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Silver got me again, see on the 24 hour chart this morning, silver is down about 30 cents, so the weak longs will get washed out! Still am a beleiver long term 3-8 years. Don't know your age but Jerome Smith wrote two books on silver; the first was called silver profits in the seventies, and the second was called silver profits in the eighties, the first had an impact on the Hunt's to start to move into silver. I reread the second book over the holidays, Smith is off at least 15 years imo, but it is interesting in his preface he stated that silver may trade at prices above those of gold in our lifetime! Imo this will never happen, it is just to give you an example of how emotional the pricious metals markets can be, my advise: buy for cash = no margin, take physical delivery, and forget about it, don't put in so much money that you cannot sleep but enough to be happy if silver makes it back to 10-12 FRN's as I project. |
