I’ve written many times about the foolishness of trying to time a market. The wisdom I’ve learned from Doug Casey and others is to focus on buying value while it’s on sale, despite negative market sentiment, in order to “buy low and sell high.” In other words, the need to be a contrarian in order to be a successful speculator.
But at some point in the development of a trend, you have to make a call, and the later you do so, the less valuable the call. There was not much use in saying in mid-2009 that our market had bottomed in late 2008, when that was clear to all.
And I have to say that it “feels” like December 2008 to me, the month I made some of my most profitable stock picks ever.
So, while it’s not possible to prove that the bottom for gold is in, I’m willing to go on the record saying that I’m now convinced it is.
Whether I’m right or not doesn’t actually matter; it’s more important to focus on buying quality, undervalued stocks than to worry about the possibility of one more leg down before gold really breaks out upwards.
That said, I’d be embarrassed to end up in the chorus of “me too” analysts proclaiming the return of the golden bull months after it’s obvious to everyone. So, here we are—I’m putting my stake in the ground.
While my view is certainly contrary to the mainstream, I’m not alone. Sharing my view are several of the presenters in our Upturn Millionaires broadcast, coming up in just two days. If you have not signed up for that, I urge you to do so now, as it’s going to be a great show, full of insight and action-enabling information that I’m confident will lead to extraordinary profits in the not-too-distant future.
To whet your appetite—and make a very compelling case that confirms my gut feeling about the gold market—Casey Research Chief Economist Bud Conrad has written a great article below. I hope you’ll give his reasoning careful thought, and join us Wednesday for our Upturn Millionaires broadcast.
Senior Metals Investment Strategist
|Rock & Stock Stats||
One Month Ago
One Year Ago
|Gold Producers (GDX)||23.48||21.13||41.62|
|Gold Junior Stocks (GDXJ)||35.39||31.05||75.60|
|Silver Stocks (SIL)||12.04||11.20||20.68|
|TSX (Toronto Stock Exchange)||13.694.94||13,621.55||12,685.24|