Forecasting a pullback?

[blackrabbit]

So with the exploding metals prices I am waiting for a dip before making any more larger purchases. When do you think there will be a pullback? How low do you think silver and the rest of the PM"s will go on the next correction?

[Neckro]

One can only wish for a buying dip. =(

[beauanderos]

You're both making a mistake, but you'll learn the hard way

[Neckro]

Yeah, and you believe the IMF will let their Pawn, the USA, collapse Financially? If we're not fighting their wars. they wouldn't be in power.

[Market Harmony]

"correction"????

I thought that's what is happening today... Up big due to a price "correction"

[coppertone]

Quickly bought a couple of "Buy it now" listings on E-Bay this morning as melt value rose above listed price. I buy as soon as money is available. It may get cheaper........or more expensive!

[Market Harmony]

Quickly bought a couple of "Buy it now" listings on E-Bay this morning as melt value rose above listed price. I buy as soon as money is available. It may get cheaper........or more expensive!

Smart move. Congrats on the win. I hope the seller follows through. Keep up the strategy. It's a winner

[beauanderos]

Quickly bought a couple of "Buy it now" listings on E-Bay this morning as melt value rose above listed price. I buy as soon as money is available. It may get cheaper........or more expensive!

Smart move. Congrats on the win. I hope the seller follows through. Keep up the strategy. It's a winner

Whereas I took the course of writing to sellers whom I've bid from before mentioning " I don't mind bidding on your listings, but perhaps a private transaction would provide more advantageous pricing for both of us?" I offered $80 a roll for BU dimes and got one taker for ten rolls, 2 of which were low mintage years

[Country]

I think we're going higher before we get a correction. As long as the worldwide currency war continues, every country trying to cheapen their currency to get an advantage, GOLD and SILVER goes higher - much higher in the short term. If the competitive currency devaluation continues, PMs go higher. If I had to guess we might see a correction after the DXY (dollar index) falls to its nominal historical low around 72 (dead cat bounce at this level). That would be about 5 points lower, 7% more down, than the 77.79 level it is at close of markets today. The DXY fell 1% today; GOLD appreciated 2% and SILVER appreciated 4% today. Extrapolate that with a 7% decline of the dollar would mean GOLD could appreciate about 15% to $1540 and SILVER could appreciate about 30% to $29.50. At that point, we could see a sizeable selloff in the PMs. So, I think a correction occurs, but at a much higher level than $21 SILVER.

It's a BULL market in our PMs, so averaging up is an OK strategy. BUY PMs on every dip. .....

[Rodebaugh]

I bought alot (for me) last month and plan on doing the same this month at our new levels.

Like the backstreet boys song says..... Baby...BUY BUY BUY....Buy Buy

[MO-SILVER!]

I'm going to set aside a certain amount from each paycheck for the next few months to buy some silver. I find that small lots on craigslist are where you can get below spot and slowly add to what you have. I never liked buying a lot at one price anyways.

[Ardent Listener]

Like the euro of last summer the dollar won't just continue to go down from here. It will continue to rise and fall against gold just like the euro did. But the long term outcome will be that it will continue to lose ground against gold. But so will all other fiat currencies.

[Investin Cents]

It's about due for some kind of pull-back. Maybe 5 to 10%? But not much more. I was beginning to look for a correction before today's action and now it seems inevitable. Just not sure exactly when. It just feels like it has gone too far - too fast.

[beauanderos]

It's about due for some kind of pull-back. Maybe 5 to 10%? But not much more. I was beginning to look for a correction before today's action and now it seems inevitable. Just not sure exactly when. It just feels like it has gone too far - too fast.

You only feel that way because you've been programmed to accept as natural the price suppression schemes that kept silver either steadily creeping upwards or in freefall. Without knowing the cause, it sure feels as if silver has been unleashed, free to attain it's real natural pricing, based upon supply and demand.

[fb101]

Too fast this action. If we keep this up we'll be at AG 30 before thanksgiving.

We need a pullback here, but not much less than 19.99.

Either that or the game is over already..........

[Delawhere Jack]

I bought alot (for me) last month and plan on doing the same this month at our new levels.

Like the backstreet boys song says..... Baby...BUY BUY BUY....Buy Buy

Off topic, but....BACKSTREET BOYS!?!?! WT# ???

[Delawhere Jack]

I don't see any reason for there to be a pullback at the moment:

LBMA and COMEX are being exposed as insolvent.
The FED is buying up all the toxic sludge the banks have to offer.
The FED is buying back all of the treasuries that the PD's are required to purchase before "the ink" is even dry.
PD's are turning around and using the newly aquired scrip to pump up equities.
In addition to the MERS debacle, we've now got the "robo signing" scandal that will make toxic MBS into ultra toxic, glow in the dark sludge.
And on top of it all, the great leader is CERTAIN to spring an October surprise on us all.
The entire fiat world is racing to devalue.

No, I don't see any significant pullback in the near or medium term. Probably not ever, in our lifetimes at least.

(edited to add "significant")

[Hawkeye]

I would like a pullback in about 2-3 weeks (when I'm going to have some extra cash to buy more). Of course, what I would really like is a time machine to go back 10 years and start buying then. But I have a feeling that the rocket launch may have begun.

[Delawhere Jack]

It's about due for some kind of pull-back. Maybe 5 to 10%? But not much more. I was beginning to look for a correction before today's action and now it seems inevitable. Just not sure exactly when. It just feels like it has gone too far - too fast.

You only feel that way because you've been programmed to accept as natural the price suppression schemes that kept silver either steadily creeping upwards or in freefall. Without knowing the cause, it sure feels as if silver has been unleashed, free to attain it's real natural pricing, based upon supply and demand.

PING!!!!!

[Rodebaugh]

I bought alot (for me) last month and plan on doing the same this month at our new levels.

Like the backstreet boys song says..... Baby...BUY BUY BUY....Buy Buy

Off topic, but....BACKSTREET BOYS!?!?! WT# ???

yeah the backstreet boys....always good for a laugh

So what are the chances we are in a bubble......how would or can we know?

Sure I can sit here and say: the FRN is being devalued, other world currency is following suit, demand is historically high, silver paper is everywhere, economy is bust, people want something physical, so on , and so on.

But I can also say: Silver is way overbought, today’s jump was likely do to shorts covering their paper liabilities, the us mint is producing proof ASE's again - is their ASE bullion demand slowing, silver 90% is selling at a discount to melt prices, At the first sign of a second Stock market dip investors will leave their silver paper pushing prices back down.....more blah blah and so on.

The point is: Each variable can make or break silver. Variables of speculation are tough (at best) to quantify.....Soooo.. buying a little here and there consistently is fool proof in the long run.

[beauanderos]

You can cite all the reasons for both sides Chris, pros and cons... but in the long run, silver is going up... way up. Why? Because I say so!

[BamaJoe]

My advice....don't worry about it. In the long run it doesn't matter. Since 2001 I've been buying each month regardless of the price. I can remember times over those years when it almost hurt my feelings to pay some of the prices I did - after all, who could imagine paying FIVE times face for 90% or $10 for an ASE or $300 for an AGE??? Outrageous On the other end of the spectrum I bought 200 90% halves at silver's high point in 2008. All that really matters is that you keep stacking - you will look back at a later point in time and say to yourself "I'm a fricken genius".

[Ardent Listener]

Silver appears to be leveling off at $22.59 tonight. The drop today was just about a given considering the recent rapid increase in the metals and the rapid decrease in the dollar. I think it will close slightly higher maybe $22.80 tomorrow.

[beauanderos]

What's nice about pullbacks is that it gives those who are sidelined an incentive to jump in thinking "hey, look how high it went just recently, surely it will exceed that in just a short while again." Once a target is established, it can either prove overhead resistance, or a motive for others to join the fray, feeling that they're getting a relative bargain. If people understood, really understood, how rapidly the competitive devaluation of all fiat currencies is occuring, they wouldn't be shaking their heads in disbelief at the "too rapid" ascent of silver and gold. At some point, market timing "pull some profits off the tables" investors will get burned... sitting in cash when precious metals makes a parabolic move. Of course, that's just my humble opinion, but then again... I'm right