Lesson #1,796,845 about how you have caution at least and run for the hills at most when the gold bug promoters school the public about how right they are and hold up stupid events like Buffett’s purchase of Barrick Gold at the damn top as validation.
I make some people uncomfortable by criticizing promotional people and entities out there. But it’s part of my market management to have a handle on sentiment and psychology. When gold promoters pump vigorously, the fact is that much more often than not bad things are visited upon poor little Goldbugville.
Fear not though; this inevitably brings opportunity. But you’ve got to be ready for it to catch it.
Gold/SPX (daily) shows the 10 month long ignominy up close.
Gold/SPX (weekly) shows the ignominy from afar.
That is all…
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