Maybe it is time to jump in, but caution never hurts in the long run!
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I have a lot of respect for you Matthew. I am not saying that you are incorrect, I simply feel that for me personally there still is a bit of wait and see time left.
What the heck man, you have been pretty accurate in the past.
Al, I won’t hold it against you if you ARE saying I’m incorrect. I just might be!
To be perfectly clear, I think that you could very well be correct in the slightly longer term. I simply question the shorter term.
AL ! You catch a communistice disease ! Careful eat same Silver !
We are going to continue to climb this wall of worry while the cautious sit on there hands.
I already am loaded up on GDXJ
My only concern is the Swiss Vote, where there literally may be blood in the streets.
Today’s Philly Fed was a shocker.
Somebody’s lying big time.
I have been negative on gold for most of 2014 and rightly so.
That doesn’t mean I sold or went short.
Just told it like it is.
When gold hit 1212.80 in early September, based on price, duration, sentiment and velocity I called a bottom.
Yes I colud have waited and been more cautious but I felt it was a god entry point.
We are now within spitting distance of that call again.
Like I’ve told everyone who asked me these last 15 years when they were considering buying gold…
Don’t wait to buy gold, buy gold and wait
David McAlvany’s point all along James.
That is a good point, James.
Some of our time frames are just a bit different.
In the long run we probably all will do really well! Maybe some just better than others. Remember that a profit is a profit!
1300 will look cheap…when gold gets to $5000
$600 looked crazy when gold was $35……………………….
I agree a wonderful thinking way ! NICE J,,,,THE LONG,,,,,,,,OOTB !
Thanks….franky…………………………….j……………OOTB.
Good point J. In addition, few seem to stop and think about the fact that even after gold collapsed in 1980, it was still well over ten times its bull market starting price for most of the 20 year bear market. At the very bottom (Brown’s bottom), it was still up 7 fold!
THANKS……….and that is an excellent point…………………….!
Kind of my point, Matthew!
Okay “Imitator Owl”, of course you are absolutely correct in those cases.
From,
The ORIGINAL AND ABSOLUTELY GREATEST OWL COINLAND
Al you don’t believe in trading for yourself as it takes you out of your comfort zone and you don’t understand technicals well…but you also know Rick has 10-12 000 subscribers who he makes a lot of $ for (being one of them I can attest to that) have you ever considered putting 10-100k in rick’s hands and having him trade for you? I’m about to do that with Tim Sykes of “profit trading room” on facebook because I can’t day trade…I work during the day….he turned 12k into over 4 mil in the past 15 years and made 19% profit just in October….You need not reply if you don’t want to, just food for thought.
Interesting thought, Proud.
Hello all,
When I hear all the current discussion about is this it ? Is this rally a counter-trend etc??? I just thought about something from Rick Rule that makes in current conditions:
“You cannot have great prices and comfort. You have to choose one.”
That’s exactly what investing is all about.
Let’s assume this rally continues on gold, PM stocks will be even higher… Some people will come back as they will have the “comfort” again. But the great bargains were 30, 40, 50% below what they will end up buying at, just a few days or weeks back.
Best to all,
LPG
In my previous comment, one sentence should have read:
“from Rick Rule that makes 100% sense in current conditions:”
Apologies for the mistake.
LPG
And my point here was not to say “buy now buy now buy now”.
It’s just to say that when things are REALLY ugly and one wants the least to buy is where it typically is the most rewarding.
Just making sure my comments are not misinterpreted. 🙂
Best to all,
LPG
Trust me I will be in before stocks go up that much LPG!
Hello Al,
PLENTY of PM stocks are ALREADY up 30,40,50% over the past 2 weeks.
Best,
LPG
Running Correction in silver…………….silver to $250……per KWN……….today.
If silver goes to $250, there’s definitely gonna be a few extra millionaires among us !!!
I just hope we don’t have to wait 50 years for that 🙂
LPG
One thing is for sure…………..SILVER IS CHEAP AT $16………..
I assume that we can hold on to our silver.
I think we need 10 years to reach it. In 50 years, fiat will have 5 zero added to the number, to the right side.
CHECK OUT THE ROI…..in 10 years……….if you buy now at $16 and it goes to $250, …How many times has you money DOUBLED in 10 years…………
you….to your
And with their track record, what do you think Jerry?
I think silver is cheap……..and going higher……….
J….OOTB, International energy Agency estimates 2017 future demand for silver to run at 50% going into photovoltaic appliances alone.
TIME FOR A ……..PHOTO OPP………….
Not sure how much but I know China and India is very ambitious on solar. China is especially speeding on implementing production in mass scale. I am always shocked how fast thing moves along there.
Silver Wheaton to lead the charge LPG.
I think Silver Wheaton is a winner in the long run……..Anything with SILVER in the name will go out of sight when the general public jumps on board,,,,they will be buying anything and everything with a name with Silver in it…………….the Mania stage is to come…
Hello Rev,
Personally, I sold my position in that company after I learned they were joining the WGC.
I love the royalty business model, but that they joined the WGC was something I din’t like AT ALL.
A few interesting silver miners out there, the one I like most is FSM – w. low AISC of about $15/oz and still FCF positive in the current environment (last quarterly results were out a few days ago). I added in the mid 3’s (for the US listing) a few days back and hope it goes again < $4 to add more. But I'm not sure we'll see those levels again. 🙁
Best to you,
LPG
Thanks for that LPG.
Mr. Korelin, please, don’t feel worthless, I think it is very important to keep in mind the economic fundamentals, which you often so correctly point out.
I would say that the market is in the process of leaving everyone behind right now. GDXJ just rallied 33% off its low and is digesting that move in a bullish manner (currently still up 28% after quickly dropping 9% from its Tuesday high). I will buy again below $27 but have a lot of exposure right now.