I think we can expect a year of unrest in the Middle East at least, things have only just begun. I am also a bit nervous about buying at the current price. I have an itchy trigger finger though, and to borrows auspm's term some spare muggle money... I guess im possibly being too cautious, but at this point im waiting.
Does anyone agree with the post, I think it was a link from Turd Ferguson's site (I'll post it when I find it again), that the whole Middle East situation has been 'engineered' by those who would profit from seeing oil at USD500 a barrel which, in turn drags food & non-food commodities with it? Is oil becoming the Taliban's new opium? If there's in truth in this - there's no end in sight, any corrections are just bumps on the road.
IMO Two weeks and the stockmarket starts down for a month,I think. Don't know what this will do to silver.
Oh woops, my apologies to Ck's son... I just see Aus using it all the time I think to say the Taliban or Al Qaeda is behind all the revolts is a pretty long bow to draw. I think you may have meant to say Al Qaeda, since the Taliban is more a purely Afghani/Pashtun organisation while Al Qaeda is a transnational group. The whole war on terror was bollocks, no doubt, but it did severely weaken the international Al Qaeda network. They would not have the capacity to coordinate all the revolts we have seen... they may try to capitalise on it however. There would be far easier ways to manipulate the oil price than ferment revolt in half a dozen countries. I do believe in the sincerity of the revolutionaries in the Mid East who are seeking change and democracy. But they now run the risk of being hijacked by religious fundamentalists, or coming under the thumb of a new ruling class who will just be the next generation of dictators. This is why I believe we are in for at least a year of things settling down, and depending on who comes out in power once the dust has settled we could be looking at a decade of renewed unrest and uncertainty in the region, or a new age of peace.... or any number of things in between.
Could the general feeling in this thread be that of the "Wall of Worry"? If so, that's healthyand may be a clue that we are still miles away from a mania stage. I have a feeling that on the off chance a 'regular' person/investor actually notices what silver has done over the last year, the general thought would be something like "Oh darn, too late, I missed it" -- as they move on to buy more AAPL.
+1. I have my core position in PMs and am no longer buying with every dollar. I see major issues everywhere and am now aim to start keeping some cash on hand for when/if things turn really sour. Nothing would shit me more than having all my funds in PM's. A downturn gets hit, get made redundant and have to liquidate some of my position. This goes double if i have to liquidate at a loss. Besides if pms do correct lower i will have some more cash with which to buy some more. Regardless of what we all think of PM's Cash isnt going to go away overnight and keeping some on hand would be very prudent. You wont be able to buy food with PM's until things get real bad. Cash will still be king early on in any downturn or currency failure.
Current price action suggest we are now in another JPM 'holding pattern'. I expect the price to continue to weaken moving into tonight - with another handbag snatch likely - shedding perhaps a dollar. But if tonight's action is mild or flattish then I expect a stronger pulldown effort on Thursday night at the COMEX open. Nothing to fear though, just another short term buying opportunity coming up. A few dollars off, that's about it.
Here's a Zerohedge post which supports this thread's inital post, make of it what you will: http://www.zerohedge.com/article/goldcopper-ratio-surges-most-june-29 Many of the comments below the post reflect similar sentiments to Turk:
I think this is going to be the new trend.Big ups n shorter downs with a higher spot every time it settles.I am still buying as i am in for the long term (till death do us part)
i don't know enough about the market charts yet, but during the NYMEX window, there has been significant correction the last couple of days. Anyone hazard a guess at why this may be?
