“If that really is the case, I just cannot image what is going to happen to this economy,society and whole world…”
While it wouldn’t be pretty, and much pain could go around, perhaps we need this type of calamity to wake people up, so that enough pressure can be put on the powers that be for some real change. I don’t mean Obama “change”, but real change.
Such an event could be the chemo-therapy our society and sytem need. Hopefully the patient will be strong enough to withstand the cure’s side-effects. If that chemo turns out to be fatal itself, then can we as a society say that we deserved any better?
Stage3Feb 25, 2009 @ 4:25
Platinum(PTM) & Silver(SLV) will continue to outperform into the future.
tompaineFeb 25, 2009 @ 10:47
I think Rick is right about gold, and $901 would provide quite a buying op, even if it dipped to $850 afterwards, which is about the worst predicition I’ve seen from anyone other than the Prechterite Elliot Wavers. Does anybody think it would stay there long?
As for markets in general, the window of opportunity for Bob Hoye’s predicted rally into early Spring is starting to close.
Figures: Every time I decide to follow a guru because he has been so right for so long, suddenly his predictions fail. Or so it seems.
Then again if I had really be slavishly following his predictions, wouldn’t I have sold my Prudent Bear shares?
Big2CentsFeb 24, 2009 @ 18:29
Thanks Rick! Your comments on the market always is right on the target. And I generally agree with what you said about Gold and stock market. But your yesterday (2/23) remark really scared me! I am bearish the Stock market and long Gold since 2003, However, can the Dow really drops closed to 4670 even if Dow drops below pivotal point 6883 decisively!!! If that really is the case, I just cannot image what is going to happen to this economy,society and whole world…
You really think RE values in SF and NYC are on the brink? I thought SF had already been hammered this past yr.? NYC’s RE market never seems connected to reality.
BillFeb 24, 2009 @ 18:59
There definitely was an attack on gold today. After trading narrowly and sideways all early morning, there was an inexplicable “pop” of $8 at 8:40 am. Then just as trading was about to get underway at 9:30 (like one or two minutes before), wham there went gold. This is a highly highly unusual time for gold to get hit, and it got hit with waves of selling. (The other point of attack from the open seemed to be Barrick (ABX) which was walloped all day – down about 12% at one point). Clearly not normal “trading”.
Comments on this entry are closed.
Big2Cents writes:
“If that really is the case, I just cannot image what is going to happen to this economy,society and whole world…”
While it wouldn’t be pretty, and much pain could go around, perhaps we need this type of calamity to wake people up, so that enough pressure can be put on the powers that be for some real change. I don’t mean Obama “change”, but real change.
Such an event could be the chemo-therapy our society and sytem need. Hopefully the patient will be strong enough to withstand the cure’s side-effects. If that chemo turns out to be fatal itself, then can we as a society say that we deserved any better?
Platinum(PTM) & Silver(SLV) will continue to outperform into the future.
I think Rick is right about gold, and $901 would provide quite a buying op, even if it dipped to $850 afterwards, which is about the worst predicition I’ve seen from anyone other than the Prechterite Elliot Wavers. Does anybody think it would stay there long?
As for markets in general, the window of opportunity for Bob Hoye’s predicted rally into early Spring is starting to close.
Figures: Every time I decide to follow a guru because he has been so right for so long, suddenly his predictions fail. Or so it seems.
Then again if I had really be slavishly following his predictions, wouldn’t I have sold my Prudent Bear shares?
Thanks Rick! Your comments on the market always is right on the target. And I generally agree with what you said about Gold and stock market. But your yesterday (2/23) remark really scared me! I am bearish the Stock market and long Gold since 2003, However, can the Dow really drops closed to 4670 even if Dow drops below pivotal point 6883 decisively!!! If that really is the case, I just cannot image what is going to happen to this economy,society and whole world…
You really think RE values in SF and NYC are on the brink? I thought SF had already been hammered this past yr.? NYC’s RE market never seems connected to reality.
There definitely was an attack on gold today. After trading narrowly and sideways all early morning, there was an inexplicable “pop” of $8 at 8:40 am. Then just as trading was about to get underway at 9:30 (like one or two minutes before), wham there went gold. This is a highly highly unusual time for gold to get hit, and it got hit with waves of selling. (The other point of attack from the open seemed to be Barrick (ABX) which was walloped all day – down about 12% at one point). Clearly not normal “trading”.