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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 05/21/2007 : 15:54:41
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On one blog concerning the housing market there was a term that cought my eye, it was "Panic Buying"
The mentality of those who bought into the housing bubble was thus:
"Everybody else is doing it and is getting rich, why shouldn't I?"
It was once again the mentality of get rich quick at work.
This does have something to teach us as hoarders of Precious and base metals, we need an exit strategy as much as, if not more than, a strategy in buying/aquiring base and precious metals.
The best thing to do is to watch for the buzz words from main streamfinancial advisors, such as:
"Buy now or be forced to pay more later"
"Buy before the price goes up"
"The price has nowhere to go but up"
and the ever popular,
"The prices are shooting to the moon!"
the red flag to watch out for is
"This time it's different!"
Oh yes, this time it is the metals market to inflate.
Right now we are on the upswing on prices, base and precious metals wise. Only a few financial gurus are saying anything nice about metals, so the public is asleep on this one. When the Wall Street Journal, Barrons, and/or Forbes talk up the metals, then it will be a warning sign to consider selling off part of the hoarde.
No one can time the market, but the wise can time the crowd. It is sometimes a case of regretting by selling too soon or regretting by selling too late.
Best of profits to one and all.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly.
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Buzzwords
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