I have a buy order for physical silver in @ $17.75, and another @ $15.50. This level should represent almost total retracement, and hopefully a real bottom. Maybe by this time (mid-2014?) we will have some real economic growth, and therefor some inflationary pressures.
For now, I'm still trading undervalued equities with a long bias. DRYS, TROX, AAPL, KERX, BAC
Here is your post from summer:
.... $35 by the end of the year.
A run to $30 will very likely lead to $60 silver within 12 months of the $30 print, and elevated prices above $50 for some extended period of time.
I hold a position in physical silver which I use as my long term play. I'm on record on this MB predicting $35 by the end of the year, and $60 within a reasonable time frame.
I still predict $35, $45 and $60.
Do we get do overs? You originally predicted $60 for 2014, now $15.50. That's quite a spread.
You have admit that is tough to forecast.
It is nice to give some basis instead of just generating random numbers.
You get as many do overs as you want. It's called trading.
I'm on record as being absolutely dead wrong literally dozens of times on this MB. I'd venture to say that anyone who posts on this board, and has actually made money over the past few years, has been wrong many times. I reserve the right to change my mind, and my positions whenever I want to.
That said, I still love the prospects for silver in the long term. I have no doubt that we will see $60 within a multi-year time frame.
Would you mind sharing with us how you have a limit order in for physical silver? Never seen / heard of that before, and am familiar with most major dealers. Are you planning to take delivery on futures? Thanks.
When I say I have a "buy order placed" I obviously don't mean it literally. I know of no way to literally place a limit order for physical silver. I simply mean that I have determined these levels to be price points that I will use to scale into my desired position.
I do trade silver futures, but I have never taken delivery. I also trade leveraged silver funds very aggressively. I use these instruments strictly for trading. For physical accumulation, I buy allocated silver online and use two different storage locations, one of which is out of the US.