I received around 100 emails, almost all of them thanking me for my publication but urging me to avoid going back into the market.
I truly appreciate the thoughts. First off, I haven’t gone back in yet. All I suggested last night is if we had another massive sell-off today I just may go long so stay tuned. The bearishness now is at an extreme and unless the end of the world as we knew it is underway, this level of bearishness is almost always at or near the bottom. Stay tuned indeed!
Gold- Has withstood the attack on the Crimnex (Comex) by the criminals who roamed that exchange. A close above $775 would be an all-clear signal.
U.S. Dollar – i continue to believe it’s forming a major top again so stay tuned.
Oil – It now has the number I wanted in front of it (4) to turn bullish again. Here too I’m looking for a one more sharp sell-off to go long again.
Don’t forget the football contest ( scroll back to post earlier this week).
Dear Peter,
I’ve waiting for some hopeful words from someone whose voice I trust regarding the markets. I know we are not out the woods yet, but just reading your comments and knowing your track record (relatively successful), I breath a sigh of relief.
Over the years I’ve followed your commentary on junior mining companies and bought some of your recommended companies. I understood most of the risks. Now I wait for things to turn in the juniors in the near future – I HOPE. It took me until last year to get a grasp on how devastating the enemy shorts have been on these juniors. I never really read much on that topic until about 18 – 24 months ago. Anyway I have stuck to my positions and wait what I hope to be a fruitful turn-around.
Your commentary on the markets, your beliefs and life experiences have been of great help to me over the years – and I THANK YOU for your time and efforts.
Sincerely,
Rich
Hi Peter,
I totally respect you putting you relationship with God first and foremost, I personally committed to Christ 2 years ago so I really appreciate you not holding back in fear of upsetting someone yet to find God. Thanks.
I particularly want to share my frustration that I did make a trade on LGL (Lihir Gold) in the Australian market at the end of day but as I am coming down with chicken pox I mixed up my order and only ordered 10% of what I wanted and then the market makers disappeared (trading warrants) so I couldn’t get the rest. I pay good attention to your views which is part of what helps me to make my trades and you would have been part of a healthy profit seeing as gold has since gone up $40 since then (assuming it stays there). So thank you also for your blog and I agree about fear having a strong hold at this stage.
God bless
Jair
Hi Peter,
I really appreciate the work you put into your blog and the thoughts and insights you share (both financial and spiritual).
I was wondering if you could comment a bit on what appears to be an all-out panic right now on Canadian Financial institutions over the last few days (particularly MFC.TO which I have heard many say is one of the more sound financial instutiutions in the world right now).
Thanks!
Hi Peter, is there any oil stocks in particular you like. I have been following more gold than oil and I’m not sure what the good oil stocks are to get in to. It looks like gold has turned the corner today. This looks good as you were looking for $770 to get the all clear.
This afternoon the gold price is solidly above the S&P500. When was the last time this happened? This seems a rather important milestone to me, and a vindication of our holding on to gold and gold mining shares through the recent slaughter.
Hi Peter,
You mentioned you are watching oil.What do you think of HOU-T ?
Thanks