What’s All This Then?

Should I Buy Silver Right Now? (updated 8/15)

What’s all this going on?  What’s that I see on the silver chart?  Is it yet another day of green?  Dare we come out from the safety of our precious metals correction hiding places?  Not just yet, friends.  We need to acclimate our eyes to the sunlight first.  For me, that means that I’ve been moving my laptop every closer to the mouth of the cavern where I’ve been residing for ever so long.  (It’s not been by choice, of course.  My wife won’t let me back into the house until price heads over $30 again.)  My tattered clothes and beard growth have made me virtually unrecognizable.  I’ve grown accustomed to my home-away-from-home though.  The critters are kind and have been very welcoming and the Wifi reception is surprisingly strong here. Yes, it may be a little too early to call the bottom of this correction, but then again…

buy silver

Look at the pretty white bars!

If this was me, I mean the old, regular living at home me, and I had access to some funds, I’d probably be itching to make a small purchase here on a pullback.  Remember, that you never want to purchase on price rises.  It just doesn’t make sense, friends. Don’t chase price; let price come to you. I know that it’s hard to remember sometimes, especially when we’ve got some paper money burning a hole in our pockets and we see the price rising strongly.  We fear that we’re going to miss out, but trust me, everyone, you’re not going to miss anything.  You will have many, many more opportunities to make a wiser purchase in the future.  We are not short-term traders here.  We’re playing a longer-term game.  We’re making our buy and sell decisions off of the weekly charts, maybe even the monthly charts; definitely not the daily or intra-daily charts.  If that’s more your speed, then by all means, go with God, friend.  I’ve played that game before and it didn’t work well in the long run.  I made money and I lost money at it.  In the end, it was not fiscally, nor physically healthful for me.

For now, let’s enjoy the rally and see where it takes us.  I’m currently writing a piece (that seems to get longer and longer) about the two sides of the precious metals markets:  The ancient, spiritually symbolic nature of the metals and the obsessive, insatiable craving of “gold fever”.  Stay sane, everyone.  Keep your perspective while working with these markets.

I’ll leave you with this vid from Aussie Brian Engeman who is the Director of Ainslie Bullion.  As you will see, he is wildly bullish on the white metal.  Though you’ll have to do some metric conversions, you should get the gist. Focus especially on the part of his message where he recommends purchasing your silver in more “convertible” (smaller) sizes.  We talked about this in the Buy Silver Bars article a bit and I still have to agree with the idea.

As always, thanks for reading!  We encourage you to provide your comments and ask your questions about silver, no matter how “basic” they may seem to be.  As I tell my students, if you have that question, then someone else does as well.  Ask it!  This site is designed for beginners so don’t be shy.

Remember, if you’re new to the site, make sure you head to the To Buy Silver article and start there.  Let me recommend the Silver Price Forecast as well for a good read.  J.

August 15 Update

Wow. It’s been so long since we had a nice few rally days.  The first couple of days you could feel the tension.  Things are easing up now and folks are getting comfortable with the rise.  That’s always a dangerous state.  It’s said that we “climb a wall of worry,” so when we’re not worried, then I worry.  Actually, I don’t worry anymore.  I let my stack of precious do the worrying.  I mentioned about waiting for a pullback before making another small purchase.  Heck, maybe the last two weeks was the pullback.  As always, we shall see.  Enjoy the rise!

price of silver

Now that’s a pretty site – Hitting a resistance zone though…

Comments are closed.