Hi Rodin and All,
Thanks for inviting me to this site. Let me tell you I got massacred in Silver and Gold today. I was following KOG he literally obliterated people in his gold calls the last few days. Blatently saying "No Stops" that he would give us the exit. Well he exited and then did not tell his subscribers and alot of people over there lost around 120 ticks on gold the last few days. Luckily I had my own stops in place and did not lose that much on his gold plays, however my own silver plays lost me around 80K (Ouch). I have 2500 Ozs at 11.14 and want to increase my position to around 15K Ozs so on the next move up I can hopefully get close to even but I need the high 16s to make it.
I am just asking for your best guess as too where you think I should angle in for the balance of the 15K Ozs as I am willing to deposit more into my account and just hold until breakeven as long as it takes. I figure if I angle in at the current level my average price would be around $10.85. If I put in around 25K more into my account Silver would have to go below $9 for me to be wiped out.
So do you guys think we hit high 16s before we hit $9? I will absolutely not sell/trade until high 16s. Again I am willing to wait as long as I have too or is there that much more downside.
The thing I am mainly worried about is that if the Economies of the world slow down a lot more the industrial demand for silver just won't be there. I know there has to be something going on that with all of this extra credit and money being created we should already be in the 20s in Silver, but someone (conspiracy, maybe just the markets) does not believe there is going to be a problem and the paper money and stock exchanges are a safer place for money.
Humbly Yours,
Richard