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He also said to invest in gold.
if he knew he was right, he'd not make that info public, but would capitalize on it.
he's just trying to create panic, so he can buy cheap.
What he's saying is basically what any investor says, after a lengthy bull market.
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Of course this guy already bought gold and shorted major stocks prior to making this announcement.
Of course, I'm still storing yams and bullets just in case.
Goran_K saysOf course, I'm still storing yams and bullets just in case.
During extreme volatility, there is a lot of chatter like this from gold bugs and shorters.
I agree, as if the US dollar collapses, there are bigger problems to worry about. It is not as if someone will give you a box of canned food for a few Silver Eagle coins.
It will be more desperate economics by then, and gold, silver, bitcoin, etc. will not be the medium of exchange.
At that point, people will resort to the very basics of trade which means bartering like trading 12 eggs for someone to fix a broken toilet.
At that point, society will be at least 90% different than what it is today.
What he's saying is basically what any investor says, after a lengthy bull market.
The first sign of a bear market rally (a rally within a bigger bearish cycle) is that re-test of the prior moving average, before the 2nd crash. If the market can't sustain those re-test levels for more than a few weeks of price bars, then another wave downward follows.
Folks, this has happened before, 2000-2002 & 2007-2009. On longer term charts, the essentials of technical analysis hold up.
ad saysHe also said to invest in gold.
No more than 10% of any portfolio. Gold is a hedge against the loss in confidence in central banking, since all currencies are fiat based.
Do you think that we'll have market drop in next few month
Do you recommend moving money out of the market, or just moving them all into divident stocks temporarily? (not all of my investments pay dividents).
Do you think that we'll have market drop in next few month (at least on some level)? And naturally followed by recovery?
Or do you just expect small dips here and there, usual fluctuation?
I agree, as if the US dollar collapses, there are bigger problems to worry about. It is not as if someone will give you a box of canned food for a few Silver Eagle coins.
This is the fundamental truth that gold bugs forget.
if one lived in a country overrun by communists, see Laos/Cambodia/Vietnam during the 70s, and one has a gold account in let's say Australia
So as a technical type of thinker, I look at the middle of the "business quarter" Bollinger band before the spring crash and that is the level of 2950 to 3050.
Rin saysSo as a technical type of thinker, I look at the middle of the "business quarter" Bollinger band before the spring crash and that is the level of 2950 to 3050.
I don't know but this rally is looking strong as it's easily finding support in my range above w/o those weird looking inverted hammers for the weekly price bar.
If it can sustain this for another week or two, then in effect, the Bear Market was postponed. And given the sad state of affairs, I'd rather wait than to have another market crash so early after re-opening the economy.
it's hard to predict where anything will go
The billionaire Paul Singer the market may drop 50% from its all time highs. It dropped 35% in March. So we may have another downturn and a larger drop according to Singer. He also said to invest in gold.