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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: 4figureau who wrote (2902)	1/24/2003 9:29:43 AM
From: 4figureau	Read Replies (1) \| Respond to of 5423

Buy Gold What's really fascinating is the lack of interest in gold Richard Russell Dow Theory Letters 24 January, 2003 I've been telling subscribers over the last couple of years to buy gold -- gold coins and gold stocks. Gold is the only bull market we've got today, so it makes sense to get into gold, right? In my effort to get my subscribers into gold I even repeated a lesson that I learned years ago. So for the benefit of new subscribers, I'll repeat the "lesson." Many years ago I was talking to a multimillionaire investor who was very prominent on Wall Street. This fellow had just made a killing on a certain trade, and the trade was so successful that it was even written up in Business Week magazine. In the course of our conversation, this fellow said, "Russell, do you know why brokers never make any real money?" I confessed that I didn't know. "The reason," he said, "is that they never believe their own bullshit." In other words, the brokers tell all their customer that "You have to buy stocks, because this is a bull market." But the brokers don't really believe their own words, since the brokers never load up on the stocks themselves. That's a lesson that I never forgot. If you believe it's a bull market, if it acts like a bull market, if stocks are rising bullishly, then believe it -- it's a bull market. And if that's true -- then load up. Go with the flow. The time to make real money is when you load up early in a bull market -- and then ride the bull. Gold Sentiment -- What's really fascinating is the lack of interest in gold. The public seems either oblivious or ignorant of gold. Most people don't even know how to buy it. Coins? "What are they, which ones should I buy, and er, where do you buy them?" Futures -- "I never buy futures or options and wouldn't know how." Gold stocks? "Which ones? They seem too high now, but no, I haven't really kept up with gold." I just spoke to my local coin dealer, a fellow who's been dealing in gold since the early '70s. Russell -- "Leon, any interest in gold?" Leon -- "Very little. A number of calls, but few sales. Actually, it's slowed down over the last few weeks." As I've been saying, this is the early phase of the gold bull market. Gold is still in the accumulation phase. Little interest, much skepticism, institutions not interested -- but gold keeps climbing. Sentiment of "potential" buyers -- "I'd like to buy a little, but I'm waiting for a correction." 321gold.com