Just a FYI I got sick of waiting/nervous I would miss it so I pulled the trigger on 700 oz today. For the rest of you judging on my past skill at making these calls I would suggest there will be a huge price drop tonight, making for some awesome buying tomorrow.
You never know. I am sure you wont regret it as much as not buying it now and then seeing it shoot up.
I try not to worry too much as I dont plan on selling for at least 20 years and this is not the dearest or cheapest silver I have bought so far. But I promise you I have the luck of a black cat falling of a ladder into a smashed mirror when it comes to timing these things so get your truck ready for the fall!!
I dipped my toes in a little further yesterday, and for the same reasons as JoeyJoeJoe. The sentiment seemed very low with many waiting for lower prices which is usually when I buy anyway.
I probably missed the boat, wouldn't be the first time nor last lol All the logical pointers are bullish imo but I smell a rat. I don't have any charts or even a crystal ball but like tozak I think one last push down could come Very Soon, Friday? But I also think the push down will be more like a spike down as tozak also mentioned. I'll probably miss it IF it happens anyway. Then a quick spike back up. Logic says it can't happen Friday.....but when lately has the pm market being doing what we would expect it to do. I hope I'm wrong......about missing it that is (-;
I find this thread - particularly the title - extremely amusing. If you haven't bought yet then im afraid you havent had any money with which to buy!
He he....finger on the trigger....will pull it so I can say I shot the sheriff but I did not shoot Bernakeeeeeeeee
Glad I found this thread because I was wondering what peoples opinion were on the current price of silver. I was going to buy some Au this week and then I started thinking about Ag which I haven't actually stacked in a while. My cost average is pretty well up there considering I got in while Ag was climbing steeply :/...but seeing as I had only just started stacking I guess that's the only way you learn. I'm thinking about getting some more Ag to bring my cost average down...is now the time to "back the truck up"? or is now the time for patience? I'm leaning towards the "buy big now, bring the cost average down" side of things rather than the "It might fall further yet" side. Smoke em while ya got em?
I think you either back the truck up or cost average, I don't think you can do both at the same time, like binge drinking and drinking responsibly. Binging is more fun but you have less regrets with drinking responsibly. If you back the truck up now you might lower your dollar cost average but if spot drops again and you have no money left then you are back in the same position. Personally I binge when something new comes out, like the Dragon or Snake 1oz, just to make sure I get some, then I regret it as I watch the prices tumble. My Self Managed Super Fund is far more responsible and buys an ounce of gold or a kilo of silver each week on Friday, depending on the Gold:Silver. Neither are doing particularly well but I am far more satisfied with the SMSF as the drop shows no sign of stopping so each moderate purchase is slowly lowering the average. Still, that is not advice, just what I am doing at the moment!
If your investment is long term ie years then it would not hurt to buy a little at these prices. I have! However prices could go either way in the short term. My guess ( so don't bet on it ) is that lower prices remain very possible in the short term. Good luck
Thats the other thing that is running through my mind....I'll wait a couple of days atleast, and by "backing the truck up" I guess I really should have said buy a portion of Ag that will bring my cost average down by about $4/oz, but to do this I will have to increase my Ag stack by 50%. I'm long term in Ag so I guess it shouldn't really matter, but I thought it might be an opportunity to bring that average down....like another poster said, these prices look cheap to the prices I was buying at previously!
These prices look dear compared to the prices I was buying at previously. If I buy now I'd be increasing the average cost of my stack considerably. That's the problem with dollar cost averaging, it works better on the way down. The problem we've got is that the market doesn't care about either of our personal situations. C
+1. It is a furphy. The only thing dollar-cost-averaging achieves is giving you the illusion that you feel better about your investment loss.
