I remember that in July there were so many that were wringing their hands and saying, "Silver up 50 cents and PanAm is flat"
"This dog will never move.. I'm leaving.."
I'm glad some of you stuck around.. FRUITS OF YOUR LABOR! Enjoy.
Could be rocky next week.
I'm holding my core and looking for bargain bin specials. Not selling any HL, AXU or PAAS unless market melts down.
What happens first--Euro zone implosion/flash crash (Germany bails??) or the BIG silver spike? I figure about 30% cash is the way to go--but I don't have conviction either way. May go to 40% soon.
Keeping hand on the keyboard.
If market acts well, HL goes to $15, imo.
Golfer, Your plan makes sense. I'm on board this train. I rode a car from Chicago to Seattle called the AmTrack Silver Orchid.. Roger Payne was my pullman porter and one hell of a great guy!
Perth Mint -- Austrailia-- fully insured and government guaranteed silver and gold certificates (and lots of physical too) is at:
A good US dealer for Perth Mint productS is:
Golfer, your selection of Perth Certificates would seem a good method of diversification for a portion of your investment in silver. I won't argue with you, there. Only a small percentage of silver investors understand how easy they are to own and you may wish to provide a contact link for those who're interested in looking into this alternative to traditional silver purchase and storage. Re: Silver Stocks, yesterday was really interesting. Silver made a double top by slightly piercing the previous days' highs and settling there on relatively heavy volume. It would seem that there were a lot contracts and shares changing hands throughout the day. Personally, I believe there is a shot that gold will trade at or about $1325-$1300 and Silver should give us a short an equally sharp buying opportunity over the next 10 business days. But then, I don't do a lot of trading. Option selling, yes and the last couple of days were a good oportunity for a bit of income. PS, teach that Freshman about what real money is and why it has a lot to do with his/her future. Happy Thanksgiving!
Thanks DCP--I appreciate the feedback. I bought the eagles for the silver. Also got Perth certs (I know, scary, but they're govt guaranteed-also scary).I'll increase PAAS if it ever pulls back (or I'll just buy the heck out of it someday if I wake up feeling bold).
PS--I've got a freshman kid at UF.
Golfer, RE: Selling HL and AXU for Physicals. My thought is that you've picked two good candidates for leverage as things begin to heat up (AS SURELY AS I BREATH, I BELIEVE THIS TO BE CERTAIN). The physicals I buy because I am a collector. I do own eagles but they represent a smaller portion of my physicals than the Pre-1965 coins that have premium appreciation value above and beyond the silver content. I also like a variety of denominations for hard times insurance. Same for caliber ammunition.
Golfer, I think all of us are best served in buying into panic selling and vice-versa at the opposite extreme. Scooping up fear is almost as hard as being fearful of greed. Scale in, scale out.. I tell myself this on a daily basis. The next 24 hours should provide clues as to what we might expect next week. The dollar is still the key to these markets, short term. jmho
Be sure to read Mack's article in SeekingAlpha.com .. he talks about PanAmerican and why this stock and a few others will go much, much higher.
DCP--nice to own physical. I bought some silver eagles awhile ago and my wife thought I was crazy. We'll see. I've thought about selling some HL and AXU and buying more eagles, but I've got deer in the headlights syndrome on that decision.
Golfer, I bought some canadian silver on Friday, last with freight and insurance I paid @ $27/ounce. I can't get the same deal today. Silver markets remain tight with a strong bid from bigger hands than mine.
OT: I will be with you on the TBT trade. I'm looking for a low risk entry and hope the dollar rallies a bit from here. PanAmerican Silver is ONE SWEET CASH MACHINE THAT FEATURES THE RISK MANAGMENT THAT HAS DIVERSIFIED BENEFITS TO THE LONG TERM SURVIVABILITY. Did I mention that I really intend to send a Christmas Card to Management? dcp