Sell Everything Else and Buy Silver

Quote from Joe Doaks:

Hope you own some gold, too. The gold analytics look very good now, though not as good as silver. If you are already loaded up on gold, I recommend owning roughly fifty times as much silver by weight as you have gold.
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I have a fair amount of physical gold. I'm waiting (and hoping) for a further correction to around $1300 before i buy more (long term, not trading).

I exited the silver futures position at $33.
 
Quote from Visaria:

I have a fair amount of physical gold. I'm waiting (and hoping) for a further correction to around $1300 before i buy more (long term, not trading).

I exited the silver futures position at $33.
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The attached chart shows gold kissing a 17% retrace (an obscure fib) and the 150 day simpleton moving average. I don't think you're going to get a much better price in dollars. Good move on the silver. If gold is money, then silver is play money.
 

Attachments

Quote from Joe Doaks:

The attached chart shows gold kissing a 17% retrace (an obscure fib) and the 150 day simpleton moving average. I don't think you're going to get a much better price in dollars. Good move on the silver. If gold is money, then silver is play money.
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I just read your post and i don't understand it. What does gold is money and silver is play money mean?

Gold is ok to trade and speculate on atm, but i fully expect it to decline to around 1100-1300, maybe by the end of the year. I'll happily buy for the long term then. If i'm wrong, i hold plenty of physical gold anyway.
 
Quote from Visaria:

I just read your post and i don't understand it. What does gold is money and silver is play money mean?

Gold is ok to trade and speculate on atm, but i fully expect it to decline to around 1100-1300, maybe by the end of the year. I'll happily buy for the long term then. If i'm wrong, i hold plenty of physical gold anyway.
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You never sell gold. You trade silver.
 
Quote from Joe Doaks:

You never sell gold. You trade silver.
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The better rule is probably: don't sell physical (silver or gold). Trade with ETFs, futures, mining shares, options and the rest.

Actually, I might sell physical if we reach one of those famous ratios (16:1 silver/gold or Dow = Gold, etc.), but only if it looks like some financial stability is on the horizon as well. I don't see that any time in the near future.
 
For the time being (i expect for years), i have no intention of selling my physical gold. But nothing is a permanent store of value.
 
Quote from Fleming Snopes:

This week's silver analytics scream that poor men should be buying the poor man's gold. In the unlikely event that you have liquid assets, use them. Most likely though you'll have to scrap that junker in the front yard. Sell the lazy dogs. Pawn off your gun collection. Put the live-in out to hook. Buy silver now because later you may not even be able to afford copper.
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Im down 10 bucks a share on your call. Now what fucko?
 
Quote from Crispy:

Im down 10 bucks a share on your call. Now what fucko?
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Average down. The analysis is not about immediate gain. It is about where to put your cash that has more long term value than cash.
 
FWIW, i'm expecting silver to hit the lows again ($26 ish) at some point. If i'm right about gold going to 1100-1300, silver will go down with it.
 
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