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Tags: Average | Joe | Indicator | Silver | Pullback | rick | pendergraft

'Average Joe' Indicator Hints Silver Due for Pullback

By    |   Tuesday, 03 May 2011 08:26 AM EDT

While not an official indicator measured with statistics and the like, the "Average Joe" indicator that I take very seriously. What is the Average Joe indicator?

Whenever an asset class or a particular investment vehicle reaches the point that people of all different backgrounds and occupations are talking about it, the Average Joe indicator is too bullish.

Over the last month, I have had three different people asked me about silver. My father-in-law is a retired military engineer. During a recent visit, he asked me about silver and told me how some of his friends were telling him how much they had made on silver.

One of the other father’s in my neighborhood works in recruiting and job placement in the IT and software engineering field. He was raving about how much silver has climbed at the bus stop the other morning.

Over the weekend, the gentleman that cuts my wife’s hair was raving about silver and he even projected that it will go to $150 an ounce.

When the excitement about an investment like silver reaches such a feverish pitch, it is usually a sign that things are overdone and a correction is in the works.

When Average Joes start talking to you about investments, you should be worried about that investment.

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Pendergraft
While not an official indicator measured with statistics and the like, the Average Joe indicator that I take very seriously. What is the Average Joe indicator? Whenever an asset class or a particular investment vehicle reaches the point that people of all different...
Average,Joe,Indicator,Silver,Pullback,rick,pendergraft
213
2011-26-03
Tuesday, 03 May 2011 08:26 AM
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