Discussion in 'Markets & Economies' started by SilverSanchez, Apr 15, 2013.

  1. SilverSanchez

    SilverSanchez Active Member

    Jan 17, 2011
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    Looks identical to the GFC

    67% down from highs for hui in 2008
    55% down from highs for XGD in 2008

    Today - we are nearly there at 2008 lows

    Remember Gold was $1000 (corrected to $700 or 30% back then)
    Oil was also at $150 a barrel

    This may be overdone - but technically all the crap in the charts need to be worked out, a bottom found and and that big run from 2011 in Gold and Silver to be retraced - just to relieve the tension of the last 2 freekin years.

    Its hard to go through, but it healthy. I wont be surprised if metals will be kinda tight and premiums will not reflect the paper price again (like 2008)
    When/if that happens - you know the physical market is setting the bottom (not the paper market). When you see the buy/sell spreads on the stocks widen... the market is running out of sellers.

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