Woohoo?

[superhero]

Got into PMs just a few months ago, UNFORTUNATELY. So far I've made 3 medium-sized purchases.

If using APMEX's buy-back price of the items I own, I'm close to break-even - just need gold increase ~$1.50/oz.

I have mixed feelings on this. On one hand, it's nice knowing my investment is almost close to being in the black. On the other hand, I still need to buy 2-3 times more to get to my target of ~5% of my portfolio in PMs.

Buying any more would increase my DCA. I knew this day might come, but didn't think it'd be so soon. It's a psychological hump. How'd you get over it?

 

[DCFusor]

Yeah, it's a problem. You just have to have faith that the debt ceiling will rise (it's more correlated to PM prices than any other indicator). Knowing how disfunctional our governments are, it seems a pretty safe bet. This game is medium scary to be sure, but you mainly have to think in years, not days. This is especially true of physs, as there's a vig on both sides of the trade that is far worse than what I pay to trade stocks.

I'd bet there will be a dip or few along the way that might improve your average - history tells us so. It is interesting that my indicators are yelling buy for the first time in quite awhile. Gold has been managing to bounce off its 50 SMA to the upside every time it hits it for awhile now. And, that moving average is finally tilting up again.



It's a lot safer than NFLX or FB, or even AAPL, obviously.

 

[Unobtanium]

“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912

 

[superhero]

Found a way to temporarily get over my hump... if I buy now, it's still cheaper than my first purchase on 2012-06-06 <-- the ONLY DAY in the past 3 months where silver was over $29/oz.

Now if silver goes over $29.20, I'll need to get over that hump.

 

[rblong2us]

got to stop thinking in dollar terms and think in ounces

an ounce of geld a month will keep you and your family, no matter what happens

and that includes the can getting kicked for a very long time ......

I still check the US$, or in my case GB£ price most days but have learned that short term chart movements must be ignored, in both directions :flail:

unless theres a big movement to the upside, then its plan 'b'
everybodys favourite plan ...... sell at the peak :rotflmbo:

 

[dali lambone]

Keep in mind that triple digit silver is a no brainier dude. This stuff will never be free, and the value of your dollars is probably decreasing faster than metal is increasing. That's how I put my mind at ease.

Edit:finally hit the hundred post mark. I didn't think I'd ever reach it...

 

[rblong2us]

and im approaching the 666 post

 

[benjamen]

Got into PMs just a few months ago, UNFORTUNATELY. So far I've made 3 medium-sized purchases.

If using APMEX's buy-back price of the items I own, I'm close to break-even - just need gold increase ~$1.50/oz.

I have mixed feelings on this. On one hand, it's nice knowing my investment is almost close to being in the black. On the other hand, I still need to buy 2-3 times more to get to my target of ~5% of my portfolio in PMs.

Buying any more would increase my DCA. I knew this day might come, but didn't think it'd be so soon. It's a psychological hump. How'd you get over it?

That is the double edged sword of commodity investing. If prices go up, you like that fact that your current holdings are nominally worth more, but now it costs more for the next purchase. On the other side, you don't like it when the price goes down and lowers the fiat price of your holdings, but it does make it cheaper to make the next buy.

Like rblong2us was talking about, you should think in terms of ounces of metal instead of USD. I have a specific number of ounces as my goal, not a fiat dollar amount.

 

[pmbug]

...
It's a psychological hump. How'd you get over it?

With a longer term horizon, you don't see any humps.

For me, metals are not "get rich quick" vehicles. I know they will one day trade at a market value not shackled by paper games and re-hypothecation claims. That day may be many years off, so I'm not sweating the daily movements in a spreadsheet.

As DCF has stated many times, it's the difference between trading and saving.