Yogi,
That's one point I have to agree with, gold is on life support. However, Alan apparently can only control some of the time, note the performance of gold
(represented by gold equities in XAU) from mid 93 till the beginning of 97.
bigcharts.com
That is a long period to be out of control, the XAU was well above a 100 most of that time frame, making most XAU components a double plus from current
levels. Will it happen again?? What precipitated it the first time. Was it a combination of things such as Soros putting the screws to the pound in 92? Does
Wolanchuk (sp?) forecast for the C dollar indicate something similar in the future or the large amount of money going into circulation, the trade deficit, etc etc yadda
yadda.
Well, I believe it enough to put some of that NEM I pick up at the "Quarterly Bottom Pickers Golden Blue Light Specials Rack" aside for long term. Just look at that nice
bottom on the MACD on that ten year chart.
Of course if Gold is Dead than that could be the ceiling of the crypt for that part of my portfolio, yet I remember well when they said equities were dead circa
1981-1982? Wasn't that the time to buy, yes indeed.
Good luck all,
Roebear
Edit, Look at the XAU range for this year, no need to wait to make a double, if you can tape read the yeller junk. |
