Wait 3 more days before committing money to any purchases. It seems to take that many days for things to find true direction after such an extreme move.
I am taking a hedge on gold in the short term, I expect gold to test $1000 USD and the dow jones index to break through record highs in the coming months. Its a bet that will pay off handsomely or horribly, but I'm not putting the house on it.
I guess we can see what the weekend will brings. All ways nice to buy over the weekend when you don't need to watch spot every 30 minutes.
I jumped in today and picked up a couple bars while its under $20 aud. Would rather buy bits at a time on the way down then try and presict the bottom. Just playing that percentage/average game.
When it's above the level at which you bought the bulk of your metal. For instance, I bought the majority of mine under AU$19, so anything over AU$20 seems high and I won't buy over that. It feels good to average down, not so good to average up. But it depends on how big you are invested. I've bought enough now that I'm happy to not chase it up and know I haven't "missed the boat" if it goes up. If it goes down, well, I'm always temped to add some more on the dips.
A lot of mine is under 20 too. So I usually at the least grab some unallocated each time it drops below 20 again. I keep eyes open for a good deal but under $20 I always feel I should grab another 10oz at least or i'm wasting the opportunity. If it drops below 19, i'll average down more I guess....