 Gold
Is Not Finished - Here's Why...
Todd Stein & Steven McIntyre
The Texas Hedge Report
May 23, 2006
Courtesy of www.texashedge.com
Every year, around the beginning
of May, we take a trip over to a local coffee shop to see what
the average Joe thinks about the markets. The most efficient
way to do this is to administer a poll to this crowd of mostly
working class professionals in their 20s, 30s and 40s. While
not the most scientific of polls, the data below is quite informative.
These results do not surprise
us one bit. The phrase "money in the bank" still has
meaning when it comes to cash being the safest place to store
wealth. It is interesting to see that some people are catching
on to inflation protection as the precious metals response has
become more popular. We laugh at the percentage of respondents
who said real estate was the safest - apparently, housing prices
only go up.
While the hostility towards
metals has modestly declined, gold and silver seem to be hated
as an investment. This poll result, along with the supply/demand
fundamentals, certainly refutes all the recent talk about a bubble
in gold and silver.
The results speak for themselves.
We only wonder what the percentage of people responding "yes"
would have been in 1980.
Again, hardly the sign of a
gold bubble. We are not saying that HUI and XAU will ever become
more popular than the NASDAQ, but you get the idea. Main Street
investors are still in love with tech stocks which are down more
than 50% from their highs while gold has doubled off its bottom
and no one cares. Subscribers to our newsletter know that any
outlook for gold and silver should be long term in nature and
that painful corrections are part of the game.
May 23, 2006
Todd Stein & Steven McIntyre
Archives
Texas Hedge Report
Todd Stein
& Steven McIntyre
email: admin@texashedge.com
For more information, go to http://www.texashedge.com.
Recent Gold/Silver/$$$ essays at 321gold:
Nov 22 Gold Mid-Tiers' Q3'24 Fundamentals Adam Hamilton 321gold
Nov 22 Gold Stocks: Rocket Launches In Play Morris Hubbartt 321gold
Nov 22 Sequential 9 Buy Setups in GLD and SLV Ross Clark 321gold
Nov 20 This past week in gold Jack Chan 321gold
Nov 19 Stk Mkt Concerns & Key Tactics For Gold Stewart Thomson 321gold
Nov 15 It's Rally Time For Gold Morris Hubbartt 321gold
|
321gold Inc
|
