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I expect gold and silver to continue to correct until toward the end of next week. We could get a mild up day tomorrow, but it will take a week for this correction to run its course.

Note that I posted that warning before the price fell in Asia.

I happen to agree with you that this is a very good time to invest in silver and/or gold. But I would wait another week to do it.

I am in agreement with your entire post. And yes you did make the perfect call on Asia. Superb!
What I might add here is that what I learned from my years in the coin/ precious metals business - that in days like yesterday and today...there will be these type days and among coin dealers, we called these dips-shake outs! There is a very large percentage of people/investors -who invest in silver and gold -who get their logic backwards and they get panicky and, using the past twenty-four hours as an example -they sell off all their holdings thinking that these metals will fall and continue falling endlessly. Hence we referred to these folks as 'shakeouts.'

The numismatic business/coin business/metals is a business! We (I) profited in a very large way on these type days where shakeouts occured. It's business!

Unfortunately I didn't use my best logic myself when I confirmed that last batch of 500 ounces, but it's no big deal because I can just hold for now and also if silver does happen to make it down to $11.00 - I'll buy another 500 ounces to help offset my 500 oz purchase at $14.75.

(and as I have stated in the earlier posts in this thread, I have many thousands of ounces at $8.50 and $11.68 -so I've spread out my buys)

I hope all of our conservative FReepers here will benefit/profit from what we are all discussing here. Especially in these interesting times. / Bttt