If Silver Goes Below $ 16 Tomorrow...

[SevenEyedJeff]

I've already reached my summer goal, but each step downwards I'm going to pad it a little...

[roshie]

I've already reached my summer goal, but each step downwards I'm going to pad it a little...

What's your summer goal? I'm trying to convert 5% of my monthly income into silver. Perhaps I need to revisit my strategy?

[Malakai]

IMO it's practically garunteed to continue rising, like gold, even with a temporary lull in prices.

If you are looking for a long term investment and not to ride the peaks and valleys (though you can do that too if you can afford the risk) silver is still ratio-to-gold wise fairly cheap.

[Fox McCloud]

I'd wait a few more days to see how low it'll go, then, if I had the cash, at that point, I'd buy some more.

overall though, I'm not worried, at all.

[newyearsrevolution08]

Worrying over the $16-$20 per ounce on silver from day to day is a damn waste of time. Think long term with this stuff unless you are buying pounds of the stuff to flip from one week to the next.

I mean come on, say you buy 100 ounces for $1800 and then it goes up a little and you make what $200 give or take?

What I can't wait for is when silver ends up like gold which it could AND it goes from the $16-$18 on up passed the $200 mark+

Whether it goes down to $15 or up to $25 an ounce I am still going to buy.... There is no real reason NOT too for the price it is currently at.

If we were talking about gold though and playing around with $1k plus or minus per ounce THEN I would worry more on the day to day of it.

[SevenEyedJeff]

You're right. It won't really matter too much long term if you buy at $ 16 or $ 20, but the dips are a good excuse to pile it up. We know the fundamentals of our currency are deeply flawed and it will become apparent in time.

Incidentally Jim Rogers did talk about how he thought we were going to have a dollar rally several months ago, and he said he was going to use that as an opportunity to get out of the dollar. Here's the article:

http://www.forbes.com/2007/12/13/china-stocks-commodities-books-cz_mm_1213jimrogers.html