venture is nearing bottomI sold a chunk with 35% loss as I needed cash to .. but sitting back thinking about it gold and silver have been correcting for the last 2-21/2 years now. The Venture has been in a bear market for nearing 3 years now as well. We are reaching the previous 2 bottoms in the past 12 years and I thought why sell the rest when nearing bottom. This stock would be doing a lot different things and I couldnt have got in around 20+ cents if this was 2-3 years ago. With the debt ceiling looming, the fed claiming they are going to taper their bond buying which will just make interest rates go up and make the US officially go bankrupt which is something they will not do. As soon as they try to taper they will push themselves quickly towards bankruptcy and the party will end which is something they don't want to happen and won't let happen. With all this artificial stimulus the only thing that will keep it going is MORE bond buying not less. If you read the actual minutes of the FOMC meetings instead of the MSM's version of it they are more than open to doing this and they will in the future as QE1 and QE2 proved. As soon as they admit they won't taper or they will tippy toe around the issue saying "oh we will just not now". They have to do it to save face from foreign creditors abandoning treasury bonds but they will be back with more asset purchases on a bigger scale soon and we are going to see the metals rebound to new highs. I mean if you were 50k in debt and knew you were bankrupt, would you go bankrupt right then and there or would you max everything out to keep the party going for a few more years ? I mean if you got 50k debt and were bankrupt but could borrow another 50k or 100k who wouldn't ? The US is and will do this and gold/silver are gonna go up many multiples
We will soon see metals prices start their upward trend again which will get the venture going. Maybe a year and a half, a year, 6 months for the venture, but it will get going again and the volume and cash will come back into this sector and if you were able to buy companies with good management, good properties, pick right and sit tight, you will make a lot in the future. I believe these stocks will go down over the winter but bottom is near and the key to making money is buying low and sell high right ? A lot of people frustrated with what's happening but that's how the venture is right now. The bottom is here or close to here and I ain't selling no more and am holding.
Best of luck to all.