Is it the latest talk of Greece defaulting by the weekend, or have I missed something? Nice to see a decent upward spike for a change whatever the reason. Peace and love doods.
I'm wondering, does anyone think the PM market will start bouncing up and down like a rubber ball the closer we get to the presidential elections? Especially if it's a close race in the opinion polls.
If you adopted the same buying ideology all seasoned stackers advise - long physical, cost average - then *any* time is a 'good' time to buy. Trying to 'time the market' in the most heavily manipulated commodities market in the entire world is just gambling at best, sheer folly at worst. If you already have your foundations realised on the end game, then the day to day movements don't really matter.
I could not agree more about adopting a cost averaging strategy but with all these wonderful graphics we have the tools to make a fortune ! Lies and statistics ring in my head and when we cannot predict the weather precisely despite billion dollar computers then I tend not to look at all these charts comparing ratios that all look good in hindsight. Back to the charts - is this thumbs up for diving into gold, holding, or getting out? The traffic light signal system would be simpler, green for buy, amber hold and red sell. What is the colour now armed with all the stats ? How did this thread switch from silver to gold anyhow ?
Sorry, tried to bite my tongue, but...... It is always easier to dump on something rather than bother to learn about it. Lack of understanding of a quite profitable method should not be mistaken with the delusion that it is bogus or illigitimate. Members on this very forum have repetedly demonstrated that sheer folly is the notion that any time is a good time to buy.
Okay.. minutes of last Fed meeting to be released in the next day or so. Price spike probably due to speculators betting on QE3 or similar to be announced (I don't think so)
As a complete "chart" moron i'd have to stick my neck out here and say it's a good time to BUY ... savvie??
plain english - In previous occasions when gold has dropped in spot, it usually takes around or less than a year to get back to the level before it dropped. It then consolidates for about 16 to 20 month at around the same level and then sky rockets. This time around, it has taken longer than a year to get back to the original level... meaning it hasn't even gotten to the 16 - 20 month consolidation period yet.. I guess if you believe it is still following the same pattern as previous corrections, it will get to our previous high at 1900ish and then consolidate for a while, then sky rocket. Therefore following the pattern, right now is a good time to buy as we are close to the bottom of this leg..?
I stand by my statement. I assume your demostration relates to people who bought at $48 and are now feeling the pinch, assuming they made a bad choice and sold out at a loss? That in no way undermines the position - in fact, it reinforces it. LONG physical is just that. You buy and hold for the LONG haul. I've stated a number of times on this forum (to the angst of some I've no doubt) that after $20 Ag we'd see a lot of opportunists come in to ride the bull run. It's simply a fact of economic life that a lot of the cash comes into the market near the top and then complain about retraces making the investment choice a 'bad one'. I maintain that if you were here simply to ride the bull market on commodities (like property and every other damn bubble out of the central banking system in the last 40 years) then you either miscalculated the fundamentals of precious metals purchasing or were naive enough to think you could get a free ride on the most manipulated commodities market in the world today. My position is in no way undermined by the fact a lot of impatient hot cash hit the market in it's 40s and people were upset silver didn't go 'to da moon'. If you bought silver at $48 per oz, guess what? You still have that silver unless you panicked and sold out at a loss. Take the advice of a stacker and be here for the long haul. You will absolutely not regret that decision long term if you do.
Yes, I was referring to those who bought high. Wrong. This is a fallacy. The notion that you have not made a loss until you sell has brought many individuals and corporations undone (lehman Bros? ::/). This flawed philosophy is often used to rationalise and excuse an investment mistake. Once in the red, you are sitting on a loss as measured in opportunity, $ or anything else. No matter which way you want to look at it, you are backward in oz's.
^^^ The exception of course is if there were other values not related to its sale price embodied in the reason why you bought it. Many subtle and not-so-subtle reasons, but taking a car as an obvious example, even though a car loses, say, half it's value by driving it off the lot you haven't "lost" half your expenditure. Hence, 100% agree for paper silver but not necessarily for physical. (Just being picky )
The question of opportunity is only relevent if you're not holding long. I'm holding long. If you're going to play the short ratio or spot game in metals, you are either a gambler or crazy IMHO. Buying $48 Silver isn't a 'mistake' IMHO. Holding onto paper currency is. Different paradigms here.
????? The loss of opportunity to have purchased more oz's for the same dollar amount spent stands in all cases - long-term or short-term, physical or paper, liquidated or not. In this scenario, you are backward in oz's no matter what your timeframe - and interestingly, this lost opportunity is magnified as price rises. If this wasn't the case, then stackers wouldn't bother focusing on spot, cause it wouldn't matter anyway. Any alternative way of viewing this is an act of denial.
