Why watch tv when there is way more drama on the metal market ahaha lol Well John Gault wont be seeing his dream of getting rich on his 2 ounces of silver ahaha
Damn it took too long to get my account in order and I missed that historic drop to almost 19 dollars AUD flat - that was literally just a few minutes! It’s less than 10 minutes to US open and already near 21 AUD. Bugger!
Well you'll be ready if it happens again. I personally wouldn't be surprised if it goes a decent amount lower but that's just an inkling.
I would close your account as it is too late to invest now. A chance of a lifetime gone in just ten minutes. Hopefully you believe in reincarnation and there will be another lifetime chance, although it might not get back to $19 again.
Have we seen idea 2 being completed? If so what is your thoughts on the next move? I am not following Fib or Elliot currently but action from 2008/9 would suggest that we are will see a slingshot back up in the next couple of months, maybe sooner. It could go lower first of course especially if we have more significant stock market action and/or a major bank goes under. There will be a general downturn in global spending so the stock market will continue a downward course until it is clear when this crisis will finish. The Market will explode after that as governments globally pump huge amounts of money into the markets to restart economies. This in my mind sets us up for the most almighty crash on 6-10 years time. I would expect a true unwinding of global debt at that time. Likely a shift away from the USD at that point.
This is the economic point of view but there is also the geopolitics point of view by George Friedman which I won’t discount. The coronavirus crisis has exposed the strengths and weaknesses of various societies. Germany, Japan and the US are all resilient societies in times of crisis. This is like a rehearsal for “WWIII”. Japan and Germany’s attitude is persist to the end. The US is practically a military oligarchy. Taiwan has proved that a bottom up approach, though chaotic during peace time, can work for Chinese people.
I hope you are right. Another 6-10 years to prepare would be great. Stack is nowhere near the size id like.
Preparation is never done. Its a journey not a destination as they say. Be glad for what you have and continue to save while still passionately enjoying life as soon you will be dead. Not because of any virus but simply our life has an expiry date. Live fully knowing that and be a free spirit.
100% agree, guess I was just trying to express how quick everything went to shit compared to the slow-er decline of 08 and 87. Never seen metal spot move that fast except in a bull run.
Imho you will see this type of event again and you will be more prepared for that as you have seen the lead up on this one. A wise person once told me - "An opportunity of a life time comes once a month". But we have to be willing to see the opportunities and willing to act on them.
Inventory will come back. Still there in bigger Australian sites, but the US is another story at least with silver. I’ve seen this sort of dip before a couple of times. I think there was proportionately something like it in 2008 and then again after the ATH in 2011 after the bull ran out of steam
I have zero faith in people that read all sorts of things into charts BUT you may be the exception my friend. Great call with your "fibanachi"? chart calls for the GSR. You called it perfectly if i recall correctly.
As someone who has the tendency to FOMO, I've given up on timing the markets. The only thing I need to know is silver will be above $25 sometime in the next 5 years, and gold will be above $2000.
What makes you so sure inventory will come back when every day governments seem to be pushing more and more confinement? Sure food and medicine will probably be allowed to be shipped but i can not see metal shipments being a priority. If truck drivers or their families get sick then i do not see the powers that be allowing them to deliver metal when they could be delivering medical equipment or food. THERE IS NO ONE ALIVE that can remember what a real world wide pandemic and accompanying panic looks like, we only have books to tell us.
My last batch of masks from Indonesia that i ordered late Jan, took 2 weeks to arrive by express air courier. It was stuck in Jakarta 10 days. I thought it might be confiscated. But the seller managed to get it through the customs. Some were not so lucky. Sure, some silver might be delivered but you can be sure there’s a lot of delays and maybe risk of being lost.
