Howdy everyone, so there's loads of talk about a correction in the silver/gold market. Does this mean that the price will fall so that 'they' whoever 'they' are can buy in when PM's are cheaper and all the common folk get worried so sell up and then the price sykrockets so that the rich still win and the poor stay poor? Am I totally on the wrong track here? When is this correction supposed to happen? Will the price skyrocket before the correction? Sorry if this is a ridiculous question I'm such a newbie I realise that noone has a crystal ball! :/
My understanding is "correction" is a term used for a noticable drop in spot price, at which time most seem to choose to stop buying and the wise "buy up"!
Only thing you got a little bit out was the poor reference. It's actually the middle class getting raped. They are the 20th century cash cows that keep on giving on. Time for a revolution of the old fashioned kind,I think Fiji got it right.
Yep, As above - Sept is notorious to spot increase - starts now and can run to early year... ajentjay - can I ask your source? link?
REDBACK~OBJECTION YOUR HONOUR!.. REDBACK~.Your Honour,the witness is hostile towards the property market,he has displayed this on many occasions. ... His statement therefore is purely opinion... JUDGE~.."The witness will refrain from making statements of conjecture".. REDBACK~.Thankyou your Honour JUDGE~Can you please direct your client to substitute the wording "The only correction" with "It is alleged there is a price difference in the property market" REDBACK~.Now Yippe,isn't it true there is a price movement happening in Most markets around the world not just the Property market. Therefore can you please tell the jury why you are focussing purely on the property market. It has been suggested that in fact you are Hostile towards the Property market,can you shed some light on this?
Corrections happen from time to time, usually after a period of irrational exuberance when the price increases significantly or when the price suppression conspirisists (JP MORGAN, et al.) decide to force a price drop. After a correction, you will see a period of consolidation, where the price builds a new base from which to surge higher. This is the nature of a bull market. To ride the bull, you accumulate during the consolidation. For instance Silver recently surged up toward $50 then "corrected" to $35 or so and has been consolidating around $38 and is now set to run higher ( next week, say). The bull market is characterized by higher highs and higher lows, with periods of correction and then consolidation between the two. So your are not wrong, except in not perceiving that it is a ongoing process. Now the macro-economical reasons for the existence of the bull markets in gold and silver is something of ongoing debate and observation, but has a lot to do with the unprecedented inflation in the global money supply and global economical, military and political instabilities that are afflicting the world in the 21st century.
pretty sure we've already had a correction from the last drop and my predictions then were silver will stay in the 40s, so hopefuly it is all uphill from here since i put all my money into silver the other week, [youtube]http://www.youtube.com/watch?v=FKMvu61hMRs[/youtube]
...for what it's worth,would be surprised to see sub $40 again...remember saying this at $25, and $30 and $32....now $40 - hmmm me thinks there a trend forming here?
Have to agree with the above I remember thinking the exact same but secretly (now not so secretly ) hoping it would drop below $30 or was that $40 again - just for a little while before it goes northbound towards the $70
I'm expecting stocks to take another hit Monday morning, and PMs to continue upwards during the day, then get sold off again overnight. Not sure when the correction will happen, but at the latest it will be when QE3 is announced this month or the next.
Excellent editing Yippe Court will recess for one week while witnesses are assassinated :lol: Cheers mate REDBACK
I seriously doubt we'll never see silver in the 30's again. I wouldn't be suprised to bsee 38-39 next week. This market is so up and down with 5 - 10 percent price swings in a daay high 30's happening again is almost a given that said it probably won't last long when it happens.
Thanks for all your replies everyone and humour! I bloody hope our house sells asap and we can be debt free, we are prepared to sell for way less then originally thought we'd get. Hope I'm not one of those witnesses that get assassinated lol I also hope the price can stay down a while longer until we sell the house and can buy more PM's with any money left after paying the blooming bank back. And we only just sent in our paperwork yesterday for our SMSF so I guess it'll be another month at least before we have rolled over our funds and can buy pm's with it. I't s like we are holding our breath and praying like hell that we come out the other side ok!
