GOLD 0.51% $1,391.7 gold futures

Bingy,'BHP and RIO have been sold off so that means when stocks...

  1. 33,109 Posts.
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    Bingy,

    'BHP and RIO have been sold off so that means when stocks blast off iron ore prices can't rise.

    Think you're getting a bit carried away there as usual Bingy. BHP's down 21 % in the last year , iron ore down 12%.

    Gold's up 10% in the last year, the XGD is down 28% and the HUI down 25%.

    As I said the other day, the same thing happened to oil before it crashed 84%, no one wanted the shares, but oil kept rising until the day of reckoning arrived.

    Much as I don't like to say it I think prospector's got the right idea unloading 50% just in case.

    I would be, especially if there's big money at stake.

    Have you noticed the agitation in the news going on over the oil price? Everyone's blaming speculators for grossly overpriced gasoline, Obama could be lining it up for a big hit, and where oil goes, so does gold.

    Election year remember?

    Those that call AAPL a bubble like the Parrot will have to wait, no one really knows, bubbles are only obvious in retrospect and it's beginning to look increasingly like the gold bubble's popped, 7 months since the top.
 
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