He's probably right....OTOH, if we get a major equity melt down, the dirts are gonna go down the tubes with everything else (like in 1987)...long term gold is golden, but we may have some extreme turbulence ahead. The POG may continue to outperform the stocks, at least until the general equities markets bottom (obviously that'll be a ways off in time and price). I've keeping some powder dry, my overall gold allocation is around 18% in stocks and another 10% or so in physical/physical equivalents (CEF). Of course, I am hedging with a bunch of non-gold equity shorts.....<G>
I plan on whacking a basket of I-Nutz on the next bounce, if there is one. EBAY, YHOO, Jeeves and mebbee the 'Scam for some retail "exposure"....
EDIT: One gnawing thought....9/11 occurred after a prolonged period of weakness (about 3 1/2 months or so off of the highs) when the equities markets were oversold and vulnerable. It would not take much to give us that last push over the cliff at this point. The threat of a domestic attack at a mall (this weekend) should not be taken lightly, IMO....I'm not in LA but I'm staying outta malls this week (not that I have any spare change jangling around anyways, after the whacking gold took!<G>)
stockcharts.com[h,a]daclyyay[d20010401,20010930][pb50!b200!f][vc60][iUb14!Li14,3]&pref=G
stockcharts.com[h,a]daclyyay[d20031215,20040430][pb50!b200!f][vc60][iUb14!Li14,3]&pref=G |
