Friday, October 17, 2008

Times Change in Silver and Stocks

Have you ever come under attack because you stated an opinion? I did, and the ones perpetuating the attacks even went so far as to contact sites that published my opinions and asked them to remove the posts. These were articles and blogs I’d written advising it was time to sell your silver. At that time, the price was around $16, and I also stated that you’d be able to buy silver back at $6-$8. You see, these bastions of knowledge demanding the removal of my posts were the ones pushing silver to investors with claims of it reaching $50. Pushing the silver they had purchased around $3. I hope you wrap your mind around that.

In my opinion, this is the most dishonest practice I can think of. If they’d taken their own advice, they would all be broke. Instead, they’re licking their chops over the large sums of money they just made selling you their $3 inventory at inflated prices, and now they’re waiting to buy that same inventory back from you when the price tanks and people sell off at $5. Then, they will tell you it’s the time to buy again, as they artificially run the price up and later, dump it on you again. And the wheels on the bus go ‘round and ‘round.

I do think the time to buy silver may be approaching, but even if you do begin to buy, don’t fill your bank all at one time or at one price. If the price of silver drops to $6, buy a little, and if it drops, add a little more. This way your average cost will always set you in good stead when the market rallies again. And, it will. Remember, there is always a time to buy and a time to sell. But don’t be lead by unscrupulous people looking to take advantage of you.

By the time someone comes on TV or on the radio telling you to buy gold or silver right now, change to another station. As the price of these metals decline, these ads will disappear from the airways, because they can no longer take advantage of you by creating fear.

If you’re not a member of 31 Club, and you’re wondering what this has to do with making money trading in antiques, collectibles, and fine art, all I can tell you is that members of the 31 Club know that we’re more than just an antique, collectible & fine business club. We’re a family. As a family, family members are encouraged to come to us about anything that’s happening in their life, from personal struggles, to financial matters, or even if they need prayer for something going on in their life. As a side note to this, I am advising members to start taking positions in the stock market now. Don’t buy too much, but do begin to reinvest, if you liquidated your stock during this drop in the market. We might not be at the very bottom, but no one can pick that, so start slow and continue to add to your portfolio over the next few months.

I am waiting to hear from those who gave out the wrong information about the direction of silver values. Call me whatever names you like. I won’t stop opining.

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