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dom1971
Member since May 2012
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Silver Has Broken Down

- Dan Dontrose - The Fundamental View

I'm not an investor... I don't own shares or have a portfolio. I don't even have any superannuation (401K) due to being "self-employed". I bought PM's because I was seeing a 40% drop in my US dollar salary (in AU dollars) over the past 5 years. I tried to protect myself against the crashing value of money, at least as I saw it.

My property needs maintenance before selling which I can't afford of course. Selling now would mean that I'd been paying double what I would on rent for the past 6 years to make zilch at the end of it. Plus the 50K the government got for the privilage. The losses would be 2+ years salary right there.

As for jobs, I have a degree and tons of experience but my skills are not in demand. Especially since I've been "off the radar" professionally here at home I have no connections and no network. At 42 I'm not in a position to re-train out of my dead career path.

We are all responsible for our own destiny, this is all due to my own stupidity of course. For every person that makes a good investment there is a sucker on the other end. I get it. It's the idiots like me that keep other investors happy. Smart money is counting on fools like me to pick up our feet and try again, only to lose again. I don't really feel like making them any richer by doing so.

After spending half my working life and having basically nothing of value to show for it I'm not seeing any point in making the 2nd half of this journey.

Commented 4039 days ago

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Beginning of the headline :I’ve written recently about the important levels to watch for in silver and went so far as to state that a “breakout” day was close. It appears as though today is that breakout day but unfortunately for longs it looks like the breakout was to the downside. This could imply that prices are now going to trend downwards to test the old support or, as is often the case with silver, we may see a whipsaw move to reverse. Bottom line, confirmation on the move is needed. As I warned in another of my... Read More

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