gold breaks out, page-49

Dillinja,

Yeah, I might owe you a beer, but the breakout that gold's made recently is nothing compared to the eccentric forecasts that posters here have prognosticated, many of whom expected to be well and truly on the pig's back by now, but it hasn't happened, nor was it ever gonna happen. Life doesn't work like that.

Even the so-called 'experts' have made dicks of themselves with gold charts and forecasts that make the NASDAQ bubble look like a mere pimple.

There's not quite the same enthusiasm for Mike Maloney, Jim Sinclair, Egon von whatisname, the Aden sisters and so on at the moment.

In the latest Barron's and WSJ there's a few commentators expressing caution and worry, not only because it's the 25th Anniversary of the 1987 crash but because bad things have a tendency of happening this month. Some have moved more towards cash, and there's a one page article in the weekend WSJ on stock crashes and those that've had their fingers burned.

Other commentators are worried about high speed trading leading to a crash, some large companies own shares for less than a second.

One commentator started work in 1961 for a stockbroker who never actually owned a share, he only owned property.

Gold, silver, stocks and some other commodities are not far off their highs, which leaves lots of room for movement downwards.

October was known as a destructive month for stocks even when Mark Twain was alive, who made the comment:

"October: This is one of the particularly dangerous months to invest in stocks. Other dangerous months are July, January, September, April, November, May, Match, June, December, August and February".