Top 11 signs of a gold market top for Gold Bugs
11
The Baltimore Ravens play in GoldCorp Stadium and the Houston Astros play their games at Pan-American Silver Field.
10
Gold company CEOs become the object of intense media scrutiny and appear in revealing clothing on the cover of magazines like GQ, Details, Esquire, People, and Vanity Fair.
9
Dozens of new precious metals mutual funds are launched. Funds become increasingly specialized - "Large Cap Gold Value Fund", "Gold Exploration Fund", "Mid Cap Gold Producer Fund", "South African Gold Fund", etc. These funds can be purchased in corporate 401(k) plans. The fund managers are frequent guests on CNBC.
8
Microsoft announces plans to enter the gold mining business
7
People start bragging at cocktail parties about how they bought Harmony at $4 (that's pre-split mind you) or Franco-Nevada before the merger. Your friends, who you couldn't interest in a non-tech stock a year ago, even if you beat them with a large stick, start offering you tips on the best gold stocks to own.
6
Newmont buys CNBC. [Ed Bugos came up with this one.]
5
Wall Street sell-side firms hire super-star analysts to tout their top gold stock picks. These analysts appear frequently on CNBC. These analysts rate the new IPOs in a range from "probably should by" to "definitely should buy right now."
4
There is a flood of IPOs of small gold exploration companies, most of them thinly capitalized, with no geological expertise, and with no prospect of finding anything. These small gold companies become known for their lavish parties at which gold jewelry is handed out as party favors.
3
A slew of new magazines are launched called Gold Herring, The Gold Standard, Hard Money, and Worth [Its Weight] to cover the gold mining industry.
2
Smart Money, Worth, Kiplinger's, and other personal finance magazines start running stories on "The Top 10 Gold Stocks to Own for the Coming Year." Business Week runs a story called "The DOW: Will it Ever Come Back?"
1
The gold price and the XAU are quoted hourly on business radio news segments displacing the NASDAQ |
