RE:RE:OuchhhhhMy view is that you should almost always wait and buy it on the way back up. That said, I can almost never do that. I'm always reaching for the falling knife, or at least reaching too soon.
Looking at silver at $16 and gold at $1130, it seems that SLW should be trading at about the same price as when we were last at these gold and silver levels. Mid-February is the closest approximation, so $21/sh or so. Howver cut silver one or two more times like it got cut today and SLW might be back to the $15-$16 level again. Yikes! And what an opportunity that would be!
Trying to be patient, and definitely interested. Show me a bottom turn in a week or a month and I'll be a buyer for sure.
zentrarianNZ wrote: gheet...I got burnt by not waiting a little longer, too, but my view is that you can buy on the way down, or wait and buy it on the way back up. But you aren't going to time either the top or the bottom perfectly, so why not just buy when the price is right? SLW is clearly getting oversold here.
That said, I'm still holding plenty of dry powder for the Mother of all Smack-downs (MOAS) - and, so far anyway, this ain't it.