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iShares Silver Trust Message Board

  • nastram212 nastram212 May 24, 2011 6:39 PM Flag

    friend just sold his house and put it into silver

    says he'll buy 2 houses , when its all said and done......

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    • Hastram,
      The thought of selling a house to buy PM is scary, unconventional, subject to ridicule by 99.999999 % of the people.

      But i called that trade loud and clear 3 years ago, except that my prediction was to be able to buy 4 houses in 4-5 years, not just 2 houses(if one bought palladium and silver 3 years ago, that has clearly happened already).

      Most people would not recommend it, and very very few would do it.

      But fundamentals clearly point to that coming true.

      Your friend is making a risky trade (according to MOST people) but imo he will come out all right.

      Same goes for cashing one's retirement plans, NO ONE would recommend it, very very few will do it, but 4-6 years from now it will appear to be a very smart move.

    • Its not just a one off news event when the major players that drove silver up have pulled out

      for good in the silver trade. Goldman says that certain metals may gain now and they mentioned

      only copper and tin. They did not back precious metals cause of the huge runup they have had.

      On top of all this the dollar is rising and that is almost always bad for the precious metals

      trade and on top of that if interest rate hikes are on the horizon also bad for the precious

      metals. What we are seeing today is some spill over of retail investors who cant shake off the

      silver trade getting back in with their winnings, but just like the casinos putting your

      winnings back into the house usually is the end effect of that. I like promoting a rising

      dollar falling euro for if it raises the ETF of the UUP only a few points it becomes many

      multiples of your UUP calls. ITs a very stealthy trade since it moves up in short spurts and

      only on occasion but because of that it wont become a crowded trade that has the rug pulled out

      from it much like what happened to silvers drop.

    • funny, cuz i am making boat loads of cash in stocks and silver to buy homes. homes everywhere. florida, dc, new york. you name it....

 
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