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overtheedge
Member since May 2012
680 commentaries - 6 followers

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The myth of gold price manipulation

- Clif Droke -

You are right about the huge differences between trading and investing.
But!!! You are wrong about buying solely on the way up.

For a maximum return on investments, buy on the way down and sell on the way up.
As the old saying goes, nobody will be ringing the bell when the market turns.

In the field of logic, an easy way to discern a fallacy of logic is by using the extreme case.
If buying gold as it is rising is true, then buying after the price has gone parabolic must be true as well.
More greater fools have entered the market by then, ergo more selling opportunities.
And buying at the top is truth at the extreme. Obviously not a good idea.

Intellectual honesty requires the same extreme line of logic for buying on the way down.
If buying on the way down is logical, then buying when the commodity can go no lower must be true as well.
Every marketable commodity has a floor value.
I prefer to buy when the goods are heavily discounted for quick sale.
Their loss is my future gain.

Count me amongst those who are in complete agreement with the maxim of "buy low and sell high".
Buying high and selling higher has rarely worked well enough to experience large gains.
Usually it results in consistent losses.
But it is for each to do as they inevitably will.
I would offer that following the herd is the easiest path to follow.
Individuals must depend on self and have no one to blame but themselves for their investing failures.

Commented 3167 days ago

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Beginning of the headline :How eager are gold bugs to believe their ill fortune over the last four years is the result of sinister forces rather than a lack of prudence on their own part? The answer is easily seen in the writings of gold commentators over the last few months. References to organized manipulation and an official conspiracy to suppress the gold price abound among many analysts and their followers. The collective passion behind this belief has reached a fever pitch and has created something akin to mass hys... Read More

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