What’s With The Silver Pullback?

“I believe that an investor who takes a position early and hangs on for the ride has a far greater chance of reaping huge rewards than a trader who is trying to buy the dips and sell on the peaks because inevitably there will come a day when you sell on what you perceive to be a peak. But then the peak turns out not to be a peak at all, just a slight plateau, and the price takes off again as you wait for the next pullback. By the time the peak finally comes, the profits that you didn’t make due to cashing out early cancel out all the profits you gained by not riding through the downturns…and then some. The result is that you will have magnified the amount of time and effort expended, only to reduce your potential return.” – Michael Maloney ‘Guide To Investing In Gold & Silver’