Uh, Yes I Did Buy Gold Last Week...

[DoChenRollingBearing]

I should start a subscription service, you pay me, and I will tell you 24 hours before I buy my gold so you can take the other side of the trade... My guess is that some 75% of the time I buy, the price has a nice big drop.

Ah well. At least over time I am happy, even if I "overpaid" $20.00 / oz (and counting) this time.

I am kind of surprised that DCFusor and swissaustrian have not taken me up on this...

:judge:

 

[oppie2005]

well, if it makes you feel any better, i bought silver before in the middle of it dropping. so for the amount that i purchased, i could have gotten quite a few more oz if i had waited lol

 

[rblong2us]

hey
i went all in with major purchases of gold and silver in sept '11 and am still waiting to get 'even' on those purchases. i panicked into doing this as the chart looked like it was going up a gear and i was going to be 'left at the station' .........

There has to be a pattern of confidence building creating overbought, so expect a setback after purchasing unless you are so fooking cool you can buy when it 'feels wrong' to do it.

 

[bushi]

well that's what I think technical analysis is based on - all these fluctuations of charts are based on underlying herd mentality and "hive mind" of the bulk of the market participants. After all, nothing else can produce somehow-reliable patterns like that, across all the sectors.

BTW, I was myself on the verge of buying a considerable bulk in recent weeks (but that's another reason for it - I've received a bulk of cash), only stopped short from doing this just then after asking & getting some good advice here on PMBug - thank you guys!