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Sunday, May 09, 2010
Gerald Celente: 2010 global crash
7 comments:
Anonymous
said...
I agree with his advice about Wealth preservation. This crisis is far from over regardless of what the media and govt says.
The EU just designated $1T to break those that try to break the Euro, so I wouldn't get too warm and fuzzy about gold and silver right now. Once the short interest is high enough to make the equation worth the flash trade investment, bang. Before you can move money fast enough, you're upside down in your "Celente" trade. Just when you get comfortable with the bounce back and believe in stocks again, bang. Other way. Sideways trading benefits only the day traders who own the game. Just keep that in mind. We were in the same place in October 2009, when credit markets froze up and the smart investors who hold gold and silver as a hedge, had to dump their holdings to raise needed liquidity (cash).
And after-hours action is for setups, and does not indicate investor sentiment. Stay quick.
@ BxCap: Thanks. It looks like the Bollinger bands for silver opened up in Oct. 2009 and we saw a $1 per ounce drop in silver. Silver dropping today on cue; now at $19.23. APMEX is out of some fractional gold today.
7 comments:
I agree with his advice about Wealth preservation. This crisis is far from over regardless of what the media and govt says.
Bill Black was interviewed on PBS.
Weblink
Willy2 - thanks for the link.
The EU just designated $1T to break those that try to break the Euro, so I wouldn't get too warm and fuzzy about gold and silver right now. Once the short interest is high enough to make the equation worth the flash trade investment, bang. Before you can move money fast enough, you're upside down in your "Celente" trade. Just when you get comfortable with the bounce back and believe in stocks again, bang. Other way. Sideways trading benefits only the day traders who own the game. Just keep that in mind. We were in the same place in October 2009, when credit markets froze up and the smart investors who hold gold and silver as a hedge, had to dump their holdings to raise needed liquidity (cash).
And after-hours action is for setups, and does not indicate investor sentiment. Stay quick.
Silver was at $19.33 and gold at $1227 when I posted.
@ BxCap: Thanks. It looks like the Bollinger bands for silver opened up in Oct. 2009 and we saw a $1 per ounce drop in silver. Silver dropping today on cue; now at $19.23. APMEX is out of some fractional gold today.
I just watched Celente on Meltup; scary stuff. So Randy, which do you prefer - MREs or #10 cans?
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