What You Won't Hear From The Looney Bogus Gold Quacks
The US Dollar experienced a major breakout in August, see annotated chart one at http://www.joefrocks.com/GoldStockCharts.html.
The US Dollar probably entered a Cyclical Bull Market on 3-17-08, the same day that gold/HUI probably entered a Wave 2 Cyclical Bear Market.
Gold's down -$43.60 right now, despite the uncertainty concerning the bailout. Not exactly a safe haven. Gold fell nearly -30% from 3-17-08 until 9-11-08, despite the credit crisis.
Gold IS a safe haven from inflationary rising interest rate economic upcycles, such as the easy credit/mortgage real estate and consumer boom (credit binge) from 2002 until 2006, NOT the diametric opposite situation we find ourselves in now. Ignore the quacks.
.......http://www.JoeFRocks.com/
NEM XAU HUI
The US Dollar probably entered a Cyclical Bull Market on 3-17-08, the same day that gold/HUI probably entered a Wave 2 Cyclical Bear Market.
Gold's down -$43.60 right now, despite the uncertainty concerning the bailout. Not exactly a safe haven. Gold fell nearly -30% from 3-17-08 until 9-11-08, despite the credit crisis.
Gold IS a safe haven from inflationary rising interest rate economic upcycles, such as the easy credit/mortgage real estate and consumer boom (credit binge) from 2002 until 2006, NOT the diametric opposite situation we find ourselves in now. Ignore the quacks.
.......http://www.JoeFRocks.com/
NEM XAU HUI
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, SPX, XAU
posted by Joe Ferrazzano at
11:15 AM
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