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Beau
Penny Pincher Member
216 Posts |
 Posted - 06/24/2010 : 10:06:42
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is it time to buy or sell now?
I know everyone is saying hold on, but is the market toped out now, or will it go higher?
I read about the summer time dip but it seems to be no dip this year.
THANKS
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Kiwiman
Penny Pincher Member
225 Posts |
Posted - 06/24/2010 : 11:01:05
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/24/2010 : 11:56:14
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It depends....
Is this a trade for you? If so, do you have a good profit that you want to cash out? Then, it's a decision based on whether you have met your profit objective.
If you are building your core stash, I would say this is a good time to buy more. June-July timeframe is usually the low point for the year before the PMs build up steam into the fall months. BUY with CASH you have and only to the extent you can afford - never use someone else's money to buy your PMs.  |
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 06/24/2010 : 12:58:09
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quote:
Originally posted by Beau
is it time to buy or sell now?
I know everyone is saying hold on, but is the market toped out now, or will it go higher?
I read about the summer time dip but it seems to be no dip this year.
THANKS
Let me know if you want to sell. I'm buying |
goto the new and improved realcent: http://realcent.org |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 06/24/2010 : 14:50:58
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why did you buy precious metals in the first place? Was it as insurance to maintain your purchasing power as the dollar depreciates? To attempt a quick profit? The value of precious metals will inexorably grind upward over the coming years as the dollar drops (which most assuredly it will) but it won't be a straight path. There will be pullbacks that make you doubt the wisdom of having held, and there will be advances that make you regret you hadn't accumulated more during dips. I would never liquidate my entire position, but if you want to try and time the market, then designate a small portion of your holdings, maybe 20% at most, and sell, with the objective being not to go and spend your winnings, but to wait for a subsequent deeper pullback so that you can buy more ounces than you started with. The danger of this strategy is that you might be sitting in cash, waiting for a dip that never comes. If that happens, you will kick yourself for having wasted the 20% of your holdings, that you were sure were going to some day skyrocket (had you been patient enough) to obtain a quick profit and rue what you could have had had you not been fickle. And with the growing scarcity of silver, at least, there is no guarantee that you'll be able to replace what you sold down the road. Finally, it is NOT about precious metals going up, it is about all worldwide fiat currencies going down.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
Edited by - beauanderos on 06/24/2010 14:52:13 |
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battlecat
Penny Pincher Member
152 Posts |
Posted - 06/24/2010 : 16:01:54
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+1 beauanderos
Well written! |
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Beau
Penny Pincher Member
216 Posts |
Posted - 06/25/2010 : 02:58:32
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I think I will hold.
I don`t need the money, but I thought silver may have topped out, but it is still higher today.
I don`t know how high silver will go.
I have been collecting since I was 5 years old, now 62.
I sold one coin that was a mistake, I saw it in Coin world for $595.
I called to buy it back but it was sold.
then it sold at auction for $136,500.
I was sick.
Market Harmony:
THANKS
if I sell later it will be on this site. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 06/26/2010 : 15:54:05
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| Like others said, to sell or not partly depends on what your reasons or investment goals are for holding silver in the first place. I don't see anything wrong in taking profits if you are selling the silver you bought for that reason alone. Has silver prices peaked? Who knows?, but no one has gone broke making a profit. |
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Think positive. |
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vrbsroma
Penny Collector Member
394 Posts |
Posted - 06/26/2010 : 16:03:47
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quote:
Originally posted by beauanderos
why did you buy precious metals in the first place? Was it as insurance to maintain your purchasing power as the dollar depreciates? To attempt a quick profit? The value of precious metals will inexorably grind upward over the coming years as the dollar drops (which most assuredly it will) but it won't be a straight path. There will be pullbacks that make you doubt the wisdom of having held, and there will be advances that make you regret you hadn't accumulated more during dips. I would never liquidate my entire position, but if you want to try and time the market, then designate a small portion of your holdings, maybe 20% at most, and sell, with the objective being not to go and spend your winnings, but to wait for a subsequent deeper pullback so that you can buy more ounces than you started with. The danger of this strategy is that you might be sitting in cash, waiting for a dip that never comes. If that happens, you will kick yourself for having wasted the 20% of your holdings, that you were sure were going to some day skyrocket (had you been patient enough) to obtain a quick profit and rue what you could have had had you not been fickle. And with the growing scarcity of silver, at least, there is no guarantee that you'll be able to replace what you sold down the road. Finally, it is NOT about precious metals going up, it is about all worldwide fiat currencies going down.
Well put, but my opinion is to just keep buying when you hve "extra" cash after expenses and some savings are accounted for. You can't time the markets. |
As far as I know, it is stated "In God We Trust" on the US dollar. How can I trust this currency if I do not believe in God?
Possession is nine-tenths of the law.
When I give my two cents, they're always copper! |
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sell ?
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