by Jack
It’s been less than two days since I served notice on PS about silver prices being over sold and ready for a correction and eventually a long climb upward into 2014. Today, silver lept 4%, not bad for a one day gain! In the last five years I have given 10 market alerts on stocks or trends and todate I have yet to miss. it could happen, but I’m very careful when I give advice to anyone on PS and that extra caution is why I’m 10 for 10. The typical return on a predication has been around 5% short term. Historically only taken about 2-3 days to hit, sometimes it’s been in 24 hours. Silver was my best precious metals prediction so far. I took profits today at 12:30 PST under the theory we may see some pull back in the coming days. I will be buying silver again when I see the chart indicators lining up, but for now I’m happy to take the money and sit on the sidelines. Silver has plenty of upside for the long haul, but I like to work the channels and maximize my investment. I also turned a quick buck on PXLW. Yesterday when it spiked 34% on irrational reasons, I decided to short this stock near the close of trading and today I took some hefty profits just before the open. Wasn’t as much profit as silver, but it was decent.
I’m old enough to remember the silver market going through the roof back in the 1980s. I believe it was the Hunt brothers that had their hand in it.
Did you see this Jack? Do you think what he’s saying is credible?
Oops forgot the link again. Hate getting old!
http://www.theblaze.com/stories/2013/08/09/dr-doom-predicts-get-ready-for-a-1987-style-crash/
Peggy, I’ve seen similar predictions, and there is truth in all of them. The market is over-bought and we’re still too leveraged. But, it’s more complicated than that. Government is likely to be the cause of the next drop…too much debt, too many dollars being cranked out, and this spells inflation. At the same time we have 62 major US cities unable to meet their obligations and the nation has neve recovered from all the jobs lost in the last 5 years. There’s more too… but another time.
Heard also when the middle-east explodes oil will shoot up to $500 a barrel. Our economy crashed in 2008 at $140 a barrel. God help us.
Peggy….Lets hope not, but Obama has sure set us up for a hit if it does.