Its about now that I have bought my last 3 large purchases...in a rising market. I bought at $33, it crashed to 18.50 I bought at $27, it crashed to 21.50. Its now nearing $24 and Im thinking of another buy...My cash reserves always seem to hit "buy time" right before the market takes a monster dip... The general sentiment seems bullish...so tempted to pull the trigger..
That's not how instincts work Your instincts are what made you realise there was something not quite right in the world of finance & money and steered you in the direction of PM's. Now it's time to use the calulating side of your brain to time buying/selling... that way you can blame your brain (not your instincts) when you time your moves poorly
Well, you're not alone! I've been in a long position @ $23.75 since May-ish. The pressure on metals should be alleviating with the prospects of the Fed tapering this year drying up. If we can get up to $27-$28 by the end of the year, I'd be a happy man.
It is your emotions that are failing you as emotions usually will in investing. Discipline is what protects you from emotion. If want to successfully invest based upon emotion, sell when you absolutely have to buy and buy when you absolutely have to sell.
Buy a bit, if you can afford. Then, there will certainly be more lows and more highs. If it takes a big dip, then I will be eyeing the 18-19 USD interval. You might want to try a bit of DCA.
Good luck with it (ha,ha) If I had a $10 bill for every time I made a buy right before a good-sized dip Seriously, though -- good luck with whatever your decision is.
Why the large purchases? There have been bargains galore the past 3 months at sub $24. Start buying what you like now.
I am in the same boat as you, buying from the spot price of $31 and downwards. But there are Two positives, One is to be thankfull that you did not purchase at the $34 - $50 mark. Secondly is that buying now will reduce the average of your stack, this is always a great thing. Something I have been doing ever since, cheers.
SliderC, You are not alone. Many people, I am convinced, buy when the prices start to rise, thinking that this time it will be the last time to buy before the price smashes through the roof. The truth is, precious metals prices are, by nature, volatile and almost always, up and down (bull and bear) price trends in pm's (not spikes up and down) are long term phases measured usually in years rather than days, weeks, or even months....usually. Almost no one has a clue when exactly the absolute bottom is in before it happens and only in hindsight will they know. If you get it wrong frequently, just know that you are certainly not alone. .
My guess was $29 by Christmas, but my guesses suck eggs so I had a quick look at the future.....yeah I know lol. $17.49 I'm buying every week ( little bits ) because no one can really predict the future!?? [ I'm told ] Edit: $17.49 might not be the low, I expect to see this number several times, don't know when.
Well, I didnt buy at $24 and, so far, it seems like holding off a bit longer will pay off. $22.50 is my buy in price.
