Claude Erb "possibility that gold will trade for $350"

http://www.marketwatch.com/story/in...that-gold-may-fall-to-350-an-ounce-2015-07-29

 

Log in or Sign up to hide this ad.

http://www.marketwatch.com/story/st...day-than-it-was-in-the-dot-com-era-2015-01-09

 

Yes sir, this market is ripe for a 10% plus correction. Look at CAT and other global stocks.

 

I don't see it going that low. A month ago I expected it to drop and I think it may drop a little bit more., then a rise will come as it's down but the rise will be brief, then it will continue to drop. When the fed announcement in September about interest rates occurs, that will determine the way in which it will go.

 

Here's a perfect example of todays financial "figuring."

http://www.bloombergview.com/articles/2015-07-17/germany-not-greece-should-exit-the-euro

I "figure" I'll hang on to my silver.

 

Does the word "Stacking" have any meaning? If you buy an ounce of silver at $15.00 and the price drops to $13.00 did you really loose $2.00? No you buy another ounce and now you have 2 ounces which costs you $14.00 each. The more you buy on the dips, the lower your costs per ounce is. Then silver doesn't have to go up as much to break even or sell at a profit.

Like any investment you should be asking yourself one question before you buy; How much of my original investment can I get back? Forget trying to make money. You'll lose it for sure. The goal is to invest and regain your costs. Then you'll be making money.

 

Yes, you did really lose $2.00, actually more becasue of the spread

You will also lose more if Silver continues to go down, that sword cuts both ways.

I don't think so. Investing is too build weath, If I just want to regain my costs, I just do nothing and avoid the downside risks

Not exactly how it has worked out for the stacker crowd.

 

I'm still stacking. I'm thinking of buying another 500 ounces with the price this low but I think it's going lower. It will raise first but not enough to sell and rebuy so I'm holding out. I may be right or I may be wrong but I'm still stacking.

 

We are seeing this and similar articles now, basically calling the trend after its become a trend. Isnt it the same ones predicting gold at $10,000 an ounce when it was rising?
Seems to me that there are hers of financial seers out there making fantastic predictions to get attention, and sell product. Maybe gold will hit $350, but not overnight, and that's still $100 an ounce more than its last low of $250.
Metals should be purchased with long term gains in mind, with funds you can afford to let sit fertile. Not money you may want to liquidate short term, at a huge loss due to timing.

 

Invest in 'umbrellas' Stock..........gonna need something to deflect all the folks jumping off the tall buildings.

 

Ahh green , all comes around. It will be like the 1990s again. I remember the comments my friend and I heard when we bought then, gold was headed to below $200 according to some magazine articles. Now if we can live a couple of decades after that, we can score again

 

That's like losing $100 on the spin of a roulette wheel and doubling your bet on the next spin. It might work a couple of times but you'll lose in the long run.

If you bought one ounce at $15 and the price goes to $13 and you buy another ounce, yes, you have two ounces at $14. But then if is goes to $11 and you buy another ounce, you then have three ounces at $13 each. Price drop, to $9, buy another and you have four ounces at $12. $7 per ounce with another buy gives you five ounces at $11 each.

Now, if the price goes back to $15 you have 5 ounces that you paid $55 for and you can sell for $75, a 36% gain.

If the price only goes back to $11, the five ounces you paid $55 for is still worth only $55, a wash.

On the other hand, if the price stays at $7, you have the 5 ounces you paid $55 for but you can only sell for $35, a 36% loss.

Amortizing your losses only works up to a point and is profitable only if the price increases back to near original levels.

 

I'm an optimist. I believe the price will go up, in time. So I keep stacking. as much as I can. You can't make money if you're not willing to take the risk.

What I said works for me. I'm also patient, so I can afford to buy and hold.

 

Love it - a man with a plan and a realistic horizon for leveraging the plan.

I'm in the same boat - although I'm pretty well balanced with a plan to buy the dips in stocks and metals.

I think going into the election year - caution and diligence will be rewarded.

 

I whole-heartily agree. Swings are coming. It will be a nervous time.