jim4silver
Silver Member
- Apr 15, 2008
- 3,662
- 495
I guess I am conditioned to just expect PM's (silver predominately) to get whacked every time they start to look like maybe they are turning up in price. However, I think things are possibly starting to change. One reason I say this is that some of the "wrong 99% of the time" PM pundit prognosticators are saying PM's are to get whacked soon. I won't comment on how some of these goof balls were saying PM's to the moon not too long ago. I am so disgusted with some of the PM sites I used to enjoy due to the fact they run stories that make speculative supermarket magazine rags look like reliable sources of info.
But leaving the inverse-indicator pundits aside, things do feel a little different this time. Even as the dollar has been making huge gains over the past 6 months or so PM's have not been driven down much and have in part re-gained some of their value as the dollar has been rising. I have actually been hoping a bit that we do get down to 14, or 12 or whatever price because my end goal of silver ounces is still far off and I have no desire to load up at current prices, even though they are not bad per se for someone who is just now getting the bug so to speak.
Some are saying that the eventual stock market correction that is long past due (based on past stock bull markets) will serve to knock PM's down again like it did in the mid 2000s when hedge funds/big boys were liquidating their paper PM positions to offset their losses in the stock market, etc. But this time I think is different because for the past 3 years PM's have been hated by mainstream folks while back in the mid 2000s there was much greater interest in PM's because they were in a bull market no one could deny- whereas now they are not (at least according to bears). So I would opine that if we do see a nice stock market correction (that I am hoping for even more than seeing silver at 100), what PM positions will the big boys and hedge funds have left to sell? I would say not that many compared to mid 2000s. I don't think a stock market correction will cause PM bug types like me to sell physical PM positions.
In any event I feel sorry for new PM bugs that are looking for guidance on the PM pundit type sites. In the end when/if silver does hit 100 or beyond the online PM pundits will claim they were correct, but will forget about all the wrong calls they made along the way.
Just my opinion.
Jim
But leaving the inverse-indicator pundits aside, things do feel a little different this time. Even as the dollar has been making huge gains over the past 6 months or so PM's have not been driven down much and have in part re-gained some of their value as the dollar has been rising. I have actually been hoping a bit that we do get down to 14, or 12 or whatever price because my end goal of silver ounces is still far off and I have no desire to load up at current prices, even though they are not bad per se for someone who is just now getting the bug so to speak.
Some are saying that the eventual stock market correction that is long past due (based on past stock bull markets) will serve to knock PM's down again like it did in the mid 2000s when hedge funds/big boys were liquidating their paper PM positions to offset their losses in the stock market, etc. But this time I think is different because for the past 3 years PM's have been hated by mainstream folks while back in the mid 2000s there was much greater interest in PM's because they were in a bull market no one could deny- whereas now they are not (at least according to bears). So I would opine that if we do see a nice stock market correction (that I am hoping for even more than seeing silver at 100), what PM positions will the big boys and hedge funds have left to sell? I would say not that many compared to mid 2000s. I don't think a stock market correction will cause PM bug types like me to sell physical PM positions.
In any event I feel sorry for new PM bugs that are looking for guidance on the PM pundit type sites. In the end when/if silver does hit 100 or beyond the online PM pundits will claim they were correct, but will forget about all the wrong calls they made along the way.
Just my opinion.
Jim
