Loading ...New Member – Introductory Post
Hi, this is my introductory post as a new member. I have lurked for years.
I very much enjoy reading about TA but personally am not competent to engage in TA. I do have substantial investments in the metals stocks with a specialist.
By way of background: B.A. Econ – Duke University ’75, J.D. LSU Law ’79.
In between the two I played some professional tennis and spent most of my time being first round cannon fodder for the big guns back then. From ’81-82 I was Assistant Administrator (like the Assistant Commissioner) of Professional Tennis in NY. This was prior to the Tour being taken over by the ATP.
So, if you have any tennis, instead of TA, questions let me know.:)
As for my non-TA view of what’s ahead for gold/silver (and this is the only gold prediction I will ever subject you to), I believe the soon collapse of the stock market will result in the immediate collapse in the price of gold to maybe $1200(ish) because of portfolio liquidations. I believe the trigger will be a combination of geopolitical/financial events causing a total crisis in confidence.
There will then be a short window of opportunity to acquire a healthy helping of both physical and PM stocks before many start to pile in and gold then goes rapidly to ~$10k/oz. There will be some major gyrations after that, but the resultant money-printing by the Fed and further domestic and geopolitical disturbances will ensure that gold will be revealed as the true safe haven.
Hopefully, at some point we will get a reprieve from the madness that is engulfing the Western world.
Good luck to each of you, and thanks to Fully and all the posters for all the great knowledge/wisdom/info shared on this site!
Welcome Jackson. As far as your point,”As for my non-TA view of what’s ahead for gold/silver (and this is the only gold prediction I will ever subject you to), I believe the soon collapse of the stock market will result in the immediate collapse in the price of gold to maybe $1200(ish) because of portfolio liquidations. I believe the trigger will be a combination of geopolitical/financial events causing a total crisis in confidence.” Based on what happened in 2020 and most stock market selloffs in the past your instincts would seem to have merit and if past is prologue, you may be correct. However, the most derided words in market history, “this time is different” may actually play out because, this time is different. Without going into a long list of all the economic, and political things that are different, the most important is that the 50 year price suppression using the paper futures market is unlikely to survive. If it does, you will probably be correct in your outlook. However, if it unravels in the days and weeks to come(granted a big if) than the price explosion you see after this one last dip, will occur immediately. Welcome aboard.
Thx, Chartsmaster, for your gracious welcome! Yes, it certainly could happen as you say.
CM, I agree with you that this time is different. I believe the advances in technology has gifted the purveyors of the fiat prison, that they have the world engulfed in, immense power of control of prices of things(stocks, bonds, commodities). The crash will occur in value of things and not in nominal dollar prices.
Welcome to the Tent Jackson, very much looking forward to your perspectives.