I smell a bounce. Covered my shorts.

llepard said:
I want to protect what I have.

They say in a Bear market he who loses the least wins. That applies here.
Click to expand...

Well said. I tried to talk some friends into speculating. Some didn't listen. Now they want to sell. I'm telling them it may or may not work, but I can't guarantee bearish profits like I could three weeks ago. Don't follow the herd unless you want to be first fleeced, then sheared!

llepard said:
I think we are going to have a total collapse of the fiat dollar standard. It is rolling from one asset class to the next. I think all paper currencies are doomed.

My bet is that at the bottom of this a gold based currency will emerge. Then things will get better.
Click to expand...

That will make things better. I've been afraid to hope that will be the outcome, though. They make too much money on fiat currency to not be trying to get us into another one. That means we can't count on them to do this, but we have to compete with them for people's confidence and we need a better plan. I think myself that old U.S. coins (dime and bigger, 1964 and earlier) will be wonderfully convenient items to barter. And I'm buying them.

No matter what happens, I don't expect silver to go down from its current, almost historically low price. My suggestion is to find anything to buy that isn't overpriced now and won't lose value no matter what. Tall order, but that's the name of the game.
 
acptulsa said:
Well said. I tried to talk some friends into speculating. Some didn't listen. Now they want to sell. I'm telling them it may or may not work, but I can't guarantee bearish profits like I could three weeks ago. Don't follow the herd unless you want to be first fleeced, then sheared!
Click to expand...

Well everyone is buying gold and silver now. Should we not do that?
 
ItsTime said:
Well everyone is buying gold and silver now. Should we not do that?
Click to expand...

Not everyone is. Most of us have been. We aren't what I meant by 'the herd'.

When the prices of the pms go up, the bargain sale price is over. Just remember that. Think for yourself.
 
Remember the bond market is not open today. It might make a big difference tomorrow.

It could well be a sucker rally.
 
now that was one hell of a dead cat bounce for one day


936 point gain... damn that cat got thrown hard.
 
took a 8% hit on SKF today, but turned around and bought Morgan Stanley muhahaha (for a few days)
 
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