Gold And Silver – Newton’s 3d Law Ready To [Over]React. Be Prepared.
Michael Noonan
GoldSilverWorlds.com
July 27, 2013
Our clarion call is for the physical market to soon takeover the actual price for buying and selling. When, we do not know? Timing is now less critical than actual possession, from this point forward.
The probability of a new low, in futures, may be 50-50. It was much higher, a month ago. The odds of successfully picking a bottom are remote. Not to pick on Richard Dennis, but he is a poster boy for losing big time when he tried to pick a bottom in sugar, to the extent of decimating one or a few of his funds. How hard could it have been to lose so much money buying sugar when it was under 5 cents, at the time?
The point is, never think you know more about the market than the market itself. It is for that reason we always say to follow the market’s lead. Too many try to get ahead of it, speculating that it will catch up to one’s brilliant “market timing.” Margin departments are usually the first ones to let the ego-driven speculators know that their [questionable] prescience has gotten a little more expensive, in the process.
The odds of being able to buy physical gold and silver, at current levels, diminish with each passing month. In terms of pricing for buying physical precious metals, [PMs], we are more than likely looking at the lows. The timing for buying and holding as much gold and silver as you can will not be much better than at current prices for a few generations. If anyone wants to pick a bottom in physical gold and silver, the odds are against them.
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