Ohh boy...look out!

Gold is up over $1363 and silver is closing in on $26.00. These metals are going parabolic....how hi high will it go? Who knows....



Edited 1 time(s). Last edit at 11/04/2010 09:54AM by Aaron.

Very deep concern..........IRT our international stability.

Interesting, Gold was up to 1050 Euro in June/July here in Europe. Now it's maintaining around 960 (down 8%) . But, since that time (June/July) Gold has skyrocketed in US Dollars, up $150 or 13%.

Since June/July the Euro/Dollar conversion rate has gone from .83 to .71 app. There is your 12% difference. Clearly, if you are living in America, you need to hedge your dollar with Gold. My brother and father have a construction business together in Arizona and they both tell me the economy is pretty bad. They have had to drop their profit margin to 10%, which is pretty bad for a 3 person outfit. Does the economy seem pretty bad to you guys too? I think things are looking better in Germany, but due to the Euro, if anything happens in the surrounding countries, as it did in Greece not long ago, we will feel it in Germany.

Anyway, I hope I keep finding silver coins, but my Omega needs repair...

Most bull markets last 17 years, We could have 6-7 years left in the precious metals. Over the course of a bull market, there are usually 5 major waves.{ Elliott wave theory} Wave one is a slow grind upward. The buyers during this phase is the smart money, those who follow the markets religiously.It lasted 6 byears. Wave two is a correction, wave 3 is an up wave , where the buyers are the mutual fund managers, and those folks who take the time and study whats going on around the world. The 4th wave is a corrction, then the fifth wave ,the prices go almost straight up, for a year or less. Thats when the general public pile in.
The first wave lasted about 6 years, the 2nd wave was much shorter, we are now in the early stages of the 3rd wave. The elloitt wave theorists feel gold could go to $3500 from here, then the 4th wave correction sets in,bringing gold down to about $2500, and finally the fifth wave starts, and it is a rocket. Gold should hit $5-10,000 per oz. Then its over. The buyers at the end get stuck holding the bag.
Remember in 1999-2000? Tech stocks were going up thousands of %? That was the 5th wave. During that year , I made 7 figures in tech stocks. Just dont ask me how much I lost the next year!!!. Hopefully I'll play it right this time around, and have a nice retirement.

Full concurrence.....with one weird twist. It'll be a asymmetrical partial recovery.....due to paradigm shift-of-mindset... for mankind.

Also..........the almighty dollar will encur a entirely 'different' valuation (status)........forever.

x

Just a note: I have noticed that there is an increase of silver and gold coins on the auction sites for sale. Beware that the market is being flooded with fakes and they are getting better, some are very hard to identify. Do your research on the coin and the seller.

Tom in SC