Although selling isn’t yet the strategy of Jim Rogers Soros has recently announced that he is getting out his gold and silver positions. Hopefully it goes down for a while. Ideally, they will continue to go up gradually with normal corrections. But if anything turns into a parabolic move, you have to sell.
When asked whether there is any Jim Rogers Soros insights, he said that he couldn’t really say. George Soros is kind of like his ex-wife.
Silver went up 25% in a month. That’s not normal. People who are good market timers probably made a lot of money. They are smart enough to sell at the top of these moves and then buy back lower.
Silver touched $50 recently. It might go to $35 or $33. Great. No big deal. Hopefully you are smart enough to buy more. These corrections happen. Everyone was panicked in 1987, but now when we look back it was just a blip in the middle of a huge bull market.
People get excited when a report comes out that 900 million more barrels of oil have been found. 900 million barrels of reserves is nothing. The world uses 86 million barrels of oil every day. There are 365 days per year. Do the math. Let’s say that the wildest bull estimate of these reserves is correct. It only adds two extra years until we run out of oil.
Stay tuned for more Jim Rogers Soros news.
