And now I feel like an idiot. Fundamentals suggest to most posters on HL that PM's should be much higher later this year. Right now, this poster feels like his past rants regarding "fundamentals" have been nothing more than cheerleading. What goes up, must come down. What comes down.....will "gravity" let it go back up?
I'm still holding but feeling rather bitter at recent developments which make absolutely no sense to me!
If the circumstances make no sense to you then the correct course of action can only be nothing....
If I were you I would be ordering another monster box right now and cost averaging down.
I agree! We are well within correction territory. Corrections are welcome things in a secular bull market. On days like this I look at long term charts.
This is an exception to the general rule of not adding to a down position. The fundamentals that lead you to your purchase have not chaged 1 iota. Although it may be tough to think of today, your entry point at $31 was smart. On your purchase you arrived at where only maybe 2% tops of investors are - an owner of physical precious metals. I agree with Bonger-There will come a time when those lovely green boxes are not readily available and you will be a genious for having bought it right when you did.
Yeah, man. Short term, silver is always fraught with risk, and subject to the whims of the paper peddlers. Long term, you'll reminisce about the "good ol' days" when it was just $31/oz. If you can afford it, dollar cost average by buying more on these big dips. The top won't be in until it goes parabolic, and when your cashier at the grocery store starts a conversation with you about it.
No, right now the laws of gravity are not working right. That is why the mining stocks have dropped. Because when you toss a brick, it should fall, but not in this market. Bricks can fly, but only for a short while. Then the laws of gravity will work again. Recent price developments do not make sense in the short term. This will pass, buy and hold strategy has worked for long term. It takes a lot of patience to be a profitable investor.
....despite this blatantly obvious, bullion bank take down, the crooks can't seem to get much bang for their buck....as the dollar cannot even get through resistance today....still under .79 right now, and could not stay above that level....lets see what they can muster up for the rest of this day.... i have never seen this board so postively fired up and ready to buy, in the midst of a takedown....no more fear...this game may be changing, everybody is a buyer..its..AWESOME BABY....