Posted by Dan (Michigan) on December 07, 2005 at 09:19:58:
Are you suggesting that I abandon my high yielding “Lonnie” deals, which net me on average greater than 150% yield, for a very speculative investment in precious metals?
GOLD up 9%, SILVER up 16% in 5 weeks… - Posted by James
Posted by James on December 07, 2005 at 04:33:38:
As I posted, Oct. 30, below, I suggested then, and still do, that we move into more suitable repositories for wealth at this time of year.
Silver was $7.50, now is $8.75. Up 16+% in 1/10th of a year.
Gold was $470, now is $512. Up 9+% in 1/10th of a year.
The 1980’s are back, boys and girls, and this time, we get to be smart about our entry and participation. This market is not an artificial attempt to arbitrarily ‘corner’ the silver market, as the 1980’s run was. However, the last year has seen a 70% market upturn in the Gold Jewelry segment alone. China and India, have BOTH changed their domestic laws to allow the populace to buy and hold metal. Depricate the Asians, and their poverty, as you will, they are buying. That is 2.5 BILLION people, or 40+% of the world who can now buy some quatity, no matter how small. I suggest just this;
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Locally, I want you to answer the question, where can I physically buy Silver/Gold over the counter, right here, locally? (Always take delivery, of possess, your metal). If coins are not in the yellow pages, call gun stores, and pawn shops. These are too high however, 99% of the time. Google your location for metals.
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What is the price system my local retailers use? (Locally, my coin store uses, spot minus .25 cents per ounce for silver to buy from me, and sells to me at spot plus.50 cents, a 75 cent spread. Note that this spread was covered in about 3 weeks after Nov. 30) [Spot is found at]
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Set a % you willing to protect, by risking it, in metals. I suggest a risk amount that you are comfortable with. Such as 10%, or perhaps some of you crazier types may join me in 30+%. I am considering taking 90% of the next $1000 I am getting in the next 3 days or so.
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Do not invest merely because I stated 5 weeks have been a strong run up. Get information. Decide on a ‘trigger’ for you to jump in. Be advised the $500 Gold price just got shattered, with no psych pullback.
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Know how and why you will get out. A percentage return is acceptable. However, in a liquid market, such as metals, a move down is a good indicator. I suggest a 10% trigger to start.
i.e. If $9 silver moves to $8.10 get out some, or all. If $9 an ounce silver moves to $15, then your trigger moves right up under the highest achieved level. Therefore, look now, for a trigger at $13.50/ounce. At $20, move your trigger to $18. I think the point is established.
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Don’t get out arbitrarily at x dollars or % returned, get out at the market retreats. I made 877% in 3 weeks during the 1980 runup…I think 4 figures % return is available in 2006.
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Although Title 12, CFR tells us plainly that Lawful Money is Gold/Silver, the gubmit dont give ya none. Title 18 identifies the junk fiat money in your pocket, FRN’s are “Obligations of the US Government”. Just as in 1980, Gold and Silver start to return to the trading market in great upswings (And concurent downturns in FRN’s).
You should learn to trade Silver ‘rounds’ (Coins or commemoratives), and ‘bars’ (recangular bars in 1-100 ounce sizes are common. For instance I would not be embarrassed to offer my local Paki or Indian convenience store operator 2 ounces of silver for 9 gallons of gas, TODAY! Buying them today, and finding such a trader, I can use the ‘roll’ (20 usually) to buy greater and greater amounts of gas over the next couple of months, while using my declining FRNs’ to buy appreciating metal.
This is just my .02 cents, since somone asked 5 weeks ago about what to invest in besides mhs. Take this information just at its worth, its free, so check for yourself, and weigh, deliberate, and consider my advice. Find out what others think. No skin off my nose, either way. Thank You.
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