Pardon the rudeness, but Im salivating at the maw this morning. After a rocky charge to 2011, it looks like I might finally procure my opportunity to buy more gold investmentsand it could materialize to.
Gold Investing: The Time to Jump Back in Is Very Near
Pardon the rudeness, but Im salivating at the ingress this morning. After a rocky start to 2011, it looks like I might finally earn my opportunity to buy fresh gold investmentsand it could chance today
On January 4, 2011, gold bullion fell $44.10 U.S per ounce The next day, January 5, 2011, it fell another $5.10 an ounce This morning, as I write this family of PROFIT CONFIDENTIAL, gold bullion is down another $9.90 an ounce In three trading days, we are looking at a $59.00-an-ounce haircut for gold bullion
In behind 2010, on these pages, I wrote that I would be a buyer of gold-related investments if gold bullion reached $1,370 U.S per ounce The payment of gold bullion reached a register colossal of $1,421 an ounce on November 9, 2010, followed by $1,421.60 per ounce on December 31, 2010. At todays price, I can buy gold investments at $5000 an ounce off the register high, which I consider a deal
So my first tread leave be to buy further gold investments today if gold remains unbefitting $1,370 an ounce. My succeeding hike consign be to buy additional gold investments if gold gets down to $1,320 (which is a seven-percent correction off its high) Hence, Im buying gold investments on dips on the prices of gold bullion Unlike many additional advisors, I see corrections in the cost of gold as an opportunity to buy, not bail This strategy has served me well for midpoint 10 years now
My gold bug readers may find the later chart interesting It is the familiar of the fee of gold bullion at December 31 each year going back to 2002 (the year I really tainted bullish on gold). I communicate this chart in January of each year for the interest of my readers
DateClosing Price of GoldBullion per OunceDec 31, 2002$348.00Dec 31, 2003$416.00Dec 31, 2004$438.00Dec 31, 2005$519.00Dec 31, 2006$638.00Dec 31, 2007$838.00Dec 31, 2008$889.00Dec. 31, 2009$1,097Dec 31, 2010$1,421
In this business, they chatter Dont fight the tape, further proclaimed as The trend is your companion The above trend has been an investors reverie for almost 10 years running. I intend to maintain profiting from the trend of rising gold prices
Michaels Personal Notes:
Investors often ask me what news sources I follow each day to retain up the bovines market Do I monitoring the business TV stations like CNBC or Bloomberg or listen to them on the Internet or in the car? The key is no, I do not befall the investment information on an hourly or even daily basis
Why? Because a trend takes point to grow Sure, I chance the economic message closely I peruse three major job newspaper a day and I own my favorite Internet sites (like everyone else) to attain more in-depth economic reports But follow the markets on an hourly or even daily basis and you are no longer an investor; you are a trader
The events that led to the legitimate estate crash of 2007 took years to grow Similarly, the events that led to the bays crisis of 2008 took three years to mature The cattle hawk low of March 2009? Well, that took two years to develop
Stock sell and commodity trends bear months and years to mature What happens hourly, daily or even weekly does not vanguard to a sustainable trend an tycoon can advantage from. Ive always made cash looking at the overall, longer-term trend actions of the economy and how they recite to the cows doorstep In additional words, I dont sweat the trivial hourly, daily or weekly stuff Neither should my readers
Where the Market Stands; Where its Headed:
Yesterday, I blew the horn on the doorstep and announced that Im turning bearish on stocks as we beginning off 2011. A troupe of passion indicators we happen are flashing red, as too many investors and advisors own bad bullish on the livestock peddle If it were not for the outright expansive and unheard-of cordial pecuniary and monetary inspiration the government has in place, I would be outright bearish
But the trend is your friend. Since March of 2009, I have been epigram that we are in a manage doorstep rally, and I keep to embrace that concept Until we hold confirmation by the cattle tout to the contrary, and aside from the fact that Im turning short-term bearish on the cattle market, in the immediate term, the bear tout organize that started 22 months ago stagnant has life left in it But investors should step carefully.
What He Said:
When property prices onslaught coming down in North America, it wont be a pretty sight, because consumers are too leveraged When consumers own over-borrowed so much that they keep no other room in their trophies lines to borrow more, when institutions onset to procure stretched on lending, demand for housing bequeath reject and so bequeath prices Its only a matter of logic, fact and time. Michael Lombardi in PROFIT CONFIDENTIAL, June 23, 2005. Michael started warning about the crisis coming in the US veritable estate sell right at the elite of the boom, now widely believed to be 2005.
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