needless to point out
posted on
Jun 26, 2013 07:40PM
Edit this title from the Fast Facts Section
the damage done in this commodities correction is horrific. I suspect from some of the stock charts and the drum beat of the bulls that we are very near a bottom and will have our bounce. Since damage is so severe I also suspect that a bounce it will be and not a continued bull which may either have been shelved, which I somehow doubt, but more likely may have been pushed further into the future. The mentality of this run will most likely be to sell and try and garner as small a loss as possible, probably because paranoia and fear from badly shaken confidence just might control the run. For me, i'm sure I;ll have a hard time buying even though I want to. I would rather see my losses come back and then buy but that won't be the way to play imo...gonna have to dive in and hold on with the intention of bailing right along with everyone else. Longer term, maybe 18-24 mths it may be different as some say but that's a lifetime to ride this type of market out. Alot of gold targets have been smacked down in the last few days with the pog starting to negatively affect the bottom line. Expenses have also come down to help but some of the bigger names that have merged / taken out companies at higher gold prices just may not be the ones to look at imo, as they will like kinross and others, suffer massive writedowns from prices that now seem exhuberant...anyhow just an opinion electing to maintain a cautious stance when it comes to trying to pick a stock. Seems there's no one left to trust these days and the waters are full of gators waiting to take a bite out of your hard eaned money. If euphoria comes back always keep this bear ravage in the back of your mind, just in case......well feeling a little f'd up after this long plunder...just hope the spirit to trade returns. Like to hear how you guys feel after this, it sure has worn the spirit down....