GDX - Chart Link - remember doesn't pay to
be a 'bug' trade objectively not your bias where you believe in
gold and area always long. Too many bugs broke now, when this
area is finally rinsed out and the 'bugs' have to get part time
jobs at Home Depot, then it will bottom LOL
Does the same fate await the Appleonians, Amazonians and
Googlites one day in the future? After all, they suffer from
a similar dogmatic loyalty, only on steroids...believing these
companies can never do wrong...ever? That day of reckoning,
if it ever comes, will make the gold bugs decline pale by
comparison.
With Bitcoin on the scene and the "new guy" maybe Greenspans
"old relic" comment does stand finally. Its a clumpy material,
costs money to store it, earns no income.
The lure and perception of gold is clearly in decline and has
been since the 1970s, and if investors were to lose faith then it
would go all the way back down to levels seen in 2000 when the UK
Govt sold their gold.
Gold is supposed to be a safe haven, and many use it as so. God
bugs are the eternal hope traders.
And yet these gold bugs play the sector by buying gold shares
and will invariably lose their entire life savings and hard work.
These things are toxic.
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GDX
Posted by matt on 7th of Aug 2018 at 02:37 pm
GDX - Chart Link - remember doesn't pay to be a 'bug' trade objectively not your bias where you believe in gold and area always long. Too many bugs broke now, when this area is finally rinsed out and the 'bugs' have to get part time jobs at Home Depot, then it will bottom LOL
GDX - Chart Link - weekly
personally I'm loving the rinse, once it's done will be an opportunity
Does the same fate await
Posted by RichieD on 7th of Aug 2018 at 08:58 pm
Does the same fate await the Appleonians, Amazonians and Googlites one day in the future? After all, they suffer from a similar dogmatic loyalty, only on steroids...believing these companies can never do wrong...ever? That day of reckoning, if it ever comes, will make the gold bugs decline pale by comparison.
With Bitcoin on the scene
Posted by torvix on 7th of Aug 2018 at 09:02 pm
With Bitcoin on the scene and the "new guy" maybe Greenspans "old relic" comment does stand finally. Its a clumpy material, costs money to store it, earns no income.
The lure and perception of gold is clearly in decline and has been since the 1970s, and if investors were to lose faith then it would go all the way back down to levels seen in 2000 when the UK Govt sold their gold.
Knowing when the rinse is
Posted by jimsim on 7th of Aug 2018 at 03:10 pm
Knowing when the rinse is "done" will be the challenge. Lots of failed "it's done" opportunities over the past couple of years.
Gold is supposed to be
Posted by torvix on 7th of Aug 2018 at 08:54 pm
Gold is supposed to be a safe haven, and many use it as so. God bugs are the eternal hope traders.
And yet these gold bugs play the sector by buying gold shares and will invariably lose their entire life savings and hard work. These things are toxic.