I honestly am not sure why so much selling pressure today but possibly due to the selling of 3.5 million shares PR
I planned on loading up on weekly calls on Friday also but fortunately my funds didn't get deposited until noon today. I just picked up some weekly 210 calls for 1.00
I personally like the bars because there is a much lower premium over the current spot price.
As an example, at $16 silver, 1 oz rounds fetch $19-$22 each depending on what you're buying.
The 100 oz bars fetch about $1750 today.
The premium is MUCH lower on large quantities. HOWEVER, you recoup most of the premium you pay when you resell them so its really a wash. Also, if you EVER need to trade physical silver for ANYTHING (a loaf of bread, water, gas, etc...) you will be happy you have a horde of 1 oz rounds.
I prefer the bars, as I want fewer transactions and as little of a premium as possible, but you really cant go wrong either way.
virtually ZERO risk in silver at this price to start building a position in bullion. I would not put 100% of your investment dollars in at todays price, instead buy it in chunks. It could fall as low as $12 within the next year or so or could be back above $20. No one really knows for certain but when it bottoms out, I'll have already built a nice position.
I'm 100% with you on this 1. Let these 19 year old kids try to tell you and I that silver is garbage. Let these talking heads on TV say silver is headed back below $10 an ounce. I HOPE it does go back to $10 an ounce. I'll just buy it FASTER. You and I both know that silver will be over $50 an ounce in the next 20 years. It's had 2 massive pops in the last few decades up to $50, it will happen again.
These guys just don't get it. COMPANIES CAN GO BANKRUPT, SILVER CAN NOT.
Now is the time to START buying and stacking physical bullion. Don't buy this thing. This is paper silver. In the event of an economic collapse (tomorrow or 20 years from now), do you think you'll be able to trade your paper shares for a loaf of bread?
Almost everyone here will tell you silver is going down to $10 an ounce or lower. I HOPE THAT HAPPENS. I started buying physical bullion last week, continuing to this week, will buy more as it drops for the next year or so. I truly hope it gets back below $10 an ounce and I'll buy a boatload.
The truth is, you can't predict the bottom, but you can be darn sure silver will spike again within the next 25 years. Its fact. Inflation/deflation, weak dollar/strong dollar, net imports/exports, interest rates, banking systems, all fluctuate. Right now those indicators are pushing silver way down.
It's a 99.99999% chance silver goes back over $40 an ounce again - its happened twice in the last 4 decades. Whether or not that is in 2015 or 2025, I could care less. It may drop to $15 first, it may drop to $8 first, I could care less.
Up 10% in 6 days and 6% in the last 2. That's good for an entire year.
Are you looking at the chart for ZNGA perhaps?
Agree - GLUU potential is massive with only a $480M market cap, 0 debt, low float, 100% yoy growth, and list of growing hit games
ZNGA -30% growth next Q revised 25% lower with a 2.5 Billion market cap
GLUU +270% growth next Q revised 100% higher with a 450 Million market cap
Where should your hard earn investment dollars go? Duh.
GLUU revenues growing FAST
ZNGA revenues declining FAST
Both are about breakeven currently but GLUU EPS is on an upswing and ZNGA is downswing
At the current rate, GLUU will pass ZNGA in revenue in 3 quarters.
Yet, ZNGA is SIX TIMES as expensive as GLUU. It's a joke. This ZNGA miss is GREAT news for GLUU as a company, but most likely, a short term hurdle for GLUU stock.
short term resistance 5.30 (broken), 5.50 (we'll see), and again 5.70-5.80 (hope we see this by close tomorrow).
Was 5.30, which it broke through nicely this morning. Now resistance is 5.51 which, if it gets there today, will most likely hit a wall. If it breaks through 5.50, next resistance is 5.70.
I think this will be back over $6 by the close next Friday.