Stock Market Plunge
- Thread starter gchaneyjr
- Start date
I'm also heavy in cash but have upped holdings in gold stocks. Never been a better time to invest in gold.
Invest in golf lmao..... talk about an amateur play. Go look up Warren Buffett’s take on investing in gold.
...... lmao
Unless you’re retired and need the cash what you’re doing is the exact opposite of what any expert would advise.
The stock market has a 100 year history and it averages somewhere around 8%-9% return.
It may indeed take another dive but trying to time it is silly.
The question you have to ask yourself is do you think it’ll be higher in say 10-15 years? If it is,what’s the point in jumping in and out and paying taxes and fees and most likely missing the entry point?
The stock market has a 100 year history and it averages somewhere around 8%-9% return.
It may indeed take another dive but trying to time it is silly.
The question you have to ask yourself is do you think it’ll be higher in say 10-15 years? If it is,what’s the point in jumping in and out and paying taxes and fees and most likely missing the entry point?
Low IQ reply. And triggered. You keep grinding out that gold investment - that’s noble amateur work you’re putting in these days.
We are in the early innings of a new bull market for precious metals. There is good reason why gold and silver have served as hard money around the world for thousands of years. It is the same reason gold remains the most ubiquitous global central bank asset on the planet. You're an idiot with an agenda!
A few reasons why:
The companies you invest in are not guaranteed to be around in 10-15 years. Some will, others will be worth next to nothing, yet others will be out of business - therefore it would make more sense to take a cautious approach when dealing with recessions - and instead of blindly staying in stocks for decades with the expectation that they will always rebound, just put tight stops into your positions to protect your profits.
Recessions are fairly straightforward to predict based on leading economic indicators that have a very high probability of predicting the next one - indicators like the ISM, ISM-Non Manufacturing Index, Building Permits, U of Michigan Consumer Sentiment Index etc. All of these when combined, can give you a pretty strong indicator of a future recession with a 8-12 month lag - so if the numbers are bad now, the likelihood of recession in a year is pretty high.
So if you have a very good indication that a recession is coming, based on having analyzed the aforementioned leading indicators, you don't have to stay in those stocks throughout the 2-3 year recovery period. You can instead cash out and stay in cash or else put the money to work in commodities or bonds.
Again, Low IQ reply. And triggered. You keep grinding out that gold investment - that’s noble amateur work you’re putting in these days.
Low IQ reply? Re-read your own. No logic, no reasoning. Just smart ass retorts. Like I said, you're an idiot with an agenda!
Correct. Buy quality...hold quality. You can't time the market. Reminds me of somebody that says, "I always come home a winner from Vegas". Sure you do, buddy.
We have made nearly 4x the amount we had in April, led by PRPLW which went from .53 on April 3 to just around 4 yesterday. We have begun taking profits and pulling back a bit since Thursday, with more to come on Monday. We will sit back and see where things are going over the next 2 to 4 weeks. Knowing that we are playing with house money at this point is a good feeling.
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Sorry mike, it is actually PRPLW. It is a company out here in Utah that makes mattresses and accessories. It was a tip from a neighbor that grew up with the founder of the company. No inside info, he just believes in the way that the guy runs a business. We bought in Nov for around .50. It went up to 2.50 before the shutdown. My wife sold at 2 on the way down and we got back in at .53, 64, and .72 on the way back up to nearly 4. It has been very good to us but like I said we are pulling back a bit for the next couple of weeks. I research a lot of stocks for us to buy but it is my wife that has a sense for when to buy and sell.
Based on what indicators? MiamiMike could never tell us before the virus struck.
I agree with you. But I am 10k away from my all time high when it was 29,500. Next sell off ill invest 20%. 1800 drop didnt pull me in. Im looking for 23k to start buying some.
A
anon_fklddvvf21y8b
Guest
Zacks--Economic devastations and resulting turmoil have gone well with precious metals, especially gold. The price of the yellow metal--an important safe-haven investment opportunity--has rallied 143.3% so far this year. Last week, gold gained 3.2% as Wall Street was routed on concerns of second surge of coronavirus. The momentum of gold is likely to continue this year. BTW. I buy shares of gold stocks, not the base commodity. My largest holding is Barrick Gold (GOLD) which has returned 28.78% so far this year.
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Gold gained 143% during 2020? Wow!
I have owned gold since the 1990’s, however I am a little leary of the moment. Gonna check out Barrick Gold.
Also check GDX(VanEck Vectors Gold Miners ETF) and Novo Resources Corp(NSRPF). Novo's pres has a doctorate from Colorado School of Mines and is well respected. This one has a huge upside with little risk as share price is under $3. It is the one I mentioned before that was up 9.2% yesterday. Barrick is trading at somewhat of a premium right now so I prefer the other two at this point.
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I'm currently invested in 16 various gold and silver stocks and ETF's. If any of them make a serious upward move, I'll keep you informed. One that's done very well is SPDR Gold Shares(GLD) but it's at a 52 wk high so best left alone for now. Good Luck!
Who can give me a stock that shorts Nascar? They will pay dearly for this stupidity.
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