Well bobby its been pretty nice to me over the last 1.5 years, so I'll take every bit of it, along with todays drop<<<
ya, i've made some money on gold stocks in the last couple of years, but there have periods where people have gotten too exhuberant and it's time to take profits,
the gold stocks don't move like beaten down tech stocks, these suckers can give you huge gains off oversold bottoms, you would think some of these penny gold stocks should be going to the moon with the breakout in gold, but they are laying down, only giving off some bad flatulence -g-
I don't have a lot of time lately to read threads, but when i made that wave count on ASA at the end of 2002, i was surveying Zeev's board and 50-60% of the posts were people glowing about gold stocks, it was quite reminiscent of the sentiment around the late may/early june top.
The general market, including gold is in kind of need of some electroshock therapy, because it doesn't know which way to go, but the gains off the december bottom should have been booked in gold stocks, when you saw all those gold stocks gap open up day in day out, while gold was breading out and then sell off the rest of the day.
The rydexers were hugely invested in gold stocks on 12/31 - just slightly less than the late may top, i think the next opportunity in gold stocks will be when people on the boards are not talking about them. |
