Here ya go...
murphymorris.com
GOLD STOCKS SHINE... If you check the Performance Charts on our main menu, you'll see that the strongest stock group for the past week, month, and year are the gold stocks. Yet, no one seems to taking them seriously. We think that's a mistake. We showed the Gold (XAU) index today hitting the highest level since last spring. That chart was a little deceiving since it made it look like the XAU was expensive. Hopefully, the monthly chart shown below will dispel that view. The XAU has broken a six-year down trendline. A close over the spring high would confirm a major turn to the upside. The 14-week RSI has moved over 50, which is a sign of new strength. The MACD lines have been positive for the last year. We continue to advocate use of a gold mutual fund as the easiest way to participate. But we do think you should be participating. Stocks don't look great now; neither do bonds; money market funds are paying 2%; for the first time in years, gold stocks are providing a good alternative. [The Japanese Topix Index hit a new 17-month low today -- and the yen remains weak. It's believed that a lot of the gold buying is coming out of Japan. The fact that the Japanese are picking gold shows that they're not too sanguine on anything else].
Regards,
Peter
edit: sorry 4texas... I c that u beat me to it <ggg>
Luv this quote by Murphy..."If you check the Performance Charts on our main menu, you'll see that the strongest stock group for the past week, month, and year are the gold stocks. Yet, no one seems to taking them seriously. We think that's a mistake."
I like to repeat myself |
