GREY:PTQMF - Post by User
Comment by
Libertygon Aug 08, 2011 11:29am
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Post# 18916453
RE: Markets
RE: MarketsKeep in mind if we get accelerated selling in general equities it could lead to liquidating in the precious metals sector as well. It wouldn't be a fundamental shift in the metals but a by product of losses. So far Gold and even silver are bucking the wholesale selling, SO FAR. PTQ if it were to break below the .60 spot in a full scale market sell off could spike down to .40 next. Don't lose sight of the big picture and how strongly wholesale market selling can affect everything and anything. Saving some dry powder for prices you thought were never possible is not a bad idea. This is what i was looking for since April as that last best buying opportunity. Now it appears to have finally arrived.
The US market is very oversold and could be setting up for a bounce, but these types of events can escalate dramatically to the downside. Impossible to predict where this will go in the near term.