---AN INTERESTING POST FROM ANOTHER FORUM ---
A LONG WAY TO GO BETWEEN HER E & HAPPINESS........
BUT (richard640)Apr 15, 17:30 June crude touched $17 intra-day;XAU up
4.49;AND THE XOI-OIL INDEX-UP A BIG 18.6 points!!!
I'll take it! Happy
though I am, I ain't poppin any champagne corks or ordering any Rolls
Royces until I see gold close over $425 an oz. from whence there exists no chart resistance until $500 an oz. When gold hits $400 an oz., I'll sip a thimble full of Green Chartreuse or quaff a flagon of Old Peculiar....but no baloons and confetti. Ever hopeful, I've seen too many of these little false alarms to start assigning predictive value to them. None-the-less, i'm prepared...bristling with gold calls, ready for any eventality.
If this is the start of a bull mkt. in gold, this is how it would start...out of the blue, for "no reason", in disbelief by the majority, and with the fewest # of passengers on board. To my great satisfaction, i spent a half hour with a friend yesterday, trying to convince him to have some gold exposure. I used logic. I waxed eloquent!! But to no avail! Goody....he is everyman...a bull mkt.can only start with this kind of disbelief. As I was leaving, he shame facedly confessed that he blundered in at the top in 1980, bought gold shares and lost all. I told him that your present psychology towards gold is the opposite of what it was in 1980. When your hands are trembling as they pick up the phone to call your broker, THAT is the time to act!!! |
