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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
 Posted - 11/27/2009 : 08:06:39
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Markets are down worldwide over a massive pending loan default in Dubai. Precious metals selling off hard pre-market (Country, can you put up a chart?)
Dalsuh, here's your pullback you were hoping for to buy some more silver 
I guess we'll really see what are stuff is worth depending on how fast it springs back, eh? 
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Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 11/27/2009 : 08:15:49
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As you can afford it, look for bargains in this fleeting selloff. Be a buyer with strong hands. In a short time, the lemmings will be fleeing the dollar once again.
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Kurr
1000+ Penny Miser Member
2906 Posts |
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fb101
Administrator
USA
2856 Posts |
Posted - 11/27/2009 : 08:40:28
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Amazing coincidence isn't it? Just as it looks like the dollar is about to drop like a stone, a financial crisis comes along a creates a flight to the dollar.
Wow! ARE WE LUCKY OR WHAT?!
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 11/27/2009 : 08:43:00
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quote:
Originally posted by Kurr
Any idea where the bottom might be?
Selloffs are sharp, vicious, and of short duration in BULL markets. Use them as BUYing opportunities in a BULL market.
I think we'll have more selling as the Asian markets open on Sunday. Further selling may continue into Monday. Look for bargains. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 11/27/2009 : 08:43:37
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thanks, Country.  Kurr - methinks the lows we've seen today are the bottom, wouldn't be surprised if (it might take a week) we're back at Wednesday's levels soon. Lot of this drop was triggered by stop-loss selling. PM's have been pretty resilient, if we just see some short-covering we'll be fine. I'm buying this morning, but don't have much to spend  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 11/27/2009 : 08:45:11
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| It's just a hiccup... |
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 11/27/2009 : 10:10:20
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Hiccups almost over...
Gold is back to $1176 and climbing.
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 11/27/2009 : 10:31:17
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| Time to buy gold and silver. Fools putting their $ into something even more risky....the US Fiat currency. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 11/27/2009 : 10:33:34
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| A lot of Middle East money may be coming in to the US market. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 11/27/2009 : 12:46:02
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Nice rebound for PMs today. Yes, the dollar is up but and PMs are down a little too but since they didn't tank that shows me they have a lot more strength than many may realize.
We will have to wait and see how this Dubai situation plays out next week, but I don't think it will be a major factor in the PM markets long term. |
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Think positive. |
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myfundsarelow
Penny Collector Member
USA
388 Posts |
Posted - 11/27/2009 : 12:51:51
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| if this drop in metals lasts for four days call your broker & buy more P Metals PEACE!! |
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strom
New Member
13 Posts |
Posted - 11/27/2009 : 16:26:15
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quote:
Originally posted by Kurr
Any idea where the bottom might be?
Gold was currently in a heavily over bought position. RSI recenlty was somewhere around 85, which is arguably ridiculous. Canal metrics showed gold to be overstreched and ready for a pullback. Although I am long on gold this pullback is right on schedule. IMO, we should see PMs pull back 7-11% ( possibly throughout all of next week) and then begin heading sharply back up, with silver pushing to break March's high. and gold entreching in the 1200s.
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Kurr
1000+ Penny Miser Member
2906 Posts |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 11/27/2009 : 17:53:38
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| Most of us who watch the PM market knew we would have to have a small correction |
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Looks Like We're Gonna Get Slaughered
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