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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 05/24/2007 : 19:39:14
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I decided to take a look at the historical prices of silver courtesy of kitco.com.
From January 2005 to present, silver prices have been jumping up and down. I had hoped the recent decline in silver prices were a seasonal thing, with the price declining only in the late spring/early summer months, though it doesn't look like it.
$2-$3 drops have happened in some prior months, though the reason for the price declines is not given/listed with the charts. This is one reason why charts are a useful (but not only) tool for investing. Finding out what caused the price declines, (supposedly strengthing dollar, decline in use in photographics, investors selling large holdings, rumors of a big silver strike, etc.) is needed to determine when to buy and when to hold off buying until prices become more affordable.
There is a saying in the stock market,
"Sell in May
and walk away"
to lock in profits, though buying after May might be a good idea since most have sold, taken their profits and the prices have become depressed. Remember though, declines in prices do happen, so don't get discouraged as prices bounce all over the place.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly.
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