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Gold and Silver topping?Bob Moriarty Few people will ever tell you this but the people who lost all the money in the 1975-1980 metals bull market were the bulls, not the bears. They made a lot of money on the way up and were terrified of selling. Actually almost none of the gold "advisors" ever told their followers to sell. I'd love to be one of those gold and silver cheerleaders who do nothing more than tell people what they want to hear but I'd rather be right than popular. Those readers who have been around for the last 30 months or so have done well and I will continue to call them as I see them. There have been some good calls and this one is going to be unpopular but I'm going to do it anyway. I don't like the moves I am seeing in gold and silver and they look toppy to me. I expect a spike high in both commodites in the next few days and then a long correction. Even though we have been more or less correcting since the 1st of December, nothing goes straight up for years in a row. 2001 was good, 2002 and 2003 were great. It may well be time for a rest. Personally, I'm going to go to a much more conservative position, higher on cash and in a much smaller number of companies but a higher quality of stock. I still really like Cardero.
It would be a buy and hold if copper was selling for $.70 again.
They have some marvelous projects. No one I know is even smart
enough to put a high side figure on them. They will be drilling
soon. James Dines just discovered them as a iron company and
more writers will be writing about them in the days to come.
I predict they will be the #1 gainer in Canada for the year. Cardero Resource Corp. Vangold Resources
Ltd. New Guinea Gold Bob Moriarty 321gold Inc |
