I equate this low to mid $30's level like the $16-$19 level back in late 2009/2010. Simple consolidation. I know I'm buying heaps at $34 and below because eventually Silver is going to do another double when they announce the next QE and it will go up just as fast as it did from $21- $49. Don't make the mistake like many do which is to buy Silver when it is rising. Times of consolidation arent sexy but its exactly when you need to be buying.
Bought on the dip yesterday...100 oz at $31.73. Came back today, bought 3 oz of gold at $1724. Frankly, I don't see how you can only buy on dips. You don't know when the next dip is and you could easily miss a $3-$5 window on silver waiting for the next dip. IMO, buying up is just as important as buying down. It's keep you moving and staying in the game vs staying idle waiting around and "wishing" for a dip which is actually counterproductive if you already have a position. Good luck, gents!
"Buy the dips" nice advice but its only half the puzzle. When do you sell? Love to hear some advice when the best time to sell is instead of being told when the best time to buy is constantly.
That's right. Silver is just a medium or road map for me at least to achieve the main goal - financial freedom. Where is the top? I don't think it is a good idea to sell at the absolute top. When Gold moves up and eventually reach a very high figure , say 5 digits, silver at least 3 digits. Government will be changing the tax law to reach the pocket of PM holders because the profit will be too huge. I think it is best to sell 20% below that TOP.
I do not believe Silver or Gold lead to financial freedom unless someone has figured out a way for it to cashflow or pay a dividend, thus replacing your other earned income. Simply selling it for a profit is not going to get you there. IMO, they are simply tools towards wealth preservation or a hedge against inflation. An ounce of gold or silver from 1900 is the same ounce of gold today and essentially can buy the same amount of tangible asset. However, a cash flowing asset purchased in 1900 could have produced an incredible amount of cash flow in the same time that frame would have resulted in 1000s of percentage points returned over your initial investment, plus you still own the investment. If I may offer a suggestion....If you are looking for financial freedom, try reading Robert Kiyosaki's book Rich Dad Poor Dad and learn abount income producing assets: Single Family houses or Multifamily apartment complexes that produce monthly cash flow. The book changed my life. Good luck.
i have spuiked gold previously but if you dont buy gold in the coming week you will be frozen out of the gold market, please get more gold NOW
Hehe interesting point. Single family houses or multifamily apartment, it can be business and royalty rights as well. collecting income producing asset like collecting silver bullion is the road to financial freedom. Hopefully those income can be gold / Silver so the income can purchase the same amount of stuff. Thanks for the advice. Profiting alot of money doesn't really mean financial freedom.
Best time to sell is when you absolutely have no choice and need some cash! otherwise why would you want to sell??
lol - by that time i reckon governments will be out on their arse! in any case - what profit?? it's all inflation mate
That's all good for you in the USA mate - where property now could actually be an 'asset' and produce income. Here in Stralia, unfortunately property is a big fat anchor around your neck and simply takes money from your pocket and transfers it to the banks and the government. Australian Property = Big Fat LOSS!! savvvie???
May be true about gold but to say that silver has not changed it's fundamentals since the 1900s would be full retard
