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Are You Sure You Want to Sit on the Sidelines Now?
When you see gold fall below at $1,500 …
When you silver fall at least below $23 …
When you see oil plummet like there’s no tomorrow …
And you see the Dow Industrials melting in a 2008-style plunge …
I’ll be backing up the truck and telling you to buy almost everything with both hands.
What are the chances I’m completely wrong in my analysis? I’d rate them as very low, say around 10%.
And if it turns out I am wrong, I don’t have a problem with it. With gold ultimately heading to over $5,000 … silver to over $100 … oil to near $200 … and the Dow Industrials to at least 21,000 …
There will be plenty of money to be made.
– Larry Edelson, Uncommon Wisdom Daily
The above quote by Larry Edelson represents one possible outcome for gold and silver, albeit a short-term one. Yes, the metals “could” pull back, but personally, I rather doubt it. Gold has held up in the face of nine consecutive Cartel attempts to knock it down. Yes, nine in a row. And here it is, still resting above support at $1600. Do you want to bet against this powerful trend? I don’t.
So here is the deal – Edelson says gold will top $5000 and silver $100 but he wants you to avoid the market in case the metals fall another 5% or 6%. He wants you to speculate on the bottom. I think that’s bad advice. With an upside in the hundreds of percent and the downside a few percent, what’s the use of playing games. I am not trying to help you “invest” your money. I’m trying to help you save your @$# (pardon the vulgarity, but some times it helps to make a point!). This is like one big game of musical chairs and the longer you remain on the sidelines the greater the chance you will find yourself without a chair. You lose.
We are now about to enter into gold’s strongest season. China is buying up gold mines and physicals at a record pace. There is unrest and violence in South African platinum mines, which are shut down. Will their gold mines be next? QE is a distinct possibility at any time. There are lots of reasons why gold “could” go up, not down. If it does, write Larry and ask him to reimburse you for taking his advice and holding off, waiting for his $1500 gold and $23 silver.
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2012-08-20 11:17:10
Source: http://blog.milesfranklin.com/are-you-sure-you-want-to-sit-on-the-sidelines-now
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