OTCPK:PGMFF - Post by User
Comment by
Welchspringon Jan 09, 2021 5:48pm
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Post# 32261981
RE:RE:cryptos
RE:RE:cryptos The problem is many who are investing don't recall the dot.com bubble. At that time stocks when through the roof with major increases in price. Some stocks were 200-300 times their value. Portifiio managers, etc. were promoting companies with no value but people continued buying these stocks. Then when the bubble burst people lost it all.
When I look at all the dot.com promotional components that when on and compare it to today's market we have a lot of similiarities. High P/E ratios, companies with high debt, and stock prices 50-100 Xs their value. I think we are headed for another equity market correction. If the Dow Jones gets to approximately 36,000 IMO we are in for big correction. IMO is could be 50% plus.
All of this biticon promotion IMO is being promoted which may or may not continue for much longer. At the moment people are herding to stocks which are running up in price to make a quick buck. Those that jump on broad early do well but those who get in late 95 - 98% of time they lost out. Ask yourself who starts these promotions?
On the other side of the market, unfortunately people are being brainwashed from investing in precious metals - gold & silver, etc. Even silver which has industrial value and there is going to be major shortages off. Hard to believe but I will sit and wait and pick a point to re-invest.
Ask yourself the question why would gold prices drop 70 plus dollars on Friday? There is no logical reason in an environment where money is being printed, governments in more debt then ever, unemployment number are high and we are going to have the US approve another stimulus package in excess of 3 trillion. I've lost count as I think the US will have processed 10 trillion is the past year and what percentage of their GOP is going to covering their debt? Gold should be in excess of $2300.