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The three best bets for a more cuthroat bear market are (these are mine):
1. Eurozone crisis and a France downgrade
2. The continuing woes of BAC, mortgages and housing
3. A possible downgrade of America again by S&P
You can look at silver. Not as overbought as gold and has immense upside potential.
I like silver better too right now. More upside potential over the next 5-10 years and less expensive to buy into.
The only downside is you have to physically buy more of it to amount to anything resembling an "investment", which presents storage and safe keeping challenges. Those 500oz mint boxes are pretty slick though.
NOW is NOT the time to invest in Gold (or silver)... here is the ONLY fact that we have.. from 1914-2010 the average inflation adjusted price for gold was $672 per ounce. Gold is almost three times that amount right now. I understand that the price should be higher than the average in this economy and with the decline of the dollar. But three times the amount is simply too much. This is indeed a gold bubble. I will buy after the pop.
Here's the sobering article that was cited by ariadne22 a page back - that link didn't work:
THE SWISS FRANC AND THE DEVELOPING CRISIS – cheechdog - My Telegraph (http://my.telegraph.co.uk/cheechdog/cheech/15951474/the-swiss-franc-and-the-developing-crisis/#more-15951474 - broken link)
Last edited by HankDfrmSD; 08-21-2011 at 03:29 PM..
I'm afraid that some of you that are buying gold now are going to get burned.
(Just a fair warning 'cause I'm going to be laughing my ass off at all the speculators that get burned when gold crashes and I don't want to feel guilty for laughing at my internet correspondents. )
I'm afraid that some of you that are buying gold now are going to get burned.
(Just a fair warning 'cause I'm going to be laughing my ass off at all the speculators that get burned when gold crashes and I don't want to feel guilty for laughing at my internet correspondents. )
I think you're right. So many times people think that now things are "different", but things always go back to historical averages, whether it's stocks, tulips or real estate. The whole bubble mentality is to look for why it's going to be different this time, but it never is. Like how people were saying that real estate will forever plateau, because prices just don't fall or how so many dot coms were a sure thing, even though they weren't ever profitable. The ride down will be fun to watch.
Trends like that don't reverse very suddenly. Not when driven by fear.
Gotta say that's a scary chart. Gold sure does look like it's headed for a plunge. On the other hand, our politicians here and abroad don't want to handle the problem, so there could be a lot more fear afoot with all the dithering. More and more execs on TV/CNBC ranting at the do-nothing politicians. Heard one (Rodriguez) say yesterday we've got about 15 months before we go over a cliff - about 4 mins in.
Gold is at an all time high and stocks are cheap. Buy low and sell high is the only investin rule that matters, and gold is ULTRA high. Could it go higher? Sure it could. But will it go up significantly? I doubt it, and I wouldn't feel safe about it staying as high as it is. Fortunes are made by buying when there's blood in the street, and that's RIGHT NOW people. Load up on good, discounted stocks and load up on financials while they're a bargain basement special. If you MUST own something gold related, look at FCX or NEW, both great (and cheap) gold stocks. Personally, I prefer FCX because it's also a copper play. And meanwhile, here's a good article to take a look at.
Gotta say that's a scary chart. Gold sure does look like it's headed for a plunge. On the other hand, our politicians here and abroad don't want to handle the problem, so there could be a lot more fear afoot with all the dithering. More and more execs on TV/CNBC ranting at the do-nothing politicians. Heard one (Rodriguez) say yesterday we've got about 15 months before we go over a cliff - about 4 mins in.
Guess the politicos figure they may as well take their August vacations - since we're not at the brink - yet.
When five consecutive Thursday job reports tell us that the US economy added several ten thousand jobs and cut into the UE%, that would be when I would prefer to sell gold. Until then, I don't mind riding the tiger
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