January Platinum futures have been under considerable pressure lately and are at a pivotal point along its 4-month uptrend line.
Bear Markets always follow Bull markets and a severe stock market correction is long overdue. Bears Lair will spot, monitor and analyze the stock market correction as it develops.
The old game of tossing a hot potato from one to another, because if you held it too long, you'd get burned, applies now. Think about it, and once again compare it to 1924 in Germany, writ much slower.
To warm you up for today's editorial, I'd like to share three of the most powerful quotes I've had the pleasure of reading on the subject of gold and money:
without being elevated very far above the mass of the citizens,
During September we said that gold stocks were likely to experience a sharp correction and nominated the 200-day moving-average for the Amex Gold Bugs Index (HUI) as a reasonable objective for the correction
Question -- What's behind this market advance, Russell? I thought this was a bear market.
The following two Point and Figure Charts demonstrate just how difficult it is to make a definitive call in today's market.
Most investors, and this includes most analysts, just don't know how bear markets work. Either that or they don't want to know.
To Quote Clinton, It depends on what the meaning of…..is." It really does!
A June 1996 high standard deviation preemptive selling episode brought about a downward directional change in the 200-day moving average of gold prices.
The prices of gold and gold mining shares since our last Update continued to consolidate their rapid January to May upward moves.
Two years have passed since the above essay was written and much has happened in the interim; therefore it is time to revisit the essay and update the statistics it contained.
An investment allocation to gold and gold shares makes sense only if one does not expect an imminent return to the investment world of the 1990's.
December gold has arrived at another one of the tell-tale crossroads and will be forced to make a decision early this week as to whether to continue onward with its 2-day rally or reverse sharply beneath the
In short, the economy seems unlikely to grow strongly from this point.
"These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again."- John D.
The Euro has been essentially range-bound versus the dollar for the past four months, with the Euro's upside capped at the parity level and its downside checked around the U.S.$/E 0.96 level.
Wouldn't it be nice if you were able to spend the amount of money you HOPED to make in the stock market, rather than the amount you actually make?
My contribution rate at GOLD-EAGLE.com has slowed up considerably of late as a result of being somewhat exhausted in terms of gold and silver content.
Did the gold charts betray us? The short term trend was supposed to be up. All the technical signals were bullish. What happened?
"There is no remedy for a people who desire to be rich", said the wise man. Surely these words will be the epitaph for the lunatic American stock market.
GOLD - I'm going to start this Letter with two very important charts. The first is a Point & Figure chart of gold going back to 1999.