A Wise man....I once overheard a very wise man deliver some sage advise to his son and I think it is apropriate to relate that advise to the BB.
The advise is simple.... Never try to catch a falling knife. Over and over again I read on the PM BBs about buying on these lows, with trading money to make an additional gain, and I say to you, why in the world would you ever buy a stock when it is going down?
Wait until it turns the corner and starts heading up! If it's a trading position I want in on, I'll look for a 10% plus reversal across the liquid portion of a market sector and THEN I'll buy my picks, which are stocks that have suffered more than their share in a correction.
The mistake we've all made at some point or other is thinking we've bought into the low, only to see it go down lower then next hour, the next day, the next week, so my practice is to wait until it turns the corner.
For those however that are into gambling with their family's future, better bet the wad on a few precious metal juniors that havent poured a single ounce of silver or gold and hope for the best.
All this from a self proclaimed silver (and gold) bug! But it concerns me that some investors will read the wildly bullish outlook on these boards and start taking risks they cannot afford.
For those who prefer a sports analogy, you dont need to hit a home run every time you step up to the plate. A bunch of singles, a few doubles and a triple or two will get the team further than the odd home run will.
Good luck to all
