10.5
10 ..........................................few months
9.5 ...................................next................. if
9 ...................y ha.en..the......................... thi
8.5................a... pp. in................................. ngs...pen
8 ..This......m.................................................... hap...as
7.5......is...at...................................................................I...in
7 ..........wh...................................................................... th. k
6.5.......................................................................................... it
6 ...............................................................................................wi
5.5 ...............................................................................................ll
5
However the other likely scenarios are: 1) we don't have big rally I expect after falling from where we at 2) we hold this level for the long term and go sideways in a wide range for some time
Once again, I hope I'm wrong, but things are still getting worse despite the governments best (worst?) efforts. We are definitely hanging on by a thread. The greed and lying of our political and financial leaders have led us to this point, and more than likely they will lead America and the world over the precipice like a bunch of lemmings.
3 comments:
BTW I wrote this before the market plummeted today.
Chris,
Everyone that I've spoken with does no believe that this is a sustainable upswing. What are your thoughts on the market at the moment?
As you can tell from my chart in this blog, I think it is sustainable for 2 to 4 months, and unless things start to dramatically get fixed, I believe we could see a long and dramatic fall. I am not certain of this by any means, but I do know that any current rally will be based on nothing but hope at this point. If things do start to improve, we could start to see a base building.
I do feel by 1/1/2011 that the price of gold will be at a minimum double the value of the S&P 500. Despite this I am not putting too large of a percentage of my portfolio in it because I think too much of anything is way too risky. Gold is currently around 20% or so of my investment assets (with about 50/50 split in gold stocks vs just gold).
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