RE:RE:RE:RE:Not everything is goldendarthsidious666 wrote: I figured, i thought they were overbought too. Good time to buy on the dip for longs.
I copied and pasted below a post I made on August 3rd on another board.
The move for precious metals moving higher is soon coming to an end. So with minimal upside, this is where I come up with the thesis the next big move will be to the downside. But, it won't be a waterfall type move, it will be slow and methodical. This will get more people buying dips until they have no more capital to buy. This whole process could take a year to a year and a half to unfold. Remember in 2008 when all the banks were close to going under, where was gold and silver? It went down too. Only a few laters did it shine(sorry for the pun). For the mother of all gold and silver bull markets, the masses have to sell most of their precious metals at the bottom. $1000 gold and $13 silver was not the bottom. I am looking at $700-$800 gold and $7-$8 silver. That will bring the gold/silver ratio to about 100. Everyone is screaming to buy gold right now, so I always have contrarian views myself, so now is the time to sell.
So buying and holding on the dips will destroy the longs capital. There will be lots of dips on the way down, but will preserve capital by only trading the dips.