Thursday, January 14, 2010


One of the best pieces of advice I can give investors at a time like this is to throw those stupid daily charts in the trash where they belong.

In a raging bull market and especially in the second phase of a C-wave advance watching the daily charts will only cause you to do something losing your position!

Trust me, C-waves will throw every possible curve ball imaginable at you to knock you off the trend. The best way to battle the bull is simply not to play his game. 

Nicolas Darvas made a fortune in the 50's by only checking the markets once a week. Darvis, a professional dancer working in Europe, made a small fortune by mostly ignoring the market. His broker would send him market data on the weekend as it was virtually imposible for him to get up to date information in Europe at the time. Amazingly enough, as long as Nick stayed in Europe and only got info once a week he was able to turn an $8,000 stake into a $2,000,000 fortune.

When he changed tactics and moved to New York so he could keep track of the markets on a daily basis he immediately started losing money.

I highly recommend his book "How I made $2,000,000 in the stock market"

So here is all one needs to know about precious metals and the dollar.

Probably the biggest favor you could do yourself at this time is to do anything else besides watching the markets. Checking the weekly close on Friday only, will probably make you a lot more money than sitting in front of your computer all day, every day.