*** Silvertards! Silver collapsing down to $42 at market open ***

Good morning. Was at these levels yesterday, then spiked up to $45+ overnight.

Physical is still around $50.

The silver price these days is based on people trading the ''promise'' to buy/sell silver. (derivatives) It doesnt really reflect the actual physical demand and supply.

Therefore I think people owning only physical silver shouldnt even look at the spot price.

I told my Dad to buy at 34, he didn't listen. Now he wants to buy 10k worth but I'm a bit nervous, I guess The antitards are getting in my head.

You buying today Comedian?

That's valid.

I'm involved in both, but treat them as chalk and cheese.

Silver will probably have a pull back when it gets close to $60. too sooo LOOOOOK OUT!!!!!!!!!!!!!!!!!

Yeah, but only paper today. And I'm not sure of my entry point yet. The $42 floor is just a theory. I won't buy until we're well into $43.

Who knows, maybe your dad will get a chance at $34 silver after all!

Oh, I think we'll see an "All hands to the naked short pumps!" before that, at around $49.50. That $50 is a magic number. Breach that, and the next stop is low Earth orbit.

I think this is why they increase margin requirements all the time when it gets close to 50.

buy and demand delivery !

Tell him to wait for around 36, thats what I see in the charts. This week will end with a low of $40 (almost guaranteed, the charts are screaming 40 loud and clear) and this will most likely not be the end of the correction.

Have to disagree.

10% chance of 36.
30% chance of 40.

There is some irrational resistance at $42.50 at the moment.

Of course, I'm day trading to the 90 day chart, so if you're using Fib series or long stocastics, your results may vary.

I don't see anything strong enough to go short, though.

why trade silver if you´re not sure when you should trade?

it´s easier and safer to buy whatever is low and has good long term prospects and just hold on to it for the long haul, without having to worry and work every day

Buy and hold?
You're kidding me.
I thought that approach finally died about 2008.
*Nothing* has "good long term prospects", not even gold or oil at this point. Jump in, make money, jump out, convert your profits to tangibles.

I've been saying saying support is 40.02 if it falls below that it can actually go to 32 before next support.

Comedian, so what do you think he should do. He wants to get physical and it's more of a long term in case TSHTF and dollar is useless, but if it does well he wants to have about 50k total. He's heard me say it's going up since $19. He lost almost 200k in the market in the past and I worry if it does go down to $34 he'll panic.

I still think in the end it's going way up, what do you think?

Comex margin hikes are driving out speculators. Many will jump onto the short action further driving it down. All planned, but the problems with the dollar will see silver prevail.

OK, AGQ has broken out of its static channel.
Entry at $297.

Up, up, and away!

Out of curiosity, how much over spot would be average?

Varies wildly based on country, region, and form of specie.

I just topped up. these lows are amazing. i thought I'd missed my chance! xD

100 oz bars are the way to go right now, IMO.

[link to www.apmex.com]

buy buy buy !

My inlaws asked me about 18 months ago what to do with $10k spare they had. I said buy junk silver. They've got over $25K worth of silver now.

I don't think silver is done by a long shot. It is, however, susceptible to manipulated and even natural dips and significant volatility.

Tell him to get on ebay and buy $1000 worth of pre-1965 quarters. That way, he's got something to start with.

I don't believe you are in metals...

lemme guess, you trade etf's ?

papersilvertard

[link to youtu.be]

I won't be exiting this AGQ $297 entry until it hits at least $330 (and will be setting trailing stops of -5$ if it surpasses $330), so I may be holding this for the rest of the week if things crawl too slowly.

If the SHTF, I've got a stop loss at $280.

Well, the dollars gains were short lived.

If you were able to read, you'd see I am in both, illiteratard.

As they always will be.

Oh, and for reference, this is an excellent tool for pricing junk silver:
[link to www.coinflation.com]

Thanks comedian, he likes the 1/2 oz apmex coins that I have.