Wednesday, May 12, 2010

Here it is, phase II of the precious metals boom....

No Surprise - Gold Breaks Out To New All Time Highs!
I gave out good advice, and some of us put our money where our mouth is.  It isn't too late if you haven't yet done so.

"It is funny watching other news commentaries on why gold is up today. Do you want to know why it is up today? Quite simply it is a bull market, that is why. Stage II of bull markets produce strong steady gains and that is exactly what we are seeing so it is no surprise to market veterans like Jim Sinclair, Eric Sprott, Richard Russell or John Hathaway to see new highs.

"When you are bearish in a bull market life is tough and you miss many opportunities. You will be on the sidelines on days like today and it will leave you feeling sick. What do you do now? Do you start to buy now? The answer is that you should never lose your position in a bull market. They are sneaky and can run away from you in a heartbeat.

"Gold is up over $30 today hitting $1,235.00 spot and silver is up 90 cents to $19.40 spot. Investors who have been patient and have not lost their positions are feeling redeemed. Somehow all of the suffering seems worth it on a day like today. For the bears, well they will just say that silver and the HUI have not confirmed...That may help them psychologically, but not on their P&L."

"Men who can be both right and sit tight are uncommon."
It isn't too late to jump on the train!  This one will be a wild ride upwards!  All the fundamentals from about a dozen or so key drivers are in total agreement on that!
And who doesn't want tax free profits?
No tax to pay, no forms to fill out.  Just take your metal to the market online or directly to a coin dealer and that is the end of the story.  For larger holdings, insure your freight to a mint, like Perth Mint.  No tax, no questions, just a trade.  This is really the case, ongoing now for many decades like that.
Now is a good time to understand how to take advantage of this massive shift away from trust in paper, towards the tangible stuff.  The age of the commodity is here / has returned.  That is what the markets are screaming about right now, increasingly so.
Cheers, Tate

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