I remember back in 1987, I was so sure that the market was going to crash that I sold all my stocks, except some gold stocks, and went off to the Dominican Republic for three months. I was so sure that something bad would happen to the banking system and the markets would flood to gold as a safe haven. Back in those days, living on the beach in Cabarete, there was little news. I had only heard that the markets crashed hard in China. I jumped for joy thinking that I hit it big.
When I returned, I was dismayed to learn that my gold stocks got called away in a margin call as yes, at first gold did rise but then fell.
As we are in a similar scenario, 1. while one week early, I had been expecting a top here and had been moving to gold and silver. And yes, the market crashed and gold soared, until this week, when it didn't anymore. As I recalled 1987, I can look back on the data. Look at how it played out from 1987 to 2000! Oh my. In a post today on GLD, I noted that if we are in Wave 4, it might take 2 years.
Geez, looking at this chart from 1987, I may not realize any gains in my gold in my lifetime. Happy Friday the 13th. Better buy some puts just in case.
When I returned, I was dismayed to learn that my gold stocks got called away in a margin call as yes, at first gold did rise but then fell.
As we are in a similar scenario, 1. while one week early, I had been expecting a top here and had been moving to gold and silver. And yes, the market crashed and gold soared, until this week, when it didn't anymore. As I recalled 1987, I can look back on the data. Look at how it played out from 1987 to 2000! Oh my. In a post today on GLD, I noted that if we are in Wave 4, it might take 2 years.
