Sentiment is now so depressed that even the most ardent believers in the gold bull market are starting to waver. The gold shares have been a bloody massacre. Gold traders are getting ready to jump from tall buildings.
I’m calling a bottom, around here. I found myself thinking “Well, maybe this is it. maybe gold will now tank, and that’s that.”. Knowing that I am what one would call a very dedicated gold bug, and knowing the psychology of trading, I’m going to have to assume that the bottom is around here somewhere. Not EXACTLY here. And I know, bottom-calling is HOPELESS. So don’t take my word for it.
Here’s something interesting though :
Hmh. Hmh.
Ouch. Pretty ouch.
It’s like they say about bull markets. If its going to continue, its first going to throw everyone off. No “traders” nor amateur investors will remain when this train takes off again. And that’s just how it works. You can either stay on, with a big hole in your stomach every time you check your account, constantly questioning if you should have sold long ago. Or, you can get off the train, and miss it. There is no “easy investing”.
Sounds like I’m a bit tired of the whole thing? Yeah. At the same time, I understand that it HAS to work like this. If investing was easy, everyone would be rich. So, we keep watching. At least, if this train derails I will be the last one on it, screaming “Up! Soon! I promise! We’re going up!”. Then again, if fundamentals no longer matter, and printing money works, I guess we’re all going to be rich anyways.
I’m hedging central bankirs.
And before anyone asks, the title was in fact irony. I am not giving up on gold. Just so we have that cleared up.
If I were in your situation, I would continue to diversify my portfolio in case something unexpected happens with gold or silver. I’m the furthest thing from an actual investor and am just a student cartoonist with an interest in learning economics as a hobby, but that would be my gut instinct.
Damn those “bankers” by the way. Someone should hold them far more accountable for economic problems and misallocations of resources.
No worries. I do have other things in my portfolio besides gold and silver. It’s just a major part of it. Slaughter continues today, much as expected. *zzzzzz*
Buying gold is speculation not investment.
Progressive/liberal David Pakman comments on the Rand Paul Hilary Clinton altercation.
I swear there’s a lot of Hegelian dialectic going on in modern politics. He’s one of the more intellectual lefties I’ve encountered and maybe he does have a point. Not sure, but the commentary is pretty immature and lacking. I was expecting something of far more substance or maybe a list of sources at the end of the video. Just childish insults and a refusal to make a rebuttal to the rest of what Rand Paul was saying.
I meant to say that I’m not a broker in the prior comment.
Watching the video again, he read six other incidents where more people died in similar situations, but the commentary afterwards is pretty lame. Rand needs to be more careful.