My Strategy in Precious Metals for the Next Few Months
I'm going to stack cash between now and the next 2 months and buy big the next time there's a major dip (1.5% isn't big enough based on my strategy).
I'm waiting for a larger drop before I make another big purchase but for casual stackers, I would definitely buy a few ounces or fractional pieces now since it has just taken a hit.
From what I've seen in over 10 years of precious metals investing, it's best to be patient and calculated, and not jump into new positions based on emotions or reactions - you should "sleep on it" and wait out some of the bigger purchases, and I see another one coming down the pike as soon as the opportunity presents itself. But if you tell yourself "this is the bottom" and you buy big now, you might be kicking yourself when the spot price drops another $3.00 per ounce and you bought big time when it was higher... just me 2 cents.
Good luck to my fellow stackers!
Great plan, but once silver is at real value, will it really matter what you paid for it.
You make a great point ~ I have a set plan to pay up to a certain amount (extravagantly more than silver's current spot price) before I stop stacking but for now I am redirecting my efforts to trigger my next major buy once it gets to the $17.60-17.82 range, and if it doesn't happen before March I will redirect and make subsequent medium-sized purchases in the meantime.
I'm extremely bullish for PMs in the next 5 years, but not so much in the next few months.. I am betting we get hammered once or twice more before a long term breakthrough and gradual bull-run.
No one can predict the exact timing of the markets, no one will be exactly bullseye (unless they're a crook), but I'm sticking to my gut on this one :P
I've been watching them hammer PMs for over 20 years. Over that time, I've just kept purchasing slow and steady. I purchased silver at $4 and I purchased silver at $50. I don't look for the dips, I just grab all that I can get with the funds I have in hand.
Your certainly right about never really predicting the bottoms, it is important to be more thoughtful and not jump into things. I've made a few silly purchases along the way.
Nice strategy! Now following
Do you know any good source to buy silver in europe?
goldsilver.be
Used them 15-20 times over the last 2-3 years.
Good plan buddy and a great post. When silver hits the moon, paying this and that for it will not happen. I have a system down were i buy ever 6-8 weeks and it evens out the cost per oz