What Happens To Gold And Silver Next? Look Out Below?

@Yup,

I just ordered the Livermore's book and look forward to trying to read it. I'm not a strong reader, so I hope there are lot's of pictures.

GORO on new 52 week high today, and, responded well to earning report. UP 85% in 60 days ain't too shabby!(I think most top tier gold stocks are probably close to 40-70% up in 60 days). Bought in, just a small amount..I know I'm a bit "late", but, not worried...GORO has virtually NO debt, a huge plus in any business.

@zack

thanks for your kind words, and everyone else.

Look, the bottom like when anyone has money in markets, the only thing you can trust is PRICE. So studying price becomes important and can save one a lot of grief.

After price, the other important element to putting money into markets is to always keep in mind a trade or invest can, for whatever reason, can go wrong. I would be a complete bald faced liar if I said everything I do, every single trade is 100% right. The fact is, as I have been saying, even when I follow my system, my true and tested rules and am profitable, there are times where for whatever reason, the trade just didnt work out.

In those cases, I ALWAYS trust my stop. So again, always, always trust price. It it truth. Then after price, trust your stop, your exit plan. If something is not working and the exit strategy kicks in, take it, learn to trust your stop, it will protect you and let you live to fight another day.

How far this trend goes, I do not know. Experience tells me that it could go one for much longer than thought possible. Experience also tells me it could have some bumps or different phases in between. How I will approach determining if silver and gold remain buys is watching price. My only true guide....

@ilikeikes
Thanks for the link, read all the way down to Iron, and not interested in iron so stopped there. Some very educational stuff that I didn't know and didn't understand before reading. A lot to learn about trading.
On another note, OUCH!! Feeling the pinch today. Yup said this was coming. Saw a drop day before yesterday, then miners back up yesterday and I thought "Wasn't THAT bad" LOL. Then comes today. Hangin tough here. Not worried. Just keep repeating to myself 'Dips are good' Good time to buy, if CS would release my funds to trade with. Check cleared my bank DAYS ago. Gotta go to electronic transfers. BUT, I'd have bought day before yesterday if it was available for trading. Maybe Monday

Glad I moved some resources to the sideline. However, it is difficult to know when to jump back in.

@Yup,

I'm thinking the same thing in terms of not only buying, but potentially moving some additional off the table -- only because my miners are holding today. I can get some off the table - almost for free and wait for a better entry point.

@montanacmr

why would I sell? I guess my question to you would be: what good reason, if I am sitting on profits, is there to sell? I mean really, ask yourself, if you have profits, and you have been seeing this make yearly highs, why on earth would you sell next week?

Now dont get me wrong, I am not trying to put you down or make you feel bad but why on earth would you want to sell, especially based on what happens next week?


This is my answer to you: MontanaCMR, so long as the asset is acting right and following the direction of the trend, you do nothing until you have concrete solid proof, given to us via PRICE, that the trend has changed.

Remember, you CANNOT PREDICT anything in markets. What happens next week no one knows, to try and make a decision based on unknowns is a great way to set yourself up for failure in markets.