I agree with ein55's comments, especially those I highlighted in Blue below.
Many people don't understand that becos I'm an investor, or more aptly called a Market Cycle Investor, that I don't really bother about short term (daily/weekly market movements). Why? The reason is through my 18 years of investing experience and observation I came to the ENLIGHTENMENT that MOST of the Profits come from identifying Major Change in Market Trends, which happens only once in a few years.
So I'm really not interested in daily or weekly fluctuations in prices, and I don't think anyone can consistently "predict" such short term movements. (P.S. which is why I think watching all these analyts analyse what happened to stock market yesterday on TV is a TOTAL Waste of Time) However, Major Market Trends, such as an Uptrend or Downtrend, can be estimated or PREDICTED quite accurately, and I have to say that by doing so, was how I amassed Millions in Investing, not through TRADING short term (whether daily or weekly) market movements.
Cheers!
Dennis Ng
ein55 wrote:My view is regardless buying fundamentally strong stocks or buying silver/gold, if possible, buy during correction (esp when the downward trend is so clear, you have a choice), unless the trend is moving upward, where you could buy high and go higher (that's what happened in the past 2 weeks, several unexpected surprises caused the dip)
Of course, if someone is really looking long term (a few years from now), any buying price now within +/-10% will not make too much diff for either stock or silver/gold, as the future potential gain will be more than 50-100%. I guess this is the same concept as buying landed property now, although market cycle can affect its price within next few years, its true mega trend (life time) is always up, the peak of last market cycle could be the valley of its next market cycle, we don't have to be afraid.
For silver/gold/stocks, its lifetime mega trend may not be as clear as land, although I agree that most things on earth will get less and become more expensive or more valuable, but really needs a lot of patience.
I read a story about an old American who invested in stocks for over 60+ years from 20+ to 80+, throughout his lifetime, he just buys fundamentally good stocks (sounds like Warren Buffett) as if monthly saving. Regardless of market cycle, his total life saving at 80+ years old has outperformed most investment options.