George, plain and simple there is very little buying activity in the equity market and thus with the market based on supply and demand stock prices have been tumbling. This should be leading to a near term capitulation. I would not be surprised to see some spark in the next couple of sessions. But staying power is the real question.
As for Kaplan, I bought PDG, ABX and HGMCY a lot lower than he did. Actually, I may have called the low on NEM, ABX, PDG and the XAU at that precise moment on the day NEM spiked below its August 31, 1998 low.
Gold Shares are moving much higher, along with the POG, between now and next spring. I'm not sure what tomorrow will bring but I'm in for the ride up. The ride up, I think, will surprise most people, given the severity of the hard landing that is coming and the universal doom and gloom that is prevalent in the gold market. Let's not underestimate the degree and power of the rally that is coming in Gold shares. It has been a while since this country has seen a recession.
"What comes around goes around." Let's enjoy the ride up. It is long overdue. |
