It is up now, correct? I checked 20 minutes ago. My remark about optimist/pessimist was just an old joke, non-related to market.

>12:38 pm PDT
>
>There is a battle being waged on Wall Street right now regarding a couple key lines.
>Namely : DOW $11k, S&P $1200, and Nasdaq $2200
>
>The shorts are trying like hell to close below these lines in order to confirm yesterday's push below resistance.
>
>>Well, I got some experience with collapsing empires :).
>>Pessimist: Our lives are so bad that it is just impossible to get worse than now.
>>Optimist: Possible! Possible!
>>
>>>I agree that gold stocks are performing poorly now but I think that is temporary. I would prefer to buy the GLD ETF (even though there is some manipulation in that market) but it is not available in my 401K. I believe central banks around the world will be shoring up their reserves and it might start being used for exchange in the future.
>>>
>>>Why would you buy physical gold/silver if you were not planning to 'bury it in the back yard' The idea is to protect yourself against your government. I also reccommend Guns, bullets, food, batteries....
>>>
>>>You are obviously more of an optimist than I am, I have lost faith in the governments ability to act in the interest of the people, and to manage their finances in any sound way. The ponzi scheme is up, the empire is collapsing and the emperor has no clothes.
>>>
>>>Bob
>>>
>>>>Gold stocks are performing poorly now. In regard to buying physical, records will exist anyway unless one buries gold in the backyard.
>>>>I have about 15% in gold stocks.
>>>>
>>>>>I have two options for gold proxies within my 401K, one is a mutual fund for goldmines, the other is a wider commodity play on equipment/infastructure together I have about 10% in. If I were buying physical gold and silver, I wouldn't be posting about it on a public board, so when the government confiscates those (like in 1933) in the future, there won't be a record that I own them.
>>>>>
>>>>>Bob
>>>>>
>>>>>>It is correct. 300 points was quite tolerable. It is just 3 weeks before next earning session, so market should survive this rough stretch. By the way, I saw you said buying gold. Do you mean physical metal?
>>>>>>
>>>>>>>I am fairly certain what Edward meant is that the 300 points or so (at the time of his posting) was less than what a lot of people expected. I think this was because they had the deritivies market open on sunday (I believe for the first time ever) so some of the risk of the events of Sunday could be absorbed before Monday.
>>>>>>>
>>>>>>>I look at it this way, the big boys are getting clobbered and they have resources and information that we don't
>>>>>>>
>>>>>>>'When elephants dance, the mice get trampled'
>>>>>>>
>>>>>>>>>>More to come...
>>>>>>>>>
>>>>>>>>>Not a bad deal for MER holders, by the way. So far, today's trading is encouraging enough.
>>>>>>>>
>>>>>>>>I must misunderstand. You can't mean you find a 500 point drop encouraging (biggest one day selloff since 9/11).
>>>>>>>>
>>>>>>>>Well, unless you shorted all your stocks ;-)