Frank,
I'm in agreement with Joe on gold stocks, I'm not sure about 1929, though maybe the late 30's would be a good analogy in my view, my bearish outlook is not as certain.
I especially agree on a pullback in golds, I would expect it to come directly before a big rise in POG, something to leave traders in the dust, like a 25 buck move in a day. Such stop running anti daytrader stuff is what the gold stock specialists/market makers thrive on. Hence short term trading is not where it's at in this pm market and I am doing my best to re-educate myself to longer term holds.
When we see the neighbors running their silverware and granny's tea service to cash in, we'll know it's high time to go!
(Already saw that happen once, makes me feel ancient!)
I also agree on NEM, which could be a monster stock if gold gets over 350.
Here's a good link on gold (for old gold timers and nubies)
from craig crawfords thread:
murphymorris.com
Congrats on your AAA Canuck Credit Rating, now where's my Canadian inflation calculator!
ggg
[Edit, take your time on the calculator, I've got yard work to do and a pool to open, so I've got to unplug.
No more snow here, though we had light frost this morning. But last weekend there was an F1 tornado nearby last weekend. Not too far from that F5 in Maryland either. Unusual to have rated tornadoes in our area, but it certainly resupplied my wood stack for next winter already!]
Roebear |
