Don’t Panic…Buy!!!
August 18th, 2008
Don’t Panic…Buy!!!
Timothy Silvers
August 17, 2008
The man with the fortuitous name bases his bottom call on oversold metals and overbought dollar as well as the decline in commercial short interest (notice I said decline not cover). He would like to see price action toward the end of August before determining whether silver will quickly recover or take several months to mend the technical damage.
Good read. I know we all read and hear about the shorts this, manipulation that, but for me, well, it’s just manna from heaven! I hope we DO go sideways for a couple of months. Every delay in price increase is more silver in my hands. From some of the replies, it seems we have a few traders and that’s cool, but with IRA’s and educational funds for my daughter, I’m in a buy and hold position for the long haul with a 10 year min outlook. Besides, I get enough market action with my Black Angus cattle, corn, and beans… and it never seems to help much with us farmers!
Almost no retail silver left to buy. Tulving only has eagles for 2.50 above spot for delayed delivery and some 90% bags for 75c above spot. Colorado gold has no eagles or 100 oz bars. Rounds and 10oz amarks are up to 4-8 weeks delayed.
It seems like even if silver prices decrease, the increased premiums the retail dealers are putting on their silver nulify this time to buy. Very frustrating if you do not have your finger on the trigger at the opportune time.
@haoleloco Well I have been pulling the trigger all the time on this falling game. This is amazing to me. What can I lose….??? Got in heavy again at $16.50, and again at $15.00 and again at $12.50……I just keep doing a price average buy…….boy I hope this works….I just can not see Silver or Gold at these levels 3 years from now….this is what is keeping me in check. We will see how long it takes for Bullion Direct to deliver all of these boxes of Canadian Maples. My gut feeling is….”It is just too cheap”. My first thought when all of this sh*t started to hit the fan on the decline…was to sell……and I took a step back and re-read my favorite PDF….here it is…
http://www.silverstrategies.com/publications/ThinkandSTOP.pdf
Ignore the “Bad Site” warning if it pops up…..this is not a malicious site!
This is my favorite article…I have it framed on my wall. It keeps me in check!
This is game on time brothers……….This will put us at the top of the ranks from what I am reading!