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4/16/08

A word on gold

Looking good this morning, folks.

Other people will tell you all about fibonacci ratios and RSIs and stuff that makes me start scratching my head. I just see gold lagging other ways of hedging versus the USD right now. As much as the greenback has sunk already, the only reason dollar bulls have come up with so far to say that USD will rise is that "it's low right now".

The world of losing investments is full of statements like that. GIVE ME A FUNDAMENTALLY SOUND REASON TO BUY THE DOLLAR, AND I WILL. Until then I will continue to protect myself. This is not a moment to go for big gains...this phase of the stock market cycle is all about keeping your powder dry so that when the opportunity comes you'll be able to make good money (and not just get back to the point you found yourself at 2 years ago).

Buy gold, people. Be sensible.

Meanwhile, Dr. Copper has decided to make me look silly and popped to $4.02...I'll be watching that one carefully. Time to trade a bit of PCU? It could well be. Here's a good quote from JM Keynes:

"There is no harm in being sometimes wrong - especially if one is promptly found out."