GatheringStorm

Martin Armstrong bullish on gold! "Gold Upside Take off only Months Away" http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/11/14_Martin_Armstrong_-_Gold_Upside_Take_Off_Only_Months_Away.html

Is this something I should worry about as a holder of physical PMs and Gold stocks? Is precious metals trading for retail investors about to be illegal in the US? or is it just a hoax? Would appreciate comments. Apologies if posted before by others. http://www.tfmetalsreport.com/comment/4760#comment-4760

One of these "experts" who has sold out of gold was from the Jupiter Absolute Return Fund whose year to date performance is -1.76%. Whereas £gold is up circa 17% ytd. Looks like he sold the one bit of his portfolio he shoulda kept.

They're with 4 different providers for (probably illusory) additional safety. However, I find Fidelity the best. The easiest and most robust trading platform over several years and the quickest execution of the buys. Link below. https://www.fidelity.co.uk/investor/default-direct.page

Gold price forecasters are a dime a dozen. In truth, none of them have a clue. I would like to see Bill Bonner's supporting calculations. Or perhaps he's using that most useless of all indicators, his gut feeling. Unless you're leveraged this routine pullback is a non event imho. I'm sorry to hear you have no job. The only way to make money in gold so far has been to refuse to puke up when everyone else is - but that would be so much harder to do when you need a war chest to survive on.

Why would you be spooked at the prospect of a fabulous buying opportunity? Get the truck serviced!

My ISAs are my core long term holding of gold stocks and because of that would never hold juniors within them as the volatility would expend too much of my emotional capital. They are deliberately non trading ISAs to keep me from being shaken out by the frequent manipulation. I hold only Investec Global Gold and Blackrock Gold and General inside the ISAs. It's been tough during some of the drawdowns, especially in 2008 but the 2005 ISA is at circa £25k currently. I wouldn't dream of doing what you're doing and holding just two LSE listed juniors. Too hard on the nerves! What's wrong with ZJG.to or GDXJ? They're the ones that will mop up the mania if it ever happens!

I have 6 ISAs stuffed with gold stocks (5 in profit) and I hope you're right but I genuinely doubt that TA can forecast the future with such certainty - especially as the HUI continually disappoints. I'm surprised at how little gold stock talk there is on this board - must still be very early days!

Buying Brittannias and Sovereigns doesn't avoid cgt in itself. You have to sell at a (nominal) profit for any avoidance of cgt to take place. I still doubt that "large numbers" of Brits are buying bullion of any sort. Will there be a cgt allowance? Or will everyone selling anything for a profit be liable?

"a few years ago..." £500 was about 18 months ago actually

I'm in this position as well. Oct. 2008 is vivid in my memory. It would be so slick to duck the next downleg in the p.m. stocks and load up when the blood is flowing in the streets again. However, when the time comes there's bound to be some story floating around that makes you think the p.m. stocks won't bounce in the same way. I've compromised so far and sold my frothier holdings such as Osisko which are in the RSI (over 70) danger zone but am hanging on to stuff like Wesdome and Claude which have also been good to me.

Absolutely! - but we know what to do this time don't we? Buy the **** out of it. I keep looking at what gold stocks did in October 2008. Multi multi baggers there for the taking. Won't be had the same way twice.

If that were a stock or an index I would say the base being formed on the right hand side is a thing of beauty. However this is a ratio. I'm never too sure whether TA works on ratios?

I think physical buyers are the strongest hands of all. Unlike many paper traders, physical holders know exactly why they are in this market, understand the fundamentals and have no trouble riding out the volatility. As for the man/woman on the street, jewellery holder, these people tend not to listen to the media that usually broadcast the the misinformation such as the BBC, CNN etc. so cannot be "scared out" but they can of course be seduced by the daytime TV "turn your old gold bling into cash" ads. I think gold stocks are where it's at now. Sentiment is crap and the early speculators are getting battle weary but I think reinforcements are close at hand!!!

This tells us that we're early to the party. As long as the amateurs continue to sell to the pros, then personally, I'm confident the bull market in gold is alive and well.