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Al, I’m still way bullish on Gold long term.
The on going dog ‘n pony show going on in congress is beyond embarrassing. What very few seems willing to acknowledge is the USA is butt-ass broke—totally insolvent. Have every reason to believe that gift we are about to receive is not a raising of the debt ceiling–but the elimination of it entirely.
Then add this– “The Affordable Care Act’s individual mandate means that it is each individual’s responsibility to obtain health insurance and if they do not or go without it for three months can be charged a penalty by the government.” (Where was Justice Roberts when the nation needed him?)
So in the mean time, while we wait for a good chunk of the population to not comply because they are as butt-ass broke as the government the working stiff will be paying for this bs and have very little to invest in gold, silver and shares (or anything else.)…..I’m expecting at least one more fairly substantial plunge in PM prices and hope to carefully pick up more Phyzz as I learn just how raped I’m going to get in January….
“butt-ass broke” is certainly telling it like it is!
I don’t get it Gary. You are not going to do anything until gold gets to 1417 and then you would start buying. Then what Gary??? It get to 1420 you buy it and in a few weeks it drop backs down to 1320. Then you sell it in the 1300’s somewhere and wait for it to go back up to 1417 till you buy it again? Then it drops back down in the 1300’s and then you sell it again? Then repeat that till you lose so much money the only way you can make up all you lost is to charge advice to those that want to know when to buy and sell?
I’m sure people make a living trying to figure out when to buy but that’s not for me.
I’m in this for the long term and in my opinion gold may not do anything for the next 2-3 years or even longer before it makes a big move up again. This may be the time to just accumulate and hold if you can afford to.
1417 to 1434 would be good time to take profits as gold would head down again.
Gary is discussing trading issues. Not buy and hold strategy’s in this interview. James Turk has a new KWN interview today where he says gold is heading into the stratesphere any day now. I have been waiting for 2 years so far and no cigar.
Glen, Turk did not say any day now. He said gold and silver would take off when the cup and handle pattern completes and silver goes above $50. Turk also said: “I also like these long-term charts because they will help us avoid being distracted by any upcoming volatility as the US government tries to sort out its financial problems.” KWN’s Title is misleading and deserves criticism but Turk said nothing irresponsible or foolish in my opinion.
I would have to say foolish on his pary.
Turk’s or King’s?
On the part of James. I have never heatd him say something like that.
As I was trying to say above, James didn’t say anything radical. He just said that the metals would fly AFTER silver got above $50. He did not say when that would happen. Eric King used a deceptive title for that interview.
Did he really?
I have not heard that from him before. Really not like him.
It really is, when I use to check it edyveray I started becoming obsessed with it and almost greedy. Which isn’t good at all. I’ve been thinking about storing my PM’s in a safe place for about a year, buying a econoline quitting my job and moving away from my apartment. Just trying to get more in tune with the beauty nature hasï»¿ to offer.