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Are we where we were in March 2009?

renman95renman95 Posts: 7,037 ✭✭✭✭✭
in Precious Metals
I just heard a comment from a talking head that the stock market is where is was in March 2009 in terms of gold. If so we could head higher but as I write this the Dow is down 390. It seems there's more to this than just a correction with talks of another gobal recession with Europe leading the way. If this is all true then PM's could correct sharply. Remember the Fall of 2008? Gold and Platinum were around $800-$900 and silver in the $8 level.

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I wouldn't say March 2009. But the potential is there for it to be July/August 2008 which would be worse imo. The fact that gold is more closely following the odd year
    summer patterns (ie 2007 and 2009) suggests we won't see a summer 2008 type crash.

    Banksters are ticked off about the lack of QE so they dumped the markets but good after helping to run them up. Once QE3 is announced they'll release their grip.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • morgansforevermorgansforever Posts: 8,461 ✭✭✭✭✭
    <<As I write this the Dow is down 390.>>

    As I write this the Dow is down 512.
    I believe it was down a couple hundred yesterday, and a couple hundred the
    day before that. Obama said things will change, we''ll come together as a
    nation and Happy Days are right around the corner. What corner though?
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • dontippetdontippet Posts: 2,606 ✭✭✭✭


    << <i><<As I write this the Dow is down 390.>>

    As I write this the Dow is down 512.
    I believe it was down a couple hundred yesterday, and a couple hundred the
    day before that. Obama said things will change, we''ll come together as a
    nation and Happy Days are right around the corner. What corner though? >>



    The Dow was actually up yesterday, slightly.
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  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    I'm not. image

    I like the ups and downs.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i><<As I write this the Dow is down 390.>>

    As I write this the Dow is down 512.
    I believe it was down a couple hundred yesterday, and a couple hundred the
    day before that. Obama said things will change, we''ll come together as a
    nation and Happy Days are right around the corner. What corner though? >>



    11/2012 just have hopeimage
  • BearBear Posts: 18,953 ✭✭✭
    We are coming together as a people. 98% are poorer.
    There once was a place called
    Camelotimage
  • fishcookerfishcooker Posts: 3,446 ✭✭
    Good thing the debt ceiling agreement saved us, or it would really be down...
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭


    << <i>I wouldn't say March 2009. But the potential is there for it to be July/August 2008 which would be worse imo. The fact that gold is more closely following the odd year
    summer patterns (ie 2007 and 2009) suggests we won't see a summer 2008 type crash.

    Banksters are ticked off about the lack of QE so they dumped the markets but good after helping to run them up. Once QE3 is announced they'll release their grip.

    roadrunner >>



    Possibly, but its effect will be shortlived. The markets are basically back to last Nov. levels when QE2 was initiated. If there is a QE3, then markets will be LOWER when it ends then when it started. There is already a hole in the debt bubble, and while blowing more air into it may reinflate the bubble, it will also cause the hole to get bigger and the air to rush out much faster.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    There is already a hole in the debt bubble, and while blowing more air into it may reinflate the bubble, it will also cause the hole to get bigger and the air to rush out much faster.

    Dave, would you mind dropping that into a memo for Timmy, Bennie and the Prez? Thanks, jmski.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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