Thursday, August 4, 2011
The Doc's Reply to All the Haters
The haters have come out of the woodwork today emailing and asking why silver is down, stating that $50 silver will never been seen again (one even said we'll never see low $40's again) and blaming us for their paper losses.
We'll make our response here short and sweet.
What has changed today? Nothing has changed.
Major Bull markets end after the crowd mentality finally takes hold, the general public rushes in, and there is simply no-one left to buy.
Major Bull markets end in EXHAUSTION after a huge price spike.
Silver is currently owned by less than 1% of the population.
The general public does not know what silver is, much less even considered investing/saving in it.
Silver has not yet even matched its nominal 1980's high of $50.31, much less its inflation adjusted high of $250-$300.
Please stop emailing us that you have made a horrible decision by purchasing silver and that silver has topped forever until you have had at least 3 people at the gym or the office cooler recommend silver to you in the past week.
Until then, use the dips to accumulate physical.
In 2-3 years the current sell-off will be looked back upon like the drop from $21 to $8 in 2008 is looked back upon today.
Avoid using margin, as day's like today can put you out of business.
We purchased physical silver personally today at the height of the sell-off.
If silver drops to $35 tomorrow we plan on buying again.
If silver drops to $25 we will buy more.
If you can't take silver's volatility, invest in a gun and ammo.
Pro's look at gold and silver from a long term perspective, then respond accordingly to day by day market actions.
Sheeple look at gold and silver from the perspective of a 30 second chart.
This is like looking at a house with your face smashed up against the siding.
Please step back and view your house (silver and gold) from the perspective of the sidewalk or street.
It will look much better.
Nothing has changed.
A market panic will usher in QE3 faster than you can say The Bernank.
Posted by The Doc at 7:11 PM