[meyer]

When it bottoms out, Silver is going to be a steal.

At what price would you consider it a steal?

[Nachum]

At what price would you consider it a steal?

Good question. I think it is undervalued now. The problem is that the traders have been forced off the market by these margin rules. I think we can assume that when the price stabilizes over a number of days near on set level, then that would probably be a good time to come back in.

[hinckley buzzard]

Right. If it does correct to 30 I'm a buyer too. The long range trend has to be up, but no chart can go vertical for long. As I say, silver is a commodity, not a stock, and it acts like a commodity-- which means sell-offs are inevitable and sharp when they happen. I would not buy silver today. For that matter I would not buy gold today either, for the same reasons. I'm happy to leave some for the next guy, and let him worry about the coming sell-off. The current spike could be the blow-off top already for all I know.

41 posted on Friday, April 29, 2011 3:08:32 PM by hinckley buzzard

I hope you all read my comment from last Friday afternoon when silver was at 48. Little did I know I was only hours away. Right now it is at 39. It could find support around 36-37, or go to 30 as I suggested last week. If you are looking for a bargain, it's your call.