Monday, December 7, 2009

Barrick Gold--Buy it!

ABX has pulled back from 48 to 41 in the last week. They have gotten rid of all their hedges, and with that, comes the requisite article that says they got rid of their hedges at the top.

Oh whatever.

We are in Pollyanna land, and everything is coming up roses from now to the hereafter?

So the dollar had a massive rally--didn't that mean the market was supposed to go to hell in a handbasket? Wasn't the carry trade going to blow up around the globe?

We have hedge funds that have already made their year, and they are sitting on the sidelines, yet we can hardly get this market to come in?

Aren't we in month 9 of this beast?

What is the average duration of a bull market? Isn't is 43 months?

So we are going to puke over here and die?

Give me a break.

Gold is the currency of the disbelievers, and the disbelievers are always in force. Just take a look at the skepticism that meets this market every day!

And take some Barrick while you're at it!

While Wall Street is tying their shoes!

1 comment:

Anonymous said...

where do you see gold heading to?