by Avi Gilburt, GoldSeek:
When the market made it clear three years ago that much lower levels were going to be seen, as the bottoming set up we were tracking was invalidated in June of 2012, I put out the lower targets we have had on our metals charts for the last three years. And, during those last few years, many of you have questioned me about us being able to strike those targets, as they seemed too unbelievable to most. In fact, I have been warned by many market participants, as well as other analysts, that if I wait for my targets, I will likely miss the next bull market. Well, I don’t think we have missed much, and, in fact, have done quite well with our short side trades.
With the markets now dropping towards our long term buying zones, the most common question I am asked is “do we buy now?” And, much of the answer depends on your risk tolerance perspective. But, for those that are not trying to perfectly time the market, the answer is “yes,” if you already do not have initial positions in this market. But, if you do, please do keep in mind that the “potential” still exists that silver can see the as low as the $10 region (ideal target has been 12.75), whereas GLD can still drop as low as the 75 region (ideal target has been 98) in an overemotional capitulation event, which I have warned about for quite some time.
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