Hello Matt: How are ya today? :-) Thought I would add my two-cents to the scenario that I believe will transpire over the months or even perhaps years.. "Accumulation" (Bottom: $230/$250)----"Acceleration" (Mark-Up: $300/$400)----"Distribution"(Top: $500/$800) -----"Panic"(Down-trend:$300/$400)----- "Distress Selling"(Near Bottom: $230/$250): Just another way of viewing the situation. Apply this to a Bell-Curve and veiw it as the Rule and not the Exception. It is apparent, which you have eluded to: " The steeper the rise , the steeper the fall and visa-versa". Hopefully we will reach the bottom in quick order. Year end tax-selling and the RRSP season approaching should put even more downward pressure on gold stocks. This should not surprise anyone. There are many arguments why gold should be held as a store of value and many arguments why it has had its day in the sun. Well, I suppose the battle lines have been drawn and time will only tell. If the countries of the world can simply dismiss 6000 years of history with respect to gold and its place in the financial system at the Blink of an Eye, all the more power to them........"THE MOST FINELY SPUN THEORIES ON THE STUPIDITY OF THE GOLD STANDARD, and all the clever satires on mankind's frenetic digging for the yellow metal and all the ingenious schemes for creating a GOLDLESS MONEY will never change the truly remarkable fact that, for thousands of years , men have continued to regard gold as the commodity of hightest and surest wealth and as the most secure anchor of wealth." (Quote: William Ropke in Economics of a Free Society):
Few Pearls of Wisdom I try to Follow:
1) Sell when the clamor of the bulls is loudest.........
2) Don't make waves, ride crests..........
3) Buy the stock and sell it to a bigger fool than I at a higher price---Don't be the bigger fool..........
4) Selling begets selling.........
5) A breakout is always followed by a pullback........
6) Always sell too soon........
7) Throw away on Major bad news..........
8) Bulls and Bears make money; pigs lose money........
9) Faith, hope and charity have nothing to do with financial success..
10)The light at the end of the tunnel may be a train coming at you....
11)The market very seldom accommodates you...........
12)The market will do what most people least expect.........
13)Don't be stubborn,you cannot afford it..........
14)Heavy insider selling ia an immediate sell signal...........
15)Market Volume increase accompanied by price decline signal a bearish trend.............
16)Major increase in margin buying is bearish...........
17)The market punishes sentimental investmnet decisions.........
18)Don't be goaded on the illusion of riches...........
19)Don't over stay your welcome in the market.......
20)What goes up(or down)very fast, reverses and comes (or up)just as fast..........
21)Try to buy at the bottom................
22)Take profits when you can ,for they are hard to come by ....
Just a little info that I thought some-one might be interested in for what it is worth..............Talk later.....Good Dayyyyyyyy Ronald
PS: " Money alone sets all the world in motion"..Maxims,1st century B.C. |
