Tuesday, October 18, 2011

Time to KISS Silver

Keep it Simple, Stupid.  This means silver is a BUY at or near $30.  IF we get a greater sell-off, RESPOND by increasing the size of your buy orders.  Period. 
For those concerned about the sell-off in gold and silver this morning, please realize that the CFTC is currently meeting to vote on position limits- this is how the cartel rolls!  Time to stop whining, and start taking advantage of cartel manipulation in gold and silver!
For those still concerned, Stewart Thomson has some excellent advice:

The bottom line is that silver is a buy at $31. What’s the price now? The answer is that the price is about $31. So, what is your reaction? Your reaction must be to buy in the $31 area.

The next buy area for silver is approx. $22.50. Don’t rip open 20 crackerjack boxes to see if price is going there or not. Walk over to your risk capital allocator, and prepare now to take action, if it happens.
Stop selling gold, silver, and metals stock for dollars because, “they might fall down”.
Hold your ground and learn that a drawdown is a drawdown. It’s not an axe murderer at your house threatening your family. You don’t need to run out of your house screaming, “we’re all going to die if $1530 breaks on gold!”, when Mr. Drawdown comes for dinner. He’s there for a little food, wine, conversation, and to offer you some gold on sale. He’s not there to murder your family. The man knocks at your door to offer you gold and silver on sale, and you think he’s an axe murderer? Does that make any sense? In India, he gets the red carpet treatment. In America, he gets lynched. Let’s roll out the red carpet for every gold sale, not just the ones predicted by the ultra-leveraged flip traders. (Clive Maund, anyone?) Gold is not burning today. It’s on sale.
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