UPDATE FEBRUARY 20th;"S&P 500 (at this link) has biggest fall since November". Right on time? Here's the original post
"The Market Oracle" Financial site is the go-to site
AT THIS LINK for gold bugs and, as a necessary compliment to that to doom and gloomers par excellence.
It makes fun reading for those not heavily invested in the share market and especially for those not influenced by commentators with a barrow to push.
That said there are times when one is brought up with a start with what is irrefutable evidence in the way of historical statistics.
I have learned that as irrefutable as these statistics may be the lesson is that "past events do not necessarily predict future ones" and that is no matter how often in the past that past events actually did predict future ones.
Financial commentator Clive Maund AT THIS LINK has an article up entitled
What Will Happen to Gold and Silver Stocks if the Stock Market Tanks?which in one sentence basically encapsulates all the cautionary comments I made at the start of this post.
Maund states that it is possible that not only will speculators who have been riding the stock market in search of income as the Fed has kept interest rates artificially low be hurt (i.e. Mom and Pop) but the bull market speculators will be "annihilated"
His twenty year Standard & Poors 500 index chart which shows a top at 1500 followed by a massive downturn happening twice before and our being-yes, at exactly the same spot is, frankly scary. Bloomberg updates the chart daily AT THIS LINK
He advises that there will be a high again at some point and looking at his chart it would seem that buying in (if you have any money left) around 600 would be rewarding. That is if the marauding mobs haven't done you in by then of course.
Well, we will see if history repeats for a third time. My reading of the charts looks like it takes up to a year from hitting the resistance level, to the start of the downturn. Lets hope this doesn't come to pass unless cleaning house, and the election of a female "common sense conservative" is the end result, in which case the bitter pill may have a sweet after-taste.
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