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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Silver Super Bull who wrote (9693)	4/14/2003 6:17:22 AM
From: crustyoldprospector	Respond to of 39344

Hi Deadbull, Yes, you are correct that gold stocks performed to the upside during the 9-11 "panic". However, I question whether the psychology of that panic was similar to the others. Hence, out of caution I keep an eye out for potential downdrafts, knowing that gold stocks are no safe haven during such an event. Also, with regards to last summer, the correction in gold stocks seemed fairly moderate until the general market took a dive. So at that point, it was not a "deep" correction. Maybe the depth was in part related to the general panic? You are right that gold normally runs counter to the general market. However, IMO, the driver behind a panic is to get out of financial paper, regardless of fundamentals or other considerations. That is why gold stocks (not the metal) go down with all other stocks. I don't mean to diminish your comments, and thanks for bringing up you well-considered points. I simply take this opportunity to mention again, gold stocks are no "safe haven" during a general stock panic. It does provide an excellent buying opportunity, however! Regards, crusty