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A WALK ON THE WILD SIDE?

January 27, 2005

Like I said yesterday and months before that: The stock market has gotten WAY ahead of itself, and all of the fundamentals are being violated. So what you say?

Well, if you were long the market Monday all was well, and your stock broker’s advice was just peachy-keen! Then came Tuesday and the Dow tanked 93 points. Today the Dow dropped another 142 points. Low and behold the Dow is only up a superstitious 13 points for the whole month that only has two days to go. Will the Dow begin the year down the first month? We’ll know in less than twdays.

But, if you were long GOLD (as I am) the day started with gold closing up $4.50- but then after gold closed- and before the markets closed: BANG! In the after-markets gold is down $6! But don’t worry, the fundamentals for GOLD are FABULOUS.

Ever heard of the G-H (Gold-Hyperinflation) Index? It’s simple. Every 55.8 years gold hits a high. The last few modern times were 1781, 1837, 1893, 1948, and the next one would fall exactly in the 3Q of 2004. Looks to me like the gold train is going to be right on time. The “author” of this Index (Y.T. Wong) expects gold to go from it’s current $410 to more than DOUBLE!

Wanna walk on gold’s wild side? :-)

Written by Ernie · Filed Under Daily Commentary 

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