Gold knocking at $1300 this evening...

Discussion in 'Bullion Investing' started by -jeffB, Jun 15, 2016.

  1. baseball21

    baseball21 Well-Known Member

    A lot of panic selling over nothing since for Britain to actually leave it will take at least two years. Big money very likely moved in to profit off the opportunity. Probably going to see some more panic selling for a few days till something else takes up the news cycle while people quietly start picking up stocks cheaply that should have never been affected in the first place.
     
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  3. Santinidollar

    Santinidollar Supporter! Supporter

    :woot::woot::woot:
     
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  4. Brett_in_Sacto

    Brett_in_Sacto Well-Known Member

    Don't believe everything you read - the pollsters and the media continue to blow sunshine into the darkest places - where it doesn't belong. And someone owns the pollsters - it's obvious in this upset.

    This was the headline on June 20th.

    Wall Street Whips into Rally Mode as Brexit Fears Wane
    By Victoria Craig Published June 20, 2016 Wall Street FOXBusiness

    “That such shifts in global markets can be occasioned by shifts in polling of a few thousand people in just one nation seems odd, but such is the importance of the Brexit referendum to global markets that all other concerns have been cast aside, at least for now,” Chris Beauchamp, senior market analyst at IG said.

    http://www.foxbusiness.com/markets/...ips-into-rally-mode-as-brexit-fears-wane.html
     
  5. Santinidollar

    Santinidollar Supporter! Supporter

    The Thursday rally was, beyond a doubt, the most group-stupid thing I've seen in investing.

    There was one poll that gave the Stays 54 percent. Each and every other poll called it too close to call.

    What were those idiots thinking?
     
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  6. baseball21

    baseball21 Well-Known Member

    The Friday dump was far stupider for something that is at minimum two years away and really isn't a big deal overall. Article 50 hasn't even been invoked yet sport store stocks that have 0 connection to Europe in anyway shape or form are dropping because of a Brexit cus sure that makes sense lol.
     
  7. Santinidollar

    Santinidollar Supporter! Supporter

    The US markets went down as far as they did today because the pre-vote rally trades that should not have happened were unwound. Without that the Dow would have dropped 250, maybe 300 points.

    By the way, Baseball, I think you and I are in the same camp on this.:)
     
  8. saltysam-1

    saltysam-1 Junior Member

    Many peoples minds only work in the present. They can't see the future and panic. They really don't belong in the market at all. They are the biggest losers to start with and cause others to abandon their efforts. Years ago, gold and silver would be big winners during this type of safe haven opportunity. Now everything suffers.
     
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  9. baseball21

    baseball21 Well-Known Member

    I think so too, the much ado about nothing camp.

    You are right the markets definitely like consistency and predictability and the polls being wrong caused an unexpected panic. I will be more than happy to buy during the sell off. The one big downfall will be that I was thinking of getting the platinum eagle and the Nancy Reagan gold and now both will very likely be knocked into higher price ranges.
     
  10. Silverhouse

    Silverhouse Well-Known Member

    Overall I don't think this will do anything long term. There's been talk of the U.K pulling out of the E.U. for quite a few years now. Just the gloabalists trying to re-position things. Wonder if the BRICS currency will come into play. All I know is, nothing in politics happens on accident. IMO
     
  11. Santinidollar

    Santinidollar Supporter! Supporter

    As the smartest man in investments I've met told me years ago: Ones day does not a market make.
     
  12. Brett_in_Sacto

    Brett_in_Sacto Well-Known Member

    Agreed, but one day can make or break an investor.
     
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  13. anchor1112

    anchor1112 Senior Member

    Gold must hit &1.500.00 this year. Which it could. So that by next year. It could break the all time record high. Target - Gold $2,100.00. Silver $60.00. Ratio 35.
     
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