thanks for your chart pics yeti.
whilst at first glance the images look somewhat similar - in actuality they are nothing like what we saw to $1900.
Look at the words on your bubble chart - look at the public section --------- what do you see?
first - there is a public section - in the pic -------- but, the reality was - we didn't have a public section ------------ it NEVER happened.
what does the pic say in the public section - the mania phase?
It says ------------ greed and delusion.
Did we see greed?
Nope, not a sausage ---------- hardly anyone owned gold at all
Did we see delusion?
Nope ------------- most people showed total ignorance - not delusion.
So, did we see MANIA? ----------------- arrh, no, in fact we saw bugger all ------------ no parties, no dinner table talk, no queues of people out doors buying or selling gold at all.
NONE ----------------- if this was mania, it was the most dumbed down drugged manic phase ever produced by a bull market --------- ever.
Now, there is almost universal agreement that gold was in fact in the biggest bull market in history.
So, is that how we expect the biggest bull market ever to end ?----------------------- a sort of non end - no party, no fan fare, no tearing up of dead eft tickets -- nothing.
Arrrh, no.
How about the possibility that it hasn't reached that sector yet? What about the possibility that if this was a volcano, that it has just shown us the first rumblings?
Would we see that if gold went up now past $1900 onto say $3000 and then climbed rapidly toward $10,000 p/oz
Would we call that a greedy, delusional period?
Would we see MANIA?
Would we see people filling corridors in gold buyers offices - either buying or selling their jewellery?
My guess is a very big ----------- Yep.
Now that would be manic.
How about that that final sector is about to begin?
If there are some among you that have seen a gold rush or a mining rush or a manic time in a market - you will know what I am talking about ------- and for those of you too young to have seen one -------- believe me --------- we haven't had it yet ---------- not by a long shot.
Wait until you see gold going north and south regularly by a couple of hundred bucks a night - not this pissy $20 or even $50 -------------- hundreds.
If you think $50 bucks can get the adrenaline going -- try $250 eod with a range of $500 and run it for a couple of days.
Now, that's manic material.
Wait until your 10 cent shares open the next morning at 14 and keep going - wait until those 10 cent shares are 50 c within a few weeks, wait until they screech past $2 bucks and leave it behind without a pause --------- all of them, even the ones with no assets, no cash and full of fresh air. Wait until you put in a buy order at market and sweat because the bloody thing takes all of 5 minutes to fill.
We haven't seen anything yet.
A manic period - it's a whole new ball game. If you haven't seen one - believe me, your definition of MANIA will be changed forever.
Gold to $1900 was in fact ----------------- dreary.
have a great night all.
Gazza
