A Contrarian View... by #58008 ..... Conspiracy Forum
Date: 10/28/2008 12:07:52 PM ( 13 years ago ago)
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I am a technical trader so the 'logic' behind buying or holding precious metals (usually fear based) is not my ultimate game. Trading opportunities are the bigger picture and holding small amounts of physical will not do squadoosh.
I also belive that metal prices could go much lower in the long run. Why the contrarian view? A lot of big playes have lost their asses in this meltdown. Billionaires have lost fortunes. This is well known on Wall Street. They are holding physical metals and have taken a bath. Will they stay wih a bad trade forever? No way.
This means there is plenty of supply waiting for the market which also explains why there is a shortage of coins available right now. Guess what? These players do not want be stuck with metal that is underwater in value. It's called a bad trade or a loss. For these guys it's a business and this was a bad business decision. So they will cut their losses.
This means any rise in price for metals will be met with selling. Sell, sell, sell. It will be very hard for prices to move higher with all the supply hitting the market. Prices of metals could remain depressed for years as a result.
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