Don't you get it? The public is SELLING their Gold. Thats not a bubble. Man... you are way off dude!
When the public starts lining up and BUYING Gold, the price will go parabolic and that is when you should be a contrarian by selling. How in the hell are you being a contrarian when you are bearish on Gold and the public is also bearish by selling? Selling Gold to pawnbrokers, shorting Gold due to deflation... that is so Prechter/Shilling/Rosenberg consensus. These guys might get something right... eventually!
In the 1960s and 1970s, the Gold bull market went up 28.33 times... once more... 28.33 times. You are failing to listen man. Once more.... 28 times!!! Gold went from $30 to $850 in 1980!
Currently Gold has gone up 6.4 times in a decade. That is not a bubble. There will be a correction... but when public starts BUYING and not SELLING Gold, then we might see it go up 28 times from the $250 to $7000 by the end of the decade!
Just like Gold in the 60s and 70s, did you know that Nasdaq went up 25 times from 90s to 2000?
These secular bull markets last for a long time and they turn into a bubble at the end, so we still got a long way to go. You better buy yourself some Gold (on a pullback of course) and some Silver and hold it for a long time. You will very rich if you do!
Note that I didn't make any specific comment what this meant as I'm not sure how to interpret these "we buy gold" ads.
Also remember that I do own a whole lot of gold (and silver to a lesser extent) in a safe. I am not intending to sell at whatever price (well, we'll see about that one!) and keep it as an insurance against Armageddon if I survive the first few weeks/months.
But one thing is sure: they're not buying it to store it in a safe for their old days. They are buying to sell to the crazy buyers. And if they end up making such communication campaign, it means they have lots of buyers and not enough supply...
2 comments:
Don't you get it? The public is SELLING their Gold. Thats not a bubble. Man... you are way off dude!
When the public starts lining up and BUYING Gold, the price will go parabolic and that is when you should be a contrarian by selling. How in the hell are you being a contrarian when you are bearish on Gold and the public is also bearish by selling? Selling Gold to pawnbrokers, shorting Gold due to deflation... that is so Prechter/Shilling/Rosenberg consensus. These guys might get something right... eventually!
In the 1960s and 1970s, the Gold bull market went up 28.33 times... once more... 28.33 times. You are failing to listen man. Once more.... 28 times!!! Gold went from $30 to $850 in 1980!
Currently Gold has gone up 6.4 times in a decade. That is not a bubble. There will be a correction... but when public starts BUYING and not SELLING Gold, then we might see it go up 28 times from the $250 to $7000 by the end of the decade!
Just like Gold in the 60s and 70s, did you know that Nasdaq went up 25 times from 90s to 2000?
These secular bull markets last for a long time and they turn into a bubble at the end, so we still got a long way to go. You better buy yourself some Gold (on a pullback of course) and some Silver and hold it for a long time. You will very rich if you do!
Note that I didn't make any specific comment what this meant as I'm not sure how to interpret these "we buy gold" ads.
Also remember that I do own a whole lot of gold (and silver to a lesser extent) in a safe. I am not intending to sell at whatever price (well, we'll see about that one!) and keep it as an insurance against Armageddon if I survive the first few weeks/months.
But one thing is sure: they're not buying it to store it in a safe for their old days. They are buying to sell to the crazy buyers. And if they end up making such communication campaign, it means they have lots of buyers and not enough supply...
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