The Trend is Your Friend, and will save you from horrible timing and market chasing during a major bull market- provided you hold your position through the completion of the bull.
This is the best advice as any for those who recently purchased physical gold or silver for the first time, and now see their investments temporarily underwater (perhaps significantly with silver.
Those who bought silver at the short term top in early 2008 paid $21/oz, and saw silver plummet to $8 an oz several months later. Fast forward 3 years however, and the investment is still up over 50%, even if bought at the very top in 2008 and compared with today's extreme sell-off correction.
The same will be true for those who recently purchased silver for near $50/oz and gold above $1900/oz by 2014/2015.
People like to make comparisons to 2008. Well, let’s say you were bullish on gold and silver in 2008 or you had just gotten bullish in 2008 and you bought gold at its high, the worst possible point in 2008, you would have paid roughly $1,000. Today gold is trading at $1,650, so you are up a remarkable 65% today, even though you would have bought the previous high.
Let’s say you bought silver at the high of 2008, you would have paid $21. Even though silver has fallen from $50, it trades at $32 today, so you still have a 52.5% profit, even if you would have purchased the previous high. That’s what bull markets are really about.