Made the mistake of giving this guy my time a few weeks ago. Didn't he bang on about silver going through the roof? I think he has called the stock market top like 10 times the last few years.
Polny has been saying for the last 6-12 months or more that you don't have any time left to buy silver... now he's saying it's going to drop.
I think it is going to drop this time because I've seen the media in Bloomberg website over the weekend http://www.bloomberg.com/quote/XAUUSD:CUR The Feds going to increase the rate. and this chart analyzed by the experts mentioned it is rending downwards: https://www.tradingview.com/chart/X...ERMAN-S-TRICK-THE-GOOD-THE-BAD-AND-THE-CHART/
Bloomberg is untrustworthy. Be very careful taking financial advice from mean stream media. They frequently lead people astray. I'd be VERY surprised if the Fed raised rates before the U.S. election. I personally rate it a 0% chance. That doesn't stop the rhetoric and speculation, however, and the market is hanging on every word from the Fed - whether it's true or BS is almost irrelevant.
^ should read "main stream media". I'll leave my mistake there though, 'cos it's one of my better Freudian slips. :lol:
BuggedOut, ok that does make sense. But in terms of analyzing the charts using Elliot wave and other Technical Analysis methods as used in the Stock market, do you think is that better or acurate than reading the Bloomberg news ?
In my opinion it is better to consider all info and weigh it up rather than choosing 1 over another. I don't really use Elliot wave and a lot of the more technical TA, I think if you'd be better served by just learning some of the basics and not try to get to complicated with it. As for Bloomberg, well I am a bit jaded against MSM but in all seriousness I am more likely to use Bloomberg as a contrarian indicator - or in other words, do the OPPOSITE of what it is telling people
I kinda feel sorry for MusicalSilver. That young man saved $500 to put into silver and has been convinced now to put it all on the stock market After seeing this thread and knowing what part of the cycle we're in... Hopefully he is also reading this thread
I guess it is better off to buy physical precious metals and keep it safe in the house rather than playing in the stock market ?
Nice Monday night northward turn, in that crazy thing they call the stockmarket... Anyone else want to make some predictions? I'm sick of being right all the time.
From what I understand, the stock market is hitting new highs yet all the indicators are that it should be going in the opposite direction. In fact the market tracks almost exactly the same the Fed's QE policy. However, there is usually a crash before the 'changing of the guard' in US politics, so the cycle suggests that we should be seeing a big downturn soon. And that's before we even get into the horrid state of the worlds economies. I don't bet on the stock market but, if I did I would be shorting everything.
Hi fscked, Do you think the price of precious metals also gets hammered hard this time after September 2016 ?
Keep and eye on the 50 and 200 day moving average. I think the metals are definitely in the beginning of a bull market that could run for the next few years quite easily, there will be drops (which should be bought) but as long as the spot price stays above the 200 day moving average then that is perfectly normal behaviour for a long bull market. Demand is strong and in times of trouble metals are a time tested safe haven, even news out of the NY Fed over the last few days is that more countries are repatriating gold back to their own reserve banks. If the global economy drops off a cliff, like I expect it to, then you may see short term drops in PM's, as with all commodities, as people sell them to recoup losses they made in other investments. This is a great buying opportunity, and from there we should see the markets take off in earnest. This is my opinion only and I am by no means an expert but, the historical charts are available and we should be learning from them.
