Peter Schiff had some good quotes from his show last night:

"Stop being fearful of what you're buying. Be fearful of what you're holding on to (US dollars)."

"Don't worry about what seat you have in the lifeboat, if there's water spashing in your face, or if it's a bumpy ride. The important thing is that you get in that boat, before the boat that we're on sinks."

I think that last one sums up the relative unimportance of trying to time purchasing precious metals/equities, as opposed to just getting out of the US dollar before it collapses, which could come at any time.

Hysteria