Skip to comments.Daily finance & investment thread (2-15-13 edition)
Posted on 02/15/2013 12:45:42 AM PST by dennisw
Trying to focus on the markets for today and each day and the economic news
A number of people have talked about such a thread. Lets see how it goes. This is where you can impart some investment wisdom to your fellow freepers. You can vent about the big one that got away. You can chime in how Obama is out to wreck American capitalism.
If you see another FR economic thread you like and want to link to it here, please do
Post your favorite economic site links. Your favorite precious metals blogs and sites
Apmex.com is a solid place with good reputaion to buy precious metals Kitco is a good site for charts and other precious metals information
Ping list -- on or off let me know here or via freep-mail. If I missed you then Fpreep-mail me
New York Fed Manufacturing Survey Report Feb 15, 2013
Federal Reserve released its monthly survey of manufacturers this morning.
Silver just broke below $30. Normally I’d think this is a bottom — China is closed this whole week for New Year’s, so there’s no balance to the usual NYMEX fraud; any round-dollar number is always a sticking point for silver, and the “tens” are even more so, and the last seven days in a row have been pretty much all down.
But the next COMEX option expiration, always a favorite candidate for a short-term low, is February 25, already only five trading days away. I look at the graph over the past year and see that silver goofed around at $28-ish for almost three months. IMO it’s more likely that “they” just keep working it down toward $28 by then than let it go up for two or three days only to smack it back down to $30 again. I’d rather be buying at $31 if I’ve seen $29 first.
Silver hit 28$ last June. People will rush in and buy at that price. A few months of Obama style calm in USA and gold might go down to 1500$. Especially if world tensions go down for whatever reason
Great place to get quick read on prices for formed gold and silver meaning coins and bars
UPDATE: Gold Dips Below $1,600 First Time Since Summer As Sell Stops Triggered
I’m not panicking, yet. Whenever gold goes way down, I remind myself that there are a LOT of ‘faint of heart’ in a game I’ve been in for 13+ years, now. (Those that own g & s only on paper are truly gonna get screwed.)
Here is a Graph\Chart for the baseball fan.
Here is another sports site for graphics