What to do? What to do?

[editec]

I'd hold; keep your money in cash for now. We haven't hit bottom yet.

Agreed.

Suppose for argument's sake the market hit bottom and you miss the bullride by a half year.

So?

Better to discover you're right a touch too late, than discover you're than wrong immediately.

Cash is king for a while, methinks, Tech.

While millions of people keep losing their jobs and their homes, I cannot imagine the market will stabilize.

 

[editec]

Gols is a pretty yellow metal that is worth what ever people will pay for it. When the food riots start, gold will not have much value.

But cigarettes will.

Mark my words.

Tobacco has still had the longest reign as viable currency in North American bar every other specie. And that's NOT including the Amerindians using it as barter, either.

 

[editec]

I'd hold; keep your money in cash for now. We haven't hit bottom yet.

I agree with that sentiment. I'm a believer in the idea that this will end with a whimper and not a shout. The market is far too volatile to be at a bottom. My understanding is the next technical support is at 6000, true?

I was more wondering if anyone would say to get into metals at this point or if the ship sailed on that long ago. I'm concerned about inflation when we do get a recovery.

Maybe when people flood into the market after the bottom I'll throw 20% in gold as people sell theirs.

That would be the worst thing you could do - going into gold. Let's say you bought gold at $1000/ounce and did what so many idiots are doing and put 50% of your money in there - it's down almost 10% since reaching its high of $1005. It was around $900 earlier today. Read my lips: Gold will not reach $1050.

Silver on the other hand... that's a different story. For every one ounce of gold, you can get over 70 ounces of silver. And Cramer pimped silver the other day like a skank whore.

$13.90 is cheap for Silver? Didn't it touch $17 a few months ago?

If deflation is our fate, then gold, silver and art, too will go down if history be our guide.

And if you're invested in anything but absolute top tier art, (and you're not unless you filthy rich) art prices will drop significantly, too.

Anyone doubts me on this, I have investor quality art --i.e. well known living artists and a 19th century Hudson River illuminist piece to die for (I wasn't always poor ya know) -- I'll happily let go at a very reasonable cash price.