Loading ...Been an Idiot
I remember well thinking everything will come to an end soon starting way back 30 years ago or so, give or take a decade. It cost me my retirement. It continued with the explosion in gold after 2008 and gold stocks. Whoops! Tanked again. My friends became rich off blue chip stocks while I looked like a fool trusting in gold and silver. Anyone who hopes for getting rich quick with the miners is being as foolish as me. My wife thinks contrarianism is a fool’s game. Gold bugs might be right one day, but that will be for our children to discover, if they have enough by then to invest by then and haven’t listened to dad, the f**king nitwit.
Thats where cycles come in Marcus. You should only be in gold and PMs after the cycle low, and get out again ehen the dollar hits its cycle low and the CHF/USD ratio hits the top rail and all the indicators I showed in my post below are at the sell points I’ve indicated. In the mid 2020’s (probably 26) its time to get out.
It’s difficult to get out when you’ve lost everything being in, thanks though, Northstar.
Oh dear. I hope you get to recoup your losses.
The Gold Narative is seductive ….many many folks have bought into it and are still waiting for it to play out
You are not alone marcusjames. Its a tough emotional market
thanks for sharing. I am sure many others can relate
It fits with BPGDM http://stockcharts.com/h-sc/ui?s=$bpgdm and other sentiment indexes. Very bearish sentiment these days in precious metals. Very bullish in blue chips and stocks. One day it will turn.
That´s all I have to say.
only a loss if ya sold the stock, one day she gonna rocket up and hopefully we all around. Hecla puking to resistance line today. One thing is tho with these miner stocks is that many probably down 50-80% , these things can rebound very fast and furious when the game changes and could take only a week to regain to normal. Stocks ,just like marriage sometimes! Never again,! Sure, whatever.
Betting on the “end of the world” is a hard path to travel on: it only happens once. I also learned that the hard way, but fortunately I only made the bet with about 25% of my liquid assets.
Remember this: the stock market (or better, the market of stocks) represent [supposedly] the productive assets of a country and it’s unreasonable to think the powers that be (in our case a TOTALLY corrupt and manipulative government) won’t do whatever they deem necessary to prevent a total implosion of the same. This time they haven’t only “manipulated” but have almost totally destroyed market forces, and next time they will do whatever they deem necessary to prevent market clearing, including shutting down the exchanges. THAT is one good reason to hold some physical, but making major bets on PMs should only be done while there is a CONFIRMED Bull Market in the same.
Speaking of the stock market – and considering sentiment and psychology – please give the following a careful and thorough read: https://goldtadise.com/wp-content/uploads/2018/03/InvesTech-Market-Analyst-03-16-18.pdf
Marcus, don’t sell yourself short. You put your money where you thought was right and I am in a similar camp. With the vision of 20/20 hindsight it is clear that we are up against very powerful forces. I have been trying to understand these forces and react accordingly. Money is only part of it. Cultivating good and loving relationships, interests, hobbies, self awareness all will bring you spiritual wealth. The mining business is a tough game to play, I believe their products are great to hold for long term insurance but it surely is no get rich quick thing. So don’t beat yourself up just grab some popcorn and watch how the mighty paper manipulators get destroyed by arithmetic…
If you ghink about it, the world ending means only food will be valuable. I am more hopeful that we will rise from the ashes of the sovereign debt big bang and come out better than before. I lost all my savings in 2008 buying gold futures. Before that I had not bought any investments ever.
As I gradually learned about stocks in general reading martin armstrong, Rambus and people who are willing to be bearish on gold, I found that gold is a commodity and it trades like a commodity most of the time.
I would say general stock bull markets tend to be more extended and they have growth much better than gold stocks over decades because the mining business is hard and good resources in the ground are limited. That’s why I buy only bullion but mostly general stocks.