Gold - Silver tanking, U.S. Market down over 2%

[Ares]

http://money.cnn.com/data/premarket/index.html

[Spectrism]

Let them drop. Buy on the dips.... so let them fall.

[Ares]

Let them drop. Buy on the dips.... so let them fall.


If I had any dry powder I would LOVE IT. But it's like watching a computer processor I really want to buy dropping in price, but don't have any FRN's to purchase it. :(

[Book]

Wait to buy the neat-o gold and silver coins that will glow in the dark.

[chad]

BTFD!

[Spectrism]

BTFD!


I think that means "invest in the dollar"? Sounds like a real smart thing. Paper FRNs are sure to hold their value.... maybe more than used toilet paper.... for starting fires, that is.

Surely- you are not suggeesting to BuyonTheFDrops for silver... paper is easier to carry.

[Korbin Dallas]

Beep beep beep......sound of trucks backing up.

[joe_momma]

This is a blip - there's a rush to be holding cash so that when the Japanese Insurance companies (and Government) have to sell assets to settle claims they'll be in a position to buy at literally "fire sale" prices.


IMHO - those equities that will be sold are way overvalued - so yes, it is a bargain - say 50% off "retail" but still about 100% overvalued!

Basically - this is like a store announcing "We're marking down our our price for can of coffee by 50% - it used to be sold for $20 but now you can buy the can for just $10." (- the catch is there's only $5 worth of coffee in the can to begin with)

[JJ.G0ldD0t]

IMHO - those equities that will be sold are way overvalued - so yes, it is a bargain - say 50% off "retail" but still about 100% overvalued!

Basically - this is like a store announcing "We're marking down our our price for can of coffee by 50% - it used to be sold for $20 but now you can buy the can for just $10." (- the catch is there's only $5 worth of coffee in the can to begin with)



I can't see how that principal can work when applied to PM's....

I read something yesterday where a fellow said that in a roundabout way.

mehh -I'm along for the ride I guess

[JDRock]

O GAAWD not this shit again. Time for remedial training in understanding real money. Those numbers you are referring to, in order to determine the value of pm's are just a bunch of #s. nothing more. silver isnt worth a dime more or less than it has since the turn of the century.

lesson 1; It is SILVER that determines the worth of dollars..NOT THE OTHER WAY AROUND.

all this talk of "making money " by owning pm's shows a manifest ignorance of the crisis at hand....
pms are not just another get rich ponzi scheme, it is the rock of INTRINSIC WORTH we stand on while the paper $ scams get washed away in the the implosion.
the truth is, you just dont LOSE with pm's....its never ever ever been about what you make, save in the short term trading,and that, only by reinvesting in MORE pm's.

So, the takeaway here is if your not daytrading pm's the kitco chart is nothing more or less than a snapshot of public opinion on them at the moment, and even THAT price is manipulated.

[Tom Roscal]

BTFD (Buy The F**king Dip)

[ximmy]

I'm heading to the dealer today... see if I can pry some deal from his hands... ;D

[Awoke]

Buy the "what" dips?

[JDRock]

O GAAWD not this shit again. Time for remedial training in understanding real money. Those numbers you are referring to, in order to determine the value of pm's are just a bunch of #s. nothing more. silver isnt worth a dime more or less than it has since the turn of the century.

lesson 1; It is SILVER that determines the worth of dollars..NOT THE OTHER WAY AROUND.

all this talk of "making money " by owning pm's shows a manifest ignorance of the crisis at hand....
pms are not just another get rich ponzi scheme, it is the rock of INTRINSIC WORTH we stand on while the paper $ scams get washed away in the the implosion.
the truth is, you just dont LOSE with pm's....its never ever ever been about what you make, save in the short term trading,and that, only by reinvesting in MORE pm's.

So, the takeaway here is if your not daytrading pm's the kitco chart is nothing more or less than a snapshot of public opinion on them at the moment, and even THAT price is manipulated.

bump...just thought id ease a few worried minds here...

[Trinity]

I think we might head down to under 30, 28.50 would be rock bottom.

[Spectrism]

I think we may see near everything tank out for a while. I am not buying silver unless it is 20% under spot right now. I think one of the indicators will be the purchase of US treasury bonds by unknown buyers in successful auctions. Another will be the announcement that the federal level will bail out states. When we see the federal reserve printing presses doubling their work and the pump monkeys keeping dead company stocks soaring, then hold no FRNs. Buy something lasting as quick as you can because Zimbabwe has come to town.

[Antonio]

Ag 20$,Au 1100$, Pd 500$ or lower,Pt 1200$ or even lower but physical is not to be had for less than 1500$...
This can easily happen within a week...

[mamboni]

There has been only a slight softening in the physical silver market judging from auctions of SAEs on Ebay. SAEs had been averaging $42-44 for single coin sales. Now, bids per auction have dropped and price has sagged slightly to $41-42.

The markets are in turmoil and trying to trade in this environment is akin to bowling on a rocking ship. I think the metals are the only sure thing to hold in the interum - they are real tangible wealth. You can't take the paper price drop seriously. There is a scramble to cash and a lot of Yen carry trade is unwinding. Some assets liquidated will be gold and silver holdings and margin calls. When the dust settles, I think the FED and other central banks will have no choice but to print and print to reliquify markets and prevent a deflationary collapse. So, I like sitting on gold and silver - they will lose the battle today but win the war in the end.

Hang tough and be resolute.

[Glass]

This could be my chance to finally back the truck up. I think the real question for me, with markets tanking is, will JP Morgue tank more than everyone else. Let's hope so. Watching NNK out of Japan. They are clutching at straws now. Only way to make any progress is to get people on the ground and up close to these reactors.

[bellevuebully]

I blew out my whole paper portfolio. Last week I was up 70% since Aug. '10. Real low bids on the open....I didn't really care....sold into the open. Walked away with 30% gain. Will live to buy again (Lord willing). Can't go broke taking profit....30's nothing to sneeze at and I'm content. I have a feeling when the wind in Japan changes direction and the reality of the situation hits, the markets are going to tip big time.

[Spectrism]

I blew out my whole paper portfolio. Last week I was up 70% since Aug. '10. Real low bids on the open....I didn't really care....sold into the open. Walked away with 30% gain. Will live to buy again (Lord willing). Can't go broke taking profit....30's nothing to sneeze at and I'm content. I have a feeling when the wind in Japan changes direction and the reality of the situation hits, the markets are going to tip big time.


Are you shorting anything?

[mick silver]

today i ALMOST went and sold ALOT of silver but i could not do it

[bellevuebully]

I blew out my whole paper portfolio. Last week I was up 70% since Aug. '10. Real low bids on the open....I didn't really care....sold into the open. Walked away with 30% gain. Will live to buy again (Lord willing). Can't go broke taking profit....30's nothing to sneeze at and I'm content. I have a feeling when the wind in Japan changes direction and the reality of the situation hits, the markets are going to tip big time.


Are you shorting anything?


Ya....the usd....wink wink.

Nothing formally.

I play the miners because I see the value. Once this situation in Japan shows us what to expect, I'll decide what to do, but I think inevitably it will be back into miners. Nothing is fixed. Just keeps getting worse on all fronts.

[bellevuebully]

today i ALMOST went and sold ALOT of silver but i could not do it


Hold onto yer physical if you can afford to mick....imo.

[Libertarian_Guard]

http://i53.tinypic.com/28nmtf.jpg

[Serpo]

http://i53.tinypic.com/28nmtf.jpg






At least the shute opened

[Libertarian_Guard]

She'll be back on the launch pad in no time, then off to the Moon.

[Serpo]

Forget the moon , mars is where the action is a I believe

Here is the worst movie ever made apparently.....

http://www.youtube.com/watch?v=5LTPLANzHpk