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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: TH who wrote (1606)	5/17/2006 12:34:33 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 50730

re: ["The real question is, at what price for POG will you admit that gold has been a good investment?"] Quite obviously...gold has had a tremendous run and has been a great investment. I paid my dues as a card-carrying true believer by having my sanity doubted when I made the leap from "black" to yellow gold...and pounded the drum nearly alone back in late 2000. This is my favorite chart -- it sends many messages and has taught many lessons: finance.yahoo.com Gold has shown it's true believers both the best of times and the worst of times: It wasn't the "best of times" during either of the near 100 point HUI Index death march capitulations - of 2004, or 2005. It wasn't the "best of times" for nearly 20+ years after the last parabolic/speculative run it had -- back in 1980. I like Gold when it outshines it's other metallic brethern -- and of late it has NOT done that. I like Gold when it's cheap, or when it's at a discrepancy between price and risk...and presently it fulfills neither criteria. And I like Gold most of all -- when everyone else hates it. Presently,,, nearly all of it's former "haters" -- now love it. And that is NEVER a good thing. Gold has attracted everyone from the proverbial "shoeshine boy" to the racetrack handicapper and the casino craps player...and that's never a good thing. When all the spotlights are shining brightly upon the same star...another lies hidden in the shadows...cheaper and often ready to launch higher and brighter. Doyle Brunson was right...play the players -- not the cards. The game may change, but the rules of human emotion, psychology and behavior never will... It's all about extroidinary popular delusions and the madness of crowds... Always has been -- always will be. From the Dutch Tulip Mania of 1635, to the Tech & Internet Bubble 365 years later... Markets change...but, people never do. Play the People... not the Cards. Trade the Traders... not the stocks. later, SOTB