I'm still very busy, but will make a quick comment on how crazy bull markets are.
Gold has just set an all-time record high price two days in a row. However, in both cases, it pulled back after setting a new record high - today, sharply.
How have gold mining stocks responded? Yesterday they climbed modestly - that was underwhelming.Today they are down sharply, to a lower level than where they started yesterday.
Does this look like a top in a bull market?The answer: Not hardly!
Bull markets top out with over-enthusiasm (which leads to exhaustion), not fear.
I'm sorry, but this fear is excessive in response to such obvious signs of strength in the gold bull market.
Bull markets are maddening - but this crazy and irrational stuff is what they do. We are still climbing a wall of worry.
But take my word for it. Don't fight the bull market!Where are we now? Once again - and we've been here many times before - we're cleaning out the "premature eradicators." This stage involves brief but sharp drops as nervous holders of gold and gold equities "abandon ship," in this case, as the port is in sight! Today's sellers are simply selling too soon....
Gold's new record highs are a sign of strength, not weakness. This is hardly the time to be selling gold OR gold stocks!!!_
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