Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
A tale of two stories. Any resemblance to another MFO poster is strictly on purpose.
For the MFO "audience"-
• Using my own fantastically accurate financial prediction formulation developed by my incredible STEM-quality brain I sold all of my silver position at the very high and took immense profits before the current market decline.
For myself-
Well, I still own my silver position, and it's way down from the "high", but what the hell, it's only a 7k purchase now down to 8.5k, so I'll just have to see what happens next.
The Supreme Court struck down IEEPA tariffs on Friday and the U.S. president responded defiantly by imposing new tariffs using a different provision (Section 122). His administration is also considering using another provision (Section 301) because the Section 122 tariffs will expire after 150 days. Needless to say, businesses and trading partners are facing tremendous uncertainty. GLD and SLV were up 2.70% and 5.16% respectively today. It seems likely there will be additional near-term price appreciation for gold and silver due to this chaos.
@Observant1 That seems a safe bet. And it is a safe bet that "tremendous uncertainty" is nearer a beginning, than an end.
Regardless, I am not keen on entering the fray. It requires too much absolute focus. I expect more upside, much more volatility, and eventually a sudden correction. I am probably wrong.
"Regardless, I am not keen on entering the fray. It requires too much absolute focus. I expect more upside, much more volatility, and eventually a sudden correction."
@Old_Joe I think you got in at a decent point. I also think there is more room for gains for you. I hope you make a sizable profit. My comments are not directed at you, if it seems that way.
Thanks, O-1 and DrV. MMkts may be safe (we hope) but really boring.
I know that you guys weren't picking on me- I just wanted to reassure you that I haven't totally lost it yet. Maybe by next week, though. Please keep an eye on me...
Comments
For the MFO "audience"- For myself-
responded defiantly by imposing new tariffs using a different provision (Section 122).
His administration is also considering using another provision (Section 301)
because the Section 122 tariffs will expire after 150 days.
Needless to say, businesses and trading partners are facing tremendous uncertainty.
GLD and SLV were up 2.70% and 5.16% respectively today.
It seems likely there will be additional near-term price appreciation for gold and silver due to this chaos.
Regardless, I am not keen on entering the fray. It requires too much absolute focus. I expect more upside, much more volatility, and eventually a sudden correction. I am probably wrong.
It requires too much absolute focus.
I expect more upside, much more volatility, and eventually a sudden correction."
I agree with all of these points.
I don't have objections to anyone trading or investing in precious metals.
It's just not my cup of tea, so to speak.
I wish you great success!
I think you got in at a decent point. I also think there is more room for gains for you.
I hope you make a sizable profit. My comments are not directed at you, if it seems that way.
I know that you guys weren't picking on me- I just wanted to reassure you that I haven't totally lost it yet. Maybe by next week, though. Please keep an eye on me...