy's shop.

[sirgonzo420]

the spot price, at least where i live, is complete fantasy. all generic as of this morning was $32.50 an ounce. SAEs were $35.50. morgans + peace dollars (which aren't even an ounce) are going for $29.

i'm completely priced out of gold at this point, so i didn't even look to see how insane that was.

what's even scarier is that at those prices it's literally flying out of my local guy's shop.


Literally?


:o



You're right... that is scary. Flying chunks of metal would freak me the fuck out too.

[JJ.G0ldD0t]

Chk this out:

http://www.stockhouse.com/Community-News/2011/Jan/19/Gold-and-silver-default-scenarios

CASH Bribes Being Accepted For Metal Contracts

Buyers, who have legally contracted to take physical delivery of metals, are said to be accepting large, paper bribes to accept a cash settlement instead.

The reasons are obvious why there has been a great deal of discussion about actual, formal “defaults” in the precious metals markets. Among those “obvious reasons” is that informal defaults are apparently already taking place in both gold and silver markets.

Beginning in the London gold market over a year ago, and now rumored to be occurring in New York’s “Comex” silver futures market, buyers who have legally contracted to take “physical delivery” of the metals they have purchased are said to be accepting large, paper bribes to accept a “cash settlement” instead.

http://thecomingdepression.blogspot.com/2011/01/cash-bribes-being-accepted-for-metal.html

[Libertytree]

In my little corner of the world the market already corrected. A dude I helped out the other day said he had 20 or so of "those coins you like to collect" and is selling them to me for $20 each ;D I gave him $25 for the one he brought to show me.

[Antonio]

I started buying early and stopped buying long ago. I just sit and watch, rubbing my sweaty,shaky half-sheenie hands together...

[chad]

the spot price, at least where i live, is complete fantasy. all generic as of this morning was $32.50 an ounce. SAEs were $35.50. morgans + peace dollars (which aren't even an ounce) are going for $29.

i'm completely priced out of gold at this point, so i didn't even look to see how insane that was.

what's even scarier is that at those prices it's literally flying out of my local guy's shop.


Literally?


:o



You're right... that is scary. Flying chunks of metal would freak me the fuck out too.


ah, just caught that. ;)

[TheNocturnalEgyptian]

It's just like sparky called it. A correction in the early spring, with prices beach balling back past the high towards the end of summer (at least I think that's what he said)

It's kind of a trip to read him on here calling it, and then see it happen just that way over the next few weeks.

So, thank you sparky.

[milehi]

I paid a buck over spot at lunch today for a handfull of scruffy Onzas and Engelhard 1oz bars. But that's all there was besides gaming tokens, which I can't stand, eventhough these had the brass ring removed. I've been in the game since '03 and I'm not sure what my price ceiling is. I'm an addict, so there may be no ceiling for me.

[Sparky]

It's just like sparky called it. A correction in the early spring, with prices beach balling back past the high towards the end of summer (at least I think that's what he said)

It's kind of a trip to read him on here calling it, and then see it happen just that way over the next few weeks.

So, thank you sparky.


Just to clarify for the record...

Peak price: I think we've either peaked for the year already at $31, or this current pullback will be followed by a rebound to test/beat the peak, somewhere in the $31 to $35 range some time this spring (April?). I think it's more likely that we only test the peak again, but don't beat it.

Either way, I see a correction after April that continues into June/July. My current thinking is that we see $23-$25 in June/July, and if the general market has big trouble in September/October, then silver might actually see a sharper correction down to $19-$21 at that time.

I think these corrections are only bad if you are trying to time them as a trader (and get it wrong). As an accumulator, I think they are a welcome sight because we probably have two more major legs up in this bull. For example, I could imagine a scenario where we get to $45 in 2013 and then blow off to $75 in 2015. Just guesses, of course, but trying to put these near term corrections in perspective.

[Awoke]

Well, I bought back into my pool account yesterday, in the hopes that we see 31 again soon.

[Horn]

Well, I bought back into my pool account yesterday, in the hopes that we see 31 again soon.


The Chinese president left the country, so the states purchases have been down recently...

[gunDriller]

I'm backing up the truck when silver hits $7.50.


my truck won't go in reverse. what should i do ?

[Sparky]

Well, I bought back into my pool account yesterday, in the hopes that we see 31 again soon.


For trade, or accumulation?

[sirgonzo420]

Well, I bought back into my pool account yesterday, in the hopes that we see 31 again soon.


For trade, or accumulation?


Not to answer for Awoke, but I'm pretty sure he just plays around with the pool account, and cashes out to accumulate physical metal.

[Carbon]

I could imagine a scenario where we get to $45 in 2013 and then blow off to $75 in 2015.

Valued in FRN's. I don't think that's really going to matter by 2015... or even 2013. While the d0llar is still in the early stages of swirling the bowl, it'll pick up speed as it drops lower into the vortex. Once it's gone, it's anyone's guess as to what the true value of AU/AG will be... and what that value will be based on.

The question of what the price of PM's in FRN's is going to be in the future isn't really relevant - the reality is that the true value of silver and gold continue to separate from the heavily manipulated COMEX price. Unless you can fleece clueless housewives at C4G parties, buying silver or gold at spot or even low premiums is becoming more difficult.

The better question is... do you have physical right now?

http://www.youtube.com/watch?v=AId_UiPtPpQ&feature=related

[Awoke]

Well, I bought back into my pool account yesterday, in the hopes that we see 31 again soon.


For trade, or accumulation?


Not to answer for Awoke, but I'm pretty sure he just plays around with the pool account, and cashes out to accumulate physical metal.


Close.
I just buy on dips and sell on highs (or at least try to) just to see what kind of percentage gains I can make on my FRNs in that account.
It's such a miniscule amount that I don't really give a shit about it, but I am doing it to test myself so that in the future I can invest a more serious amount and work the peaks and valleys with confidence.

[Ponce]

Now days if you pay $1.00 to sell and again pay $1.00 to buy back then there must be at least a $2.01 move for you to make any profit from the sell-buy.......but......you then have to travel to make the deal, how much gas will you use?, and then you have the tax if over $600.00 and to me anything under $600.00 is a waste of time........we will no longer see any movement that it will make it worth while to do any dealings.......................and if you sell for good?, do you have a good use for you profit?, are you moving out of the country?, pay off your house?, buying a new car?........

"is not what you have, but rather what you do with what you have"... Ponce

First post of the day.............good morning to one and all.