Week 28.2 Nice Customer
Just meet up with another customer. We have a long chat, he said he been doing some stock broking for more than 10 years. Maybe client are his big chap. I told him I attending a property conference by WMA. http://www.wma.my/pic/
He told me that “Big Chap” developer customer told him not to don’t buy high end residential product. Target Landed terrace below RM500K or condo below RM300K still ok. Well, you make your own assessment ok. He said he read all my articles in my blog. Wow! Ok ok since so friendly, oklah lunch on me.
Let move on, after some talking I felt that I‘m still lagging far in price prediction. Well, trader only buys, sells and hedges mah, price prediction? sudah kena teruk2 last time still wanna to predict some more meh. Belum kalah cukup arh.
He said price will drop initially to USD36 – USD32/- /oz temporarily because the money is needed to cover the losses in other area such as stock exchange. After that, price will blow up like mad. Recently all major stock index world- wide drop like mad. Well, sound very reasonable. I told him personally I felt that it was difficult to drop below USD37/oz and historically august is a month where price goes up like mad. One should also consider COMEX delivery in September.
I was tempted, > 10 yrs + stock broking experience wow. He must have some right and authority. Let call my buyers sell them at slight discount, clear my stock and when it‘s drop to USD36/oz buy back like mad. Then I kind of forgotten about it cause too many things to do mah. Apparently early on Monday Morning, 8th August 2011, the price went up to USD40/-. I smsed him and told him, you wronglah. Luck I ‘m not tempted so much.
There are lots of things that we learnt from each other. When I got the time I will tell U all lah. Ok.
I expect silver to cross USD50/oz before 31st Dec 2011. Whether it will close above USD50/oz on 31st Dec 2011, I think maybe 40-60 or 50-50 chance. Year end fair price may be around USD44-USD48/oz considering existing condition. Initially I only expect year end 2011 USD40/oz but Japan tsunami has accelerated the process. I could be wrong ok. If U lose $ don’t quote me. If U win some $, well U can always belanja me.
silver will keep making new high from here , no need to try predicting it, it is in secular bull market. When in secular bull market, all you do is buy and sit on it.
ReplyDeletein chinese feng shui quote, secular bull means the rotating flying star, the wealth star is now with precious metal and commodities. not with stocks.
stock brokers can consider becoming farmers or miners.
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