Sunday, August 7, 2011

S&P Downgrade from AAA to AA+

Looks like the market is in for another round of selling on Monday and into this week as S&P downgraded the US Credit rating from AAA to AA+ on Saturday.  Of all times to do it huh?  On a Saturday over the weekend.....   It should be no problem for those in a 401k that have moved their position out of the mutual funds and into cash or another fixed income fund.

As of Sunday evening at 8pm PST, Silver is up and is trading at $40.17 (after last weeks sell off),   Gold is at $1696.xx, just shy of $1700.

I am diversifing the remaining cash that I have into Silver...only keeping enough in my checking to pay bills...
2011 should be the last year you will see Silver in the $30 range. (Untill the blowoff crash after the parabolic stage....this will most likely be in a few years) 

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