Okay so every paycheck I get I have about $600 or more leftover after my bills are paid. For the past 9 months or so I've been using most of that to add to my stack, acquiring 220 ounces at an average of $31.50/oz. Now I have a dilemma. I got a nice paycheck, but I can't get any silver for less than $35/oz or more..should I continue to stack even though it will raise my average? Or is there something better to spend my fiat on right now? I did pick up five 24 packs of bottled water for $2.50 a piece the other day as I had none stored. Just a little over a dime per bottle..would have gotten more but they only had 5 left. So the question remains: In my situation, what's the best way to spend $600? All the dollar is doing is losing value, so I want them gone!
You know for a long time I was so focused on keeping my average cost per oz in the $20's. Recently it hit $30 and you know what? I didn't flinch one bit. IMO keep stacking and keeping looking at the graph. Just don't buy when the graph is going parabolic. What we are experiencing now is not parabolic but could very well turn out to be. You may not have time to wait, maybe it will correct a little soon, I don't know. The key is to study the long term chart and realise $33 is still a pretty good price. It's not the cost that matters, it's how fast we get there. For example if Silver went to $70 really quick, yet we have a big correction to $45.......many people would view $45 as a bargain. Yet right now at $33 many are scared to buy even though it was a lot higher last year. In the end go with your gut, your brain is going to get in the way and be greedy.....or maybe it's the other way around..who knows
Appreciate your thoughts. Only thing that's holding me back from pulling the trigger right now at $33.67 is the fact that we just saw a more than $5 increase with barely any pullbacks..makes me think we're due to see it test $32.5 or maybe even $30 resistance. I'm interested in other people opinions...do you guys think we'll see a pullback? I know tozak's chart shows no revisit to the $30 mark, but if I did wait to pull the trigger, that's what I'd be waiting for.. Still being indecisive...wish I just knew the answers lol..
