"The question is not why is gold still down. The question is why are all metals down. I think when you look at it that way the answer is pretty clear. The cycle has run its course." - ENDQUOTE
Ummm, I beg to differ...
First off, I have read this kind of analysis for several years now, and too many other intelligent people have been eager to explain to me how the chart says its all over, the commodities have peaked, gold is dead, etc, etc, etc... Been there, done that. Do you guys all work from the same program, or what?
Secondly, I would suggest that after a prolonged 25 year bear market in the case of gold, that it will take more than a 4-year rally to work through the fundamental deficits in gold production that resulted. We have yet to surpass the old highs, and on an inflation adjusted basis, have not even come close. This bull market has a long way to go yet, and as long as I continue to read so many experts that want to tell me its all over, then I know its not the time to be selling. In fact, when every bozo is fighting to get into the gold and commodities stories, and when the chat forums are all about bullish projections to the moon, then I will know its time to fold the tent and move to the sidelines. Right now, this is not even the end of the beginning.
cheers!
COACH247 |
