by Market Harmony » Sun Sep 26, 2010 8:05 pm
I'm with you, beauanderos. We might see some pullbacks along the way higher, but this kind of bull market (price discovery) can shake some people out of their positions way too early, scare many away from "being the last buyer" (and never getting involved), and have speculators shaking their heads and asking themselves why they could not see what was happening when it was. Well, the thing is, is that IT is happening NOW. This is just the beginning of price discovery for PM's.
I get so frustrated with folks who say that they are waiting for a pullback to certain price levels that are well below current prices. Those kind of big jerky pullbacks just doesn't happen during a bull run. They happen at the TOP, when the last buyer throws his hands in the air and says that he can't win by trying to time the market, so he just buys at any price just to be in the game... Then the supply comes in and the price drops FAST... this sucks in the speculators trying to time a quick profit, or time a short term bottom. This is usually when a trade turns into an investment. These speculators will get burned if they don't time it right, or stay in too long.
Investors that just buy a little here and there, accumulating a position over time, are the smart players. They will win the game. They are buying right now.
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