COMMENT: Well, the goldbugs are wrong again. This claim that the stock market must crash and only gold will rise is as you say sophistry. It looks like gold and the Dow are rallying together. I can see how they are just promoting a cult-like agenda.
Thanks for being objective
MH
REPLY: We became the biggest institutional adviser because there was never an agenda. Everything goes up, and everything comes down. There is an old saying among actual traders – NEVER marry the trade. I buy gold personally. I just bought a hoard of $20 gold pieces all uncirculated and all dated 1924. I do not regard it as a trade, just a stash for the long-term. It will go up and go down. Do not pretend that something only goes in one direction.
Here is a chart from Socrates on the Quarterly Level of the Dow/Gold Ratio. Anyone who only forecasts a single direction is NOT an analyst – they are a promoter like a used car salesman. No matter what we look at, there is a time to buy and a time to sell. EVERY market functions that was.
Here is an advertisement from April 9th, 1930 pitching Bank Stocks. Brokers were telling people to buy all the way down, average in, but it took 26 years for the Dow to reach the 1929 high again. Anyone selling any product will ALWAYS tell you to BUY. That is their business. It is up to you to come to terms with how ALL markets really move. Hence, there is always a TIME TO BUY just as there is a TIME TO SELL.
