Gold Crashes, What’s Next?
As I’ve been warning for some time now, gold was lining up for a big correction. One of the hardest things to do in investing is to reconcile current events with market movements. The average investor sees that economic news is going from bad to worse and just assumes that gold should rise and stocks should fall. If investing were this easy, the average third grader would be profitable.
I am getting excited because this is the fakeout move in gold I’ve been talking about. Now I don’t mean that the correction is over; most likely it isn’t. But these are the type of monster corrections in gold that gets everyone questioning the bull market. I want to hear everyone talking about King Dollar and King Treasuries- this is music to my ears. Gold is probably going to correct further and consolidate from here. But following this correction, it will be your last great opportunity to buy.
Always be wary of market forecasters who only play one side. Some gold bugs are forever bullish and never foresee a correction. Deflationists are forever bearish and missed out on a decade-long bull market. At the end of the day, it is the rational, unbiased observer that makes the most money. The people who stubbornly cling to one view of the market are going to get crushed in the next couple of years.
Everyone needs to realize that even if gold corrected to $1400, the bull market is intact. We’ve seen 50% corrections in gold during bull markets before, so this correction is not that big of a deal. The big picture hasn’t changed at all. The smart money is going to be buy into this correction, and a huge rally will probably arrive some time in 2012. This is the setup I’ve been talking about. Overcome your emotions and take advantage of it.
Gold Crashes, What’s Next? is a post from: Expected Returns
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Whistler Blowers, Insiders
Gold crashes!
Not really, the dollar stabilized a wee bit. Look on the horizon, do you see a 20 Trillion dollar US debt?
Gold is taking a breather, that’s all.