Gold and Silver are Topping
When everyone wants to sell a commodity, you should buy. When everyone wants to buy a commodity you should sell. There is no more reliable indicator of tops or bottoms than sentiment. And the bullish sentiment on gold is a near record 89% with gold up a record-tying 8 days in a row.
Actually there is one indicator slightly more accurate than the Bullish Sentiment and that is the Bill Murphymeter. On December 3 of 2003 he said, "*We have remained above $400 for three days in a row. If my hunch about a gold derivatives neutron bomb is correct, it should go off within days to a week."
Bill's at it again which means another top - at least for the near future - when he said Monday, "*A Gold derivatives neutron bomb will go off. Could happen at any time."
For the last three years, if you had bought minging shares at the April/May lows and sold at the November/December highs, you could have doubled your money every year. This year is no different. Gold is in a bull market and in a bull market prices go up and they go down.
Come back and buy next April/May and you will do just fine.