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Stocks down 10%. Thoughts on markets/metals?
Posted:
Sun Mar 01, 2020 9:45 am
by coppernickel
The stock markets are down 10% this week, and likely to be down further in coming months.
Gold and silver are wandering like a pair of drunken sailors.
Platinum is down to nearly half of the price of gold. Platinum has for the past century been more valuable than gold. I think it's a fundamental that will hold.
I've taken the opportunity to use this week's investment funds to buy platinum.
Has anyone taken advantage of the platinum drop? Thoughts on the markets or metals.
I like the drunken sailor metaphor, takes one to know one.
Re: Stocks down 10%. Thoughts on markets/metals?
Posted:
Sun Mar 01, 2020 12:10 pm
by Thogey
I just heard on aljazeera business news. China's GDP growth rate is expected to slow to 4.5% in the first quarter. this is a 50% drop in growth.
I'll bet they catch up for the year.
Re: Stocks down 10%. Thoughts on markets/metals?
Posted:
Sun Mar 01, 2020 12:13 pm
by justoneguy
my 2 cents,
I think that a LOT of stackers count on there job for income and expenses.
Corona could easily start an economic downturn which could spiral out of control.
Stackers ARE going to sell off at any price to bring in food or mortgage payments
Re: Stocks down 10%. Thoughts on markets/metals?
Posted:
Sun Mar 01, 2020 4:52 pm
by coppernickel
justoneguy wrote:my 2 cents,
I think that a LOT of stackers count on there job for income and expenses.
Corona could easily start an economic downturn which could spiral out of control.
Stackers ARE going to sell off at any price to bring in food or mortgage payments
Stack of metal is safer than money in the bank.
Re: Stocks down 10%. Thoughts on markets/metals?
Posted:
Sun Mar 01, 2020 11:14 pm
by Changechecker
justoneguy wrote:my 2 cents,
I think that a LOT of stackers count on there job for income and expenses.
Corona could easily start an economic downturn which could spiral out of control.
Stackers ARE going to sell off at any price to bring in food or mortgage payments
I think (hope) most stackers have a reserve of a few months of mortgage payments set aside. Hopefully a good store of food as well. These should be your first investment.
Re: Stocks down 10%. Thoughts on markets/metals?
Posted:
Mon Mar 02, 2020 6:45 pm
by Recyclersteve
Dow up almost 1300 points today. Was this an oversold bounce, short covering rally or PPT (Plunge Protection Team) intervention? Also, there is talk that the Feds might be lowering interest rates- I certainly hope that DOESN'T happen. Those who have been frugal enough to save money for decades deserve to get a better (higher) interest rate. Also, higher interest rates cause a necessary (from time to time) purging of lousy businesses that can only survive on cheap money.
Re: Stocks down 10%. Thoughts on markets/metals?
Posted:
Tue Mar 03, 2020 11:08 am
by agmoose
And the Fed panicked and cut rates quickly today by 50 basis pts. I think they should have waited.
Re: Stocks down 10%. Thoughts on markets/metals?
Posted:
Tue Mar 03, 2020 12:06 pm
by shinnosuke
agmoose wrote:And the Fed panicked and cut rates quickly today by 50 basis pts. I think they should have waited.
Doctors around the world pause in slack-jawed wonder at the news because they had never been taught that rate cuts heal coronavirus.