Great or Greatest opportunity in a while.
What do you recommend? A week ago I decided to put off my stock purchases (for a week). How much you want to bet its up tomorrow? On a Friday?
Oh, but I almost sold off some silver a week ago too!
Anyway, how the heck do you move stuff around if you have mutual funds? I mean if you think the market is going to drop for 3 months, I can't just pull it out and then pay the fee to get back in.
I think I can move stuff to bond funds. Is that a good idea for medium term (2-6 months)?
Use ETF's instead of mutuals. Easy to trade in and out of as stocks. You have inverse options and can even go 2 or 3 times leverage.
You want to know what a real market correction is?
Ask yourself what happened to the Ford Pinto.
Silver is going to tank for the next couple months- I honestly think it will hit 20 before it bounces back up, unless it finds some support in 28-32 range. Gold is going down too. Everything, all of it, down! WOOOO
(sold about 20% of my silver for 51$/ oz on craigslist to a guy. Not a bad deal, all in all. If it goes down below 30, I'll use that money to buy more).
Anyone know if I have a few thousand in gold and silver that I inhereted, and if I decide to sell it say 6 months later and its going for more then, do I have to pay capital gains taxes on it?
I believe you need to make over a certain amount of total profit during the fiscal year before you start to pay capital gains taxes ($5000 in profits?). So, if your gold is just a few thousand and since it's gold it is not going to skyrocket, then you will probably get away without having to file a claim for it.
However, I am NOT the most knowledgeable person to ask about this so corroborate that statement before acting upon it, please!
EDIT: Just a newb thinking out loud; couldn't the above be a massive pitfall for a shitty day trader who didn't keep good records?
Lol, I was a bit off. It found support at around 34, and is now back to around 38 last i checked