Whow! Goldbugs!... wake up! we are in business today! ALTA could do very well today (up 14% for example, would fit me)... not talking about FSAGX and FDPMX... Those will add probably another 5% today. We are beating SP500 hands down, for a change.
Here is what has happened and what is happening:
ú Asia buys overnight its own equities because its stockmarket has been beaten up AND because the mighty dollars is no longer mighty
ú Europe wobbles this morning because its one equity market is on the high side. So what do they do..
ú Europeans buy some gold and POG is going up in London, real good !
ú In Paris, Driefoutein (South African gold mine) opens 8.5% up !
ú SP futures, at this time, are suggesting a weak opening in wall street
Europeans treat themselves with gold, as predicted. They remember the depression as well as the americans,... BUT they then added tons more to their losses with world war II which destroyed many of their countries. Europeans will be key here. They are possibly going to show up to their government that selling gold was not a good idea after all. Regular european citizens will start buying real gold for themselves as well. And that is the beginning. Congratulation, Mrs. Cheryl Strauss Einhorn... Your editorial in BARRONS's this weekend was right on <gggg> with your very balanced reporting<gggg>: what a shame! You prevented many to make quick bucks this week, it looks like. Next time: give us your OWN opinion and the view of goldbugs. Thank you.
Good luck all. Beware to not load up too much now on the way up, because if the run is too brisk, some retraction will happen. Therefore I would load up what you are confortable with, and review your other equities, selling possibly some with limit orders rather than panic selling (they say: sell your loosers). But then again, I am new at investing. Just guessing. This gold run could be the big one,... no one knows for sure. Not me, for sure!
Gaston |
