Gold Stock
Alert:
We are in a Gold Bull
Market
Bob Moriarty
December 9, 2002
I began warning
of an impending decline in the stock market and a gold stock
correction about the 20th of September. I may have missed
the top
but not by more than a few
days.
And on the 14th of October, I suggested that it was once again
safe to be buying gold stocks. Again, I
didn't miss the bottom by more than a few
days.
Sometimes I
am not clear in what I say. It's entirely possible that if you
have been coming to this site for 16 months that you have missed
my primary message. If so, I'll repeat myself.
WE
ARE IN A GOLD BULL MARKET That's about
all you need to know about investing today. The Federal Reserve
has declared war on the dollar and if there's any significant
manipulation going on, it's manipulation of the dollar over a
cliff. If you have been engrossed with what is going on over
on the tech stock side, forget them, they are about to do another
run to the bottom. Another bottom and then another and then another.
That's going to go on for years. But on the gold side, we are
in a bull market and it's going to last for years.
Gold has made
a lurch for $330 some 7 times now and failed to close above that
number. My gut tells me that's about to change. I was comfortable
suggesting getting some cash available in September, it had all
the signs of a minor top in a bull market. Today is not a top,
therefore we are going higher. I don't know how many people actually
watch the volume on the gold shares but it exploded last week.
The funds are back and back in force. Gold stocks are going higher
and I think gold will pass $330 and $340 and maybe $350. If you
want to know exactly where gold is going, watch the dollar. The
dollar is the inverse of gold.
That means you need to start looking for signs of a top. When
everyone loves gold and it can't go down and your favorite gold
stock just went up 150% in two days, lighten up on the shares.
Someone called me last week from Nebraska (and, no, his name
didn't rhyme with tuffett ;). He wanted to thank me for running
the site, which was nice. He inherited $250,000 and handed the
bulk of it over to a stock broker. You can guess what happened.
And then he came across 321Gold.com. He feels as if we saved
his bacon. And I suppose we did, that's why we set up the site
in the first place, to post the very best and most accurate information
possible about gold, the economy and gold shares. If you haven't
made money in the last 18 months, you haven't been paying attention.
Our readers make money.
He
was a buyer of Silverado at I think $.13 a share and wanted to
know what I think of the stock. Since it's one of the high fliers
of the year, how could I do anything but love the stock? So I
told him to sell some at around $.75. It simply doesn't make
any sense to have a stock go up 450% and not sell at least enough
to cover his initial investment.
You marry a
mate. If you are as lucky as I am, you get a world class lady
well worth keeping. And she keeps my feet warm at night in our
cold winter weather in Miami. You find a good mate, keep them
for life, they are wonderful to wake up to.
You don't marry
gold stocks. My biggest mistake in the past two years is not
taking good profits when I had the chance. I've done well but
I could have done better. I sincerely believe the next two to
six weeks is going to bring a lot of profits to holders of gold
shares. When it happens, think of selling some. Don't ride a
stock up 300% and down 66%. Sell at the top and buy at the bottom.
I'm not a guru,
I don't believe in gurus. I'll do my best to tell you what I
think but it's just an opinion. If you see something that I miss,
take action on it. I miss lots of things. But you were warned
of a top in September and a bottom in October. Stocks are getting
over a nice healthy six month correction and are headed higher.
Much higher in some cases. I have covered before the stocks I
like now.
If you didn't
buy then, buy now. And get ready to sell after a big move up.
-Bob Moriarty
December 9, 2002
_______________
 321gold Inc Miami USA
|
