A few members and friends have ask me if they should now buy the gold companies that we have been recommending.
Yes, slowly pick away at these prices and buy more if the price comes down.
This past weeks take down is almost done, now and later this fall will be the BEST time ever to buy the physical metals and companies we are recommending. The financial problems will not go away any time soon, in fact things will get much worse before they get better. We still have a 10 year run ahead of us in this gold and silver bull market and the best part is just starting. Everyone around the world will be moving to gold because at the moment there really is no other choice and it’s the best option. The world will park its faith in gold now and especially during this transition period where currencies and debt based economies fail. We are entering a new paradigm, uncharted territories, a new beginning... and trust me in a few years everyone will be talking about GOLD and when we see that happening, Golden Fortunes members will be booking some serious profits and looking for other opportunities around the world.
We already have several Website domains ready to go and when the time is right, all they need is the right opportunity and vision. India-import-export.com, India-real-estate-projects.com and India-franchising.com are just a few of the domains we have, but do you see where Golden Fortunes is going? Yes India. It probably has the best fundamentals as a country and culture moving forward and we are extremely bullish on its future, too many reasons to mention right now. Being Indian myself, I was born there but grew up in Canada most of my life, now I am ready to explore all of what India has to offer me as I consider taking up my Indian citizenship once again.
By they way, did you know who the biggest buyers of GOLD was during the 20 year bear market?
I hope you guessed India. The culture has always had an affinity to GOLD, the average citizen always saves in GOLD and most Indian women adorn themselves with GOLD. So if we ever see GOLD prices at $3,000, $5,000 or even $10,00, the average Indian's fortunes are about to change and could be a great equalizer for the Indian middle class. You may want to consider passing on this Golden Nugget to all your Indian friends, I am sure they will want to read why they have Golden Fortunes in their future. The Indian middle class will soon be able to afford all the luxuries of the west, while the west will have to live within their means, like Indians did for the last 200 years. Looking back at it, I guess you could say Indians are smart investors when they bought gold for under $300 from the West, they could now easily sell it back to them or at much higher prices later on down the road. I guess that's KARMA for you, the individuals who were suppressed for way to long by the west, may be able to do the suppressing back on the west. But I doubt that Indians would ever do something like that, its not in their nature and culture to oppress others. Most are vegetarians and won't eat meat because that would mean taking another creatures life, something they don't believe in. If history has shown us anything, the British were the ones oppressing Indians and enslaving them during their occupational rule from 1858 to 1947, that is until a little man named Gandhi put a stop to that.
Here is a quote I found by Gandhi, which pretty much sums up the mystery around GOLD and why it will WIN THE GOLDEN WARS.
“First they ignore you, then they ridicule you, then they fight you, and then you win.” ― Mahatma Gandhi
This Attack by the Fedi will be short lived in the larger picture of things. Traders and manipulators can distort short term movements in price and usually for their own gains. I hope the average gold investor knows this already, if not get use to it, it's their game for now and they set the rules. But like Gandhi said "then they Fight you, and then you Win", and yes GOLD will WIN at the end of the day. All we have to do is show the World why the GOLDEN FORCE is Right and then the World will be the Judge. Like how the British bowed out of India with it's tail between it's legs, the Fedi will have to retreat soon because he's fighting a GOLDEN WAR that he can't win The World and anyone who is willing to sacrifice themselves like Gandhi did, will make sure of that.
1 :40 pm - Update
Here is a quick review of a few favourite stocks in our portfolio and buy recommendations today. Slowly pick away at these shares, there is no rush at the moment, but take a new position if you haven't done so already or double down and add to these positions. They are at or below our initial buy recommendation price, this is a good time to average down on your position price. Only add these stocks if you are looking at a long term hold, these markets can stay weak for longer than we like, but in 2 to 3 years we can look back and say "We at Golden Fortunes got in at Bargain Basement Prices".
GWY-V - July 21 recommended price $1.00, recent high$1.53, today's price $1.04 - Buy it for long term hold
SSL-V - June 13 recommended price range $1.10, recent high $ $1.67, today's price $1.04 - Buy even more for long term hold
KGN-V - Aug 22 recommended price below $8.00 price recent high $9.59, today's price $5.36 - Buy it for long term hold
I already have a good position in the companies mention above, but I may do some portfolio adjustment now that we have had a great correction.
This means selling off some companies (not the ones above) and using the extra cash on some really good opportunities I see with buying some warrants on other companies.
If you are familiar with warrants, I have already been picking away and adding to warrants I already own on some really good companies which have 2 years or more left on their warrants. If you would like some info on warrants and which ones I am buying, let us know, we are putting together a special paid for report on warrants and at least 3 of our highly recommended warrants to hold during this bull market. I fully expect to make anywhere from 100% to 1000% on these companies over the next 3 to 5 years on them.
I have a feeling that the problems in Euroland is much worse than is reported on TV. Bank runs are happening already and there is a possibility of a "Lehman type" bank failure coming out of Europe (probably a big french bank), this could easily create a ripple effect like in 08 if it does happen. The dollar strength has nothing to do with US fundamentals and having a strong dollar policy. The US $ is only increasing in value because of fear coming out of Euro, they need liquidity and have been buying lots of US$ and the Fedi is dishing it out in spades. I am sure the Chinese are also probably worried and sold Euro to buy US $. Timing is everything, let's see if this happen and then make protective decisions and trading opportunities when it finally does.
How will this pay out for Gold if we do get financial system failures? At the moment it's tough to say, many Euro countries are selling gold right now to make ends meet, so we could see some forced selling pressure, but I believe it will be met with lots of demand with gold at $1600. The risk is that there could be additional forced selling by leveraged players, so we have to wait and see if this materializes and if so how much buying will come to gold when forced selling happens. Actually, I think Gold will remain at these prices as a minimum or trend back higher to $1900 or more if the risk of contagion are real. I don't think we will have a 08 crash in gold and probably will trend sideways after the initial "Shock and Awe" fall out we get in the markets, same for the gold mining stocks. I think the worst is behind us in gold and silver but we will be watch just in case, but I can't say that for the rest of the financial world.
So how do we play this market now that we have a basic game plan and we are close to the gold bottom for now? We could get a good rally from here, something I am expecting and trading, but remember these prices and bottom or slightly lower could be easily retested during the crash. I am fully expecting a retest of this price range some time in the next few months in gold and the PM stocks, so expect alot of volatility and trading opportunities. Once the re-test is finished and if support holds, then we will be adding to all of our positions and then will hold it for the next 3 years (with some good trading opportunities in between), but I don't think we will ever see these prices again in the next 5 to 10 years once this attack is finished.
Buy the good mining stocks now, sell some into strength on any rebound that we get in the PM sector and make sure you take some profits during the bounce up. If we see a financial melt down, we will go short financials with some cash that should already be on the sidelines. Let the crash happen and wait for a bottom at which time we will sell our winning short financial position and buy back the good juniors, mid size, potential take over targets, warrants and long term call options. Pretty much go all in on the gold sector, because like we said, the GOLDEN TRAIN will move on to next station and NEVER look back.
If you didn't get a chance to read this past weeks Golden Fortunes Weekly Review, here's the link and most recent updates.