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Posted 11/04/2012 11:34 am
All right, I'm starting to get antsy/psyched about next week. I did go ahead and purchase a 100-ounce bar of silver at the end of day Friday at $30.91/ounce. I figure that prices will either rebound sharply on Monday, which will make me feel good about my purchase, or continue their downward slide, which will let me justify additional purchases. Either way, it's a win!
The difference between this time and past purchases is that this time I set an absolute ceiling of $30/ounce before making any major purchases. [Relatively speaking, of course. I know that what I currently consider a "minor" purchase is still "major" to many people.] Before, I tended to make major purchases whenever I felt the price had bottomed out and was heading back up, and in each case the price would then nosedive immediately thereafter:
This time, though, I resisted the urge to make a major purchase even after seeing silver start to claw its way up from $31.60 (or however low it got on Friday). I purchased just enough to feel good if the price goes up, but not so much that I'll kick myself if it drops further.
The difference between this time and past purchases is that this time I set an absolute ceiling of $30/ounce before making any major purchases. [Relatively speaking, of course. I know that what I currently consider a "minor" purchase is still "major" to many people.] Before, I tended to make major purchases whenever I felt the price had bottomed out and was heading back up, and in each case the price would then nosedive immediately thereafter:
This time, though, I resisted the urge to make a major purchase even after seeing silver start to claw its way up from $31.60 (or however low it got on Friday). I purchased just enough to feel good if the price goes up, but not so much that I'll kick myself if it drops further.
