Hi Mike (coach) et.al.
I agree with you 100%.
Unfortunately, what we read on these boards, and sadly too often, are the ramblings of the “me” generation.
I don’t post as often as I used to but read every post, every day and I often wonder why posters deride posts not directly addressed towards AUM (AUMN).
Remember, EVERYTHING that happens, affects the gold market, either directly or indirectly.
I buy on the dips as well. I also buy, regardless of the SP when I have funds available (not often these days now that I’m retired).
The marketplace is made up of everyone i.e. Approx 7 billion people (world population).
The marketplace is the total of all transactions, be they overt or covert. Each transaction has a bearing on the marketplace.
The Stock market is just a small part of the whole global marketplace and covers just a fraction of the total transactions of the marketplace, and one of the functions of the stock market, but not the only one, is for each transaction to satisfy the buyer, seller etc.
The stock market was originally devised to spread ownership (initially liability and then, potentially, future reward) and raise capital for companies wishing to grow, expand etc. It was NOT devised for each trade to make instant gains for buyers and sellers.
Each transaction, within the stock market, represents, in one way or another, a manipulation, be it large or small. Those that want to make money, try to manipulate the prices higher. Those that want to create bargains for future considerations, try to manipulate the prices lower. Those that have the ability to move any individual index, company stock etc. has the right to do so, providing it is done within the rules governing the market. Those that want to try and prevent, or resist these movements also has the right to do so.
To have it any other way, imo, defeats one of the purposes of the stock market.
Present rules, regulations, guidelines etc. are not supposed to guard against irrationality, public opinion, supposition etc. They are there to try and keep order.
When getting involved in the stock market, each participant should have a detailed action plan.
If the plan is to make easy money, you either need very deep pockets, have inside information, or be very lucky, and none of these is a guarantee that you will meet your goal.
If the plan is to invest in the future, you need to, initially do your homework, have conviction in your decisions and then above all exercise patience. Again no guarantee!
If the stock market is not reacting in the way any individual is comfortable with, it is prudent to either stay away or get out, with as little financial damage as possible.
At the end of the day, the stock market will only provide gains to those with conviction, as long as there are enough people, entities etc. who are prepared to sell at a loss.
Remember, the stock market, AND ALL OTHER FINANCIAL TRANSACTIONS ETC. are controlled by individuals, i.e. YOU!
If you just watch from the sidelines, without getting involved, you accept what happens.
If you want to change the system, get involved.
To do anything less, is to be the proverbial ostrich.
Some interesting links (from Ed Steer):
Good
http://www.businessinsider.com/iceland-economy-life-move-2012-4#1-first-off-they-had-their-crash-in-2008-things-are-very-unlikely-to-get-that-bad-again-1
http://www.reuters.com/article/2012/04/30/us-iceland-economy-idUSBRE83T0OR20120430
Not so good
http://www.nytimes.com/2012/04/26/business/chasing-fees-banks-court-low-income-customers.html?_r=2&nl=todaysheadlines&emc=edit_th_20120426
http://www.gata.org/node/11288
Also, I read an article recently (unfortunately I did not keep) that explained that “average Joe” was keeping his money away from the banks. Brought a smile to my face.
Good Luck to all!
