Is it safe to crawl out of the Volcano yet (vbg) ?
Absence makes the heart grow fonder ~ or so the saying goes....
Well let's see:
1. The World hasn't come to an end.
2. The Global Financial Markets haven't imploded.
3. The Post-Rubinite "fixed" King USD Bubble has by Policy (as some said it would be) - had it's descent managed, but isn't being used as wall, or toilet paper quite yet.
...and most importantly; Gold Stocks (HUI/XAU) haven't made any "significant" New Highs (3/4 tick's is NOT significant) since the initial broach of HUI 150 back in May 2002....and that's 14 months ago folks...which in my book; pretty much qualifies as DEADMONEY.
What I still see in the HUI chart is a broad head & shoulders top forming (now a triple top) - very remeniscent of the prior OSX cycles.
If the madness of crowds holds true (and it always does)... the first 2 tops are usually very tradeable on a risk vs reward basis and the 3rd is the final curtain/trap door for the bulk of greedy, wistfull investors.
Another point; is that the DOW, the S&P and especially the Nasdq have outperformed the Gold Stocks since the first of this year - a fact that seems to have escaped many....which I find a bit ironic; given so many here were so emotional over the call by "some" here... that the Big & Easy Money in Ole' Yeller had already been made and that contrary to the Volcano Worshipers and their Chicken Little Pronouncments... Elvis had indeed left the building...yes, he was dressed in yellow the last time he was spotted, but nonetheless, he has left the building...
So it was written.... so it was done.
No USD crash.
No Economic Crisis.
No Market Meltdown.
No End of the World.
No significant new highs for the Gold Bull.
But...on the other hand - not a lot of "value" in the broad indices...( I think fair value is around DOW 7250-7750 fwiw) and thus I see more trading shorts than longs there ...and there is STILL nothing on a High Reward - Low Risk/Portfolio Weighted Basis that attracts me....so I will remain patient, loaded with both Hubris & Cash and more invested in the "real world" than in the paper markets.
Kudo's to many here that have taken & traded upon what the market has given...but, I must have missed what the Gold Perma-Bull's are STILL encouraged by ?
Praytell - what do they still be seeing (VBG) !?!?!?!
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PIGS GET FAT & HOGS GET SLAUGHTERED ~ ALLWAYS BEAT THE CROWD TO THE PARTY....BUT, NEVER, NEVER, EVER ! - BE CAUGHT STILL HANGING AROUND AT LAST CALL !
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