For example the silver price is based on alot of things eg. US dollar ect... so Shouldnt somebody that follows the world news and economy be able to predict where silver will be going in say the next week or two with a highly accurate guess? i just want to know because ive been terrible at timing my purchases, i bought in the high 40s and the following month it dropped to 25, then when i thought it would drop more it started rising again and today i decided to get back in on it before it goes too high, but i feel like im going to buy at 30/oz and it will just drop back to $25, any advice?
stop worrying. It's a long term investment like property. Unless you buy thousands worth a day and feel like trading on a daily basis. but then good luck to you.
Some traders have a $25 price target to start buying in again. They are still waiting. Others say $16. The logical way is to have a look at a chart and look at the moving average. Went way way way above this last year. If your relying on news to react on a new investment you are not early enough.
I bought some silver in the 40's. Still not a bad move, you just need to accept that you may be on the sidelines for a year or 2. Waiting for the price to catch up again. Lock it away and relax. You've mad a smart decision
Yeah I tend to think we will have a lot more sideways action now than some of the gurus seem to think. Hope they are right though.
I bought a core holding recently (kept a bit on the side for some smaller purchases here and there) with a long term view. I asked myself, does the risk of holding through a temporary price dip out-weigh the risk of no exposure in a big move up? I suppose, like all investments, it depends on your time frame.
I think it's pretty difficult to make accurate predictions short term, way too many variables and everyone keeps getting it wrong. If somebody gets it right, it's usually a fluke / lucky guess. I'm expecting it to drop more, had so many bills lately so i'm loving this time to be honest, trying to get some surplus cash ready.
You know I wouldn't care about the short term price of silver , if I didn't need the money so badly right now. I didn't need the $ back in april 11 but things change. This is my number one concern at the moment , and I'm regreting ever buying into this, only at this point in time however. If POS was going to the moon , I would be singing a happy tune.
Spot silver is like the share market, numbers bounce around by the second during trading hours. People don't worry so much with knowing the day-by-day value of their most valuable asset most have - family home.
Im not really worried, i just want to have that feeling of making a good purchase, also im thinking of buying and selling short term physical, perhaps just to turn over $50 per sale just to keep myself busy and make my hobby more interesting, im alot more understanding on the volatility of silver as when i first got into it it was going up and up and up, thanks for the replies anyways
BootyBandit HMmmm, Sounds like you are an up and coming FOREX trader. If you can predict the slightest change in the correct direction. You stand to make a very lot of money. A very lot very quickly.
I don't know how long it is going to last, but silver is in an upward trending channel right now. This is about the most predictable silver has been in a while.
Or you could buy the same amount of silver that you bought at $40 at $30 and cost average your stack down to $35 and not have to sit out for a year at spots mercy. Just another option.