Silver is still good, ya just need to know how to play it. looks to be steadying out around $35. I think the floor is somewhere around $24, but it might not make it down that low. They've been raising the deposits on silver futures, and it's driving speculators and hedge funds out. The demand is still there. It needed a pull back it was up 25-30% in a month which is ridiculous for a commodity. The dollar is still weak, and demand is still strong, silver could rebound easily.
Just seeing what everyone else is doing now. We have about a week to see what happens with the debt ceiling stuff. Silver has rebounded, and Gold is at an all-time high.
I was interested in stocks since I was in 5th grade when we did a mock-stock thing in extended math. I think it's time I start looking into it seriously. Thanks for the resources on the first page, Jone. I'm gonna give myself a little crash-course and play around with some "free money" like you did first. I wouldn't get into investing until I've actually got a job/some real money, but I feel this will be fun for the next few years.
On the day, I'm down about $350, since SLV is selling off, I guess, but I'm still positive on that trade if I were to sell. I figure QE3 is probably coming now that the debt ceiling was raised and growth is stagnant, so that and GLD probably have room to run by the end of the year.
I don't know how bad my other funds have been hit until they revalue tomorrow, probably good for another thousand in losses there, depending.
I'm a little scared to look at my wife's accounts, since her portfolio is about double mine, and it's in target funds... if I had to guess it's probably down a few thousand, at least.
Yeah agree completely Curtis. Job report tomorrow will either flatten out the market for the day if it's great or kick the crap out of the market if it's at or below expectations. Could be another blood bath tomorrow.
Oh most definitely another blood bath tomorrow IMO. Sigh... Oh well, looks like I'm going long in a couple of companies for at least a year or two now.
But I kind of expect it with a goverment ran the way it is today, that needs to barrow money, just to keep up with the payments. Increasing Debt = Inflation = lost jobs = bad news
If gold and silver are through the roof, chances are something is wrong.
All the metals took a bit off today. It's the options traders getting out to cover short equity positions. A day like today causes some margin calls, and those options traders need to cover their ass.
oddly enough today, I only got hit semi-hard with my GE holding(down 5+%), but I'm in some small cap, large yield stuff that actually were up about 1% today.
I still think Gold and Silver are good. I want to say Platinum is cheap, but it hasn't been keeping pace and I wonder if it's a sign of industrial use falling, which could be a good indicator that the the economy is about to take a giant shit.
As for QE3, I think the Fed is gonna want to try and do something, but they aren't gonna sneak anything by investors at this point. They may not really have an positive option at this point and may need to just let this play out.
I've been thinking the DOW should test 9700 for a while now. It's been going up on nothing. I actually built up cash in July leading up to the debt ceiling crap and been waiting to see what the fallout was. Now I'm just waiting to see when things settle out a bit and jump on some bargains.
Hope I'm wrong... but I think we're closing below 11k today. This is going to bleed hard until QE3 inevitably gets announced and then it might bounce with some steam. Until any government intervention, every bounce is nothing but a dead cat IMO.
Comments
Just seeing what everyone else is doing now. We have about a week to see what happens with the debt ceiling stuff. Silver has rebounded, and Gold is at an all-time high.
I've only got maybe 10% direct exposure to metals. I've been working on bringing that up, since my target is 25% (per the permanent portfolio).
So how is everyone's portfolio this morning?
The DOW and TSX are taking a SHIT KICKING, actually, most NA markets are...
The markets are due for a correction at some point.
I honestly think in next 12 months, we will be looking at a sub 10K Dow!
I'm down about 7k, Fuck this market with a capital F. At least I didn't hold DNDN.
Hehehe, im up
very little mind you, but still postive.
The markets have been way too over valued considering the shitty shape of our economy.
The markets are due for a correction at some point.
I honestly think in next 12 months, we will be looking at a sub 10K Dow!
I agree, but this correction might get bigger, not sure about sub 10K, but that might makes sense based on the economic indicators.
Job reports come out tomorrow, hold on to your undies...
I don't know how bad my other funds have been hit until they revalue tomorrow, probably good for another thousand in losses there, depending.
I'm a little scared to look at my wife's accounts, since her portfolio is about double mine, and it's in target funds... if I had to guess it's probably down a few thousand, at least.
DOW almost down 500 jsut before close. Is this going to continue tomorrow, next week?
I read in several places that if the jobs report for the US tomorrow even matches estimates (or is lower) the sell off will continue...
What a horror show...
What do you don't think this is the market correcting itself to reflect the current economic outlook?
What a horror show...
What do you don't think this is the market correcting itself to reflect the current economic outlook?
It was more the part where the losses nearly doubled at the end for no particular reason
What a horror show...
What do you don't think this is the market correcting itself to reflect the current economic outlook?
It was more the part where the losses nearly doubled at the end for no particular reason
Ya no shit. -265 20 minutes to close, click back at close -512 !!!
But I kind of expect it with a goverment ran the way it is today, that needs to barrow money, just to keep up with the payments. Increasing Debt = Inflation = lost jobs = bad news
If gold and silver are through the roof, chances are something is wrong.
We need real change badly.
oddly enough today, I only got hit semi-hard with my GE holding(down 5+%), but I'm in some small cap, large yield stuff that actually were up about 1% today.
I still think Gold and Silver are good. I want to say Platinum is cheap, but it hasn't been keeping pace and I wonder if it's a sign of industrial use falling, which could be a good indicator that the the economy is about to take a giant shit.
As for QE3, I think the Fed is gonna want to try and do something, but they aren't gonna sneak anything by investors at this point. They may not really have an positive option at this point and may need to just let this play out.
I've been thinking the DOW should test 9700 for a while now. It's been going up on nothing. I actually built up cash in July leading up to the debt ceiling crap and been waiting to see what the fallout was. Now I'm just waiting to see when things settle out a bit and jump on some bargains.
overall, i had the worst day of my life... down 7.5% in one day! insane!
good thing we get our raises in less than a month! it will only take a few paychecks to make up for today's losses!!!
Looks like the Job report for USA was positive enough at 117k, but it looks like the market doesn't give a shit.
My guess for today:
TSX : DOWN : 125
DOW : DOWN : 100
I hope I am wrong.
must be, its back +110
LOL