Thinking of selling stack

[StackSellRepeat]

1 hour ago, JunkBond said:

The vultures will be circling soon... 😉

🦅 don’t mind me 😉

[5huggy]

8 minutes ago, mr-dead said:

1st rule for me is dont get emotionally attached to your investment (bitcoin $19k to $3.7k and people didnt dump is a good example)

I dumped my whole stack in 2016 and used the cash to pay off my house which I have never regretted for a second.

 

I always set myself goals and targets and stick to the plan.

Totally agree with sentiment too mr-dead (good on yer -BTW)

But Now is not a selling time I feel!

[FFkook]

Vulture '87 reporting for duty!

[AuricGoldfinger]

“CAWWW CAWWW” (makes vulture sounds) 🤑

[Cornishfarmer]

10 minutes ago, HelpingHands said:

If you're 50/50 on whether to sell maybe sell 50% of the stack.  That way you can keep the better half of the collection.

This is the thing, no offence to people here put we all want a bargain and not that keen on paying what a coin is worth.      Say a 2012 Somalia elephant can go for €1500 + but try getting that here any may struggle.   @Roy is right I’m thinking out loud. But it’s made me think of exit strategy so might convert the semi to bullion

[sixgun]

25 minutes ago, KevinFlynn said:

Well, I remember a higher relative gold price in the time since I began stacking in 2011.

Do you have other wealth preservers in your portfolio (real estate?)? If not, I would at this moment not shift from precious metals to fiat.

What was your reason for investing in precious metals, did you have a goal or a general exit strategy?

i think you will find real estate will not protect you - the housing prices in the UK are inflated. i saw a Max Keiser video today where Stacey was saying she was in the Twitter conversation and a guy who used to work for the BoE said they have done QE to pump up asset prices. That means houses - house prices are pumped up and could take a tumble when people lose their jobs and firms go bust. Then we have interest rates and defaults to repossessions - price could halve easily and then some.

[AuricGoldfinger]

33 minutes ago, Roy said:

Steady on @vand!

You're right, of course, but @Cornishfarmer is no fool.

He's just thinking out loud I think. We all do sometimes. 

👍

When @Roy tells you “steady on” you know you’ve gone too far! Haha 

[HawkHybrid]

what does your strategy say you should be doing in a

situation such as this?

imo real estate assets won't protect you, but owning your

own home will help you regardless of house prices.

maybe consider having at least an emergency stash of

sovereigns. I feel now is not the time to sell pm's and try

and pick a top. people have held onto pm's for many years

to get to this point. there maybe some downside(where's

that retracement?), but the upside should be a lot bigger

from these prices. the probability is that you've gone

through the low performing years. you just need to

re organise and hold strong to reap the benefits of the

better performing years.

(with the us treasury bond mess, I wouldn't chase

interest rate returns at this point)

 

HH

[dicker]

Who knows?  It really is a personal decision and based on circumstance and reading of gold price. 

Perhaps sell some but not all to balance your investment?

Good luck in whatever you chose. 

Best

dicker

[Thelonerangershorse]

Just out of interest, what exactly is in the stack?

 

 

🦅

[CadmiumGreen]

In this instance with gold approaching $1300/oz and the current global economic and political climate, I would recommend holding strong. I guess we can somewhat thank the Democrats reclaiming the House of Representatives in Congress for the current rise in gold? 🙄

[KDave]

@Cornishfarmer asking a forum full of stackers if you should sell, you have been here long enough to know better.

My thoughts we have seen many years of downtrend and consolidation do you think selling at the end of that period is a good idea. Everyone here is saying HODL though so now might be the time to sell, strong contrarian indication.

[shortstack68]

13 hours ago, 5huggy said:

SIT TIGHT! Buddy 

HODL - - the market will repay you for you patience - - you say "With gold creeping up to over £1020" -  it's not even STARTED YET! - - don't sell out too soon

ALL IMHO!

I think gold is in an extended 5th wave, next wave would be wave 1 which is down.......

[vand]

The real price of gold went up 5% in December! 5% - That's it! the rest of it was just GBP weakness.

Would you dump a stock portfolio because it had risen 5%, afraid that next month the market might fall back?  That is the sort of logical consistent that you need to apply here if you want to truly reap the advantages of being a stacker of physical precious metals. Once you sell your stack I guarantee you that you will NOT have any stomach to be buying back in if the market continues to march higher in future years and confidence in paper assets is gradually lost.

 

Did you stack metals and endure all that volatility of the last few years with the ultimate aim of acquiring 5% more fiat? Don't be the next Glorfindel.

 

[sovereignsteve]

48 minutes ago, shortstack68 said:

I think gold is in an extended 5th wave, next wave would be wave 1 which is down.......

Personally don't think normal charting theory applies to gold as its so politically manipulated. There is no doubt it will break higher at some point but I don't think we're there yet. Chances are we will see a downturn soon.

I would be looking to trade some gold now with a view to rebuying on the next dip, definitely not selling up as gold should outperform most other instruments medium term.

If you're only looking to replace your gold with such a risky 6.5 % return, I would say don't do it.

[vand]

We will definitely have a selloff. Nothing goes up or down in straight lines, BUT (as I pointed out in a brief exchange with a new stacker) if you think you can second-guess every wiggle in the market and protect yourself from selloffs and buy back in at cheaper prices each and every time then you are very naive. Nobody can second guess the market that well, but even if you want to try it you should do it in a trading account, not with physical.

[shortstack68]

4 minutes ago, sovereignsteve said:

Personally don't think normal charting theory applies to gold as its so politically manipulated. There is no doubt it will break higher at some point but I don't think we're there yet. Chances are we will see a downturn soon.

I would be looking to trade some gold now with a view to rebuying on the next dip, definitely not selling up as gold should outperform most other instruments medium term.

If you're only looking to replace your gold with such a risky 6.5 % return, I would say don't do it.

Yup, i'm holding my gold buying urges for now until the price turns around, only reason i bought one last night was the 10% off voucher

[sovereignsteve]

4 minutes ago, vand said:

We will definitely have a selloff. Nothing goes up or down in straight lines, BUT (as I pointed out in a brief exchange with a new stacker) if you think you can second-guess every wiggle in the market and protect yourself from selloffs and buy back in at cheaper prices each and every time then you are very naive. Nobody can second guess the market that well, but even if you want to try it you should do it in a trading account, not with physical.

Totally agree but if you do trade often enough you will catch most of these wiggles to some extent and make money. Until of course the time when it doesn't dip again! The market has been very accommodating in this respect over the last few years with no real trend.

The advantage of using physical for your trading is you can enhance movements by taking advantage of differences in profit potential of various coins ie buying the right coin at the right price, numismatic or seminum, not just bullion.

Personally not looking to trade at the moment but I might take profit on certain coins if the opportunity presented itself.i

[Frenchie]

15 hours ago, Cornishfarmer said:

With gold creeping up to over £1020, I think gold is overpriced in £ value

Gold is overvalued compared to what? After 7 years of significant decline, we are only at the beginning of a significant increase in the months or the year to come. You consider your Brexit-wide choices while the gold valuation fits into a global context.
In any case, gold does not rise in a vacuum

[HawkHybrid]

3 hours ago, shortstack68 said:

I think gold is in an extended 5th wave, next wave would be wave 1 which is down.......

 

my chart reading says there's a higher probability of it being

a 3rd wave that started 9/11/18, 1.618 projection of the 1st

wave gives a target of ~$1307 before a modest retracement

to maybe $1254. then it's a wave 5 (ending a larger wave 3)

target of $1360 by maybe april.

how did you get around that the 4th wave retracement dated

9/11/18($1201) gave lower prices than the 1st wave high at

$1218 or $1212?

 

HH

[sovereignsteve]

This is the problem with Elliott wave theory; very rarely do analysts see the same thing. They differ in their interpretation and are constantly having to re-evaluate. These cycles are only obvious when they are complete and a new one well underway.

That is of course if you believe gold can be analysed in this way😉

[Cornishfarmer]

2 hours ago, Frenchie said:

Gold is overvalued compared to what? 

Meaning gold is over valued in £ compared to $ and €. @vand gold up 12% in 3 months in uk which is a good return.   Made a good discussion. Would anyone be interested if put up first 2, 1 Oz gold queens beasts to trade for 2.5 Oz.  Lion not mint condition.    Not a sales post just guaging interest 

[HawkHybrid]

elliott wave theory is about probability and choosing the

best odds using the available data. if multiple different

angle assessment of the wave count matches then the

probability is higher. the problem lies in analysts that don't

do the legwork and get fixated on a single wave count,

these don't take time to do alternative(less likely, but also

possible) wave counts. once you have eliminated all other

possibilities then that which remains must contain the

answer. the favourites don't win every time.

(there's a limit to government manipulation. eg no amount

of government manipulation is going to get people to

knowingly trade a sterling silver coin for it's equivalent size

50% silver coin)

 

HH

[Bran]

Hi @Cornishfarmer

 

Ask yourself the following questions.

1. Do I financial need to sell for day to day living expenses ?

2. Did  you enjoy collecting your stack?

3. How would you really feel if you sold them off?

4. Would you get the same pleasure from  looking at numbers in a bank account as you would with your stacking?

5. Why did you start stacking in the first place?

 

Whatever you decide I wish you all the best.

 

 

[Nick1368]

I personally would not sell any of my stack now.

Why ? because  I don't need the cash right now,  also the market looks very interesting at the moment, it's definitely more fun to hold on to your stack than selling it.

would be foolish & childish to sell just because of a little bit of price rise in spot price, (just my opinion) .