It appears we were a little early back in on the buy side of silver, but today just gives us an opportunity to increase our purchases! The sell-off in silver continued today, as silver has dropped lower throughout Tuesday's session, and is now trading at levels below Sunday night's electronic session smackdown low near $42.20. Sunday night's low held through the first attempt, as silver has moved back up off of $42.33 up into the $42.50's, but a subsequent wave of selling pushed silver all the way down to $41.28, smack in the middle of the $40-$42 congestion zone. The hedgies appear to have flipped, and are now selling the rallies, rather than buying the dips.
Silver appears like it wants to test $40, and likely will do so in the next few days, but dips of this magnitude MUST BE BOUGHT. Act professionally, and accumulate on weakness. NOW is the time to buy silver! If silver continues to sell off to $40, buy more. Your buy purchases should be incrementally larger as price goes lower. The silver community suddenly is full of fear about silver prices. This is irrational both from a long term and short term perspective. From a long term prospective, this volatility is meaningless. Silver is headed MUCH HIGHER long term. From a short term perspective, what is there to fear now that silver has had an $8 correction? The time to have some healthy fear was at $49.50. The lower silver drops, the more confidence you should have placing your buy orders!
Take today as a continued gift, and BTFD!
