Thursday, September 6, 2007

Here we go!

It appears more and more likely that gold is ready for it's first leg up in the second phase of the secular bull market. If this leg can take gold above the 1980 highs at $880 we could see a tremendous upwards move. I've said this many times in the past but it bears repeating because I think quite a few investors are going to make this very critical mistake. You have to be in when the PM start to move or you risk missing big parts of the rally. These are thin markets and a little buying pressure can make them move rapidly. Just take a look at the rally in gold over the last 4 days. The big money will be made by buying and holding on. Unless you are very good or very lucky, you will most likely cut your gains significantly by trying to jump in and out of the this market. This is not a bull market that you want to lose your position in.