Sludge Headline - "Gold In, Dollar Out"

[El Pinko]

Okay, so gold has had a pretty good run and broken $1000.

I'm no expert, but from what I've seen, when a bubble gets to the point where they are making TV shows like "Flip This House" and everybody and their mother is talking about getting in on buying whatever asset, it's a pretty good bet that it is approaching its peak.

In other words, if you want to buy gold right this minute and get the last few bucks of speculative appreciation thanks to Drudge and dump it soon, it might be a good idea, but

my intuition is that when mass-media tools like Drudge (or CNBCs Cramer) start telling you to buy gold or whatever else, there's probably a good chance that that asset is very close to a correction...

Feel free to tell me I'm wrong...

[wildbilln864]

1. nope...

I think you may well be correct. :hi:

[AlCzervik]

2. buy low sell high, no way would i buy gold now, i've seen the gold market tank

more than once.

[ret5hd]

3. Do you think oil is going to go down? Or the dollar make an amazing recovery?

Or the stock market break its downward spiral?

[El Pinko]

4. No. I think the dollar has a little ways to go. Oil may hit $120.

I have no magic crystal ball - just my hunch that when Drudge tells me to buy something, it must be nigh on played out.

I do think when and if the dollar starts to recover (the Euro is extremely overvalued at this point), oil prices will fall, probably to the 70s or 80s if enough of a glut has built up.

But the timing is anyone's guess...


The stock market? LOL.

[tuckessee]

5. Everybody sell all your gold now! RIGHT NOW!

Convert it into dollars.

You can't lose.

The dollar is backed by the full faith and credit of these here United States of America and if that doesn't have you brimming with confidence I don't know what will.

[El Pinko]

6. LOL - Now I most certainly didn't say all THAT.

...but the day I answer Drudge's dog whistle will be the day I hurl myself from a cliff.

I trust his advice about as much as I trust Jim Cramer's guaranteed-to-plunge stock picks.

[Mojorabbit]

7. I think gold still has a way to go

unless the slide in the dollar comes to a screeching halt. I inherited some and bought a little when it was 400 dollars. It isn't high enough for me to sell. If it does go down I might melt it down and have some jewelry made. If it goes up I might consider selling it. It has done better than my other investments this past year.

[taught_me_patience]

8. The time to invest

is when nobody else is interested.

...Now if I could only get my hands on some Mortgage Backed Securities!

[alittlelark]

9. We tossed 1/2 of our liquid into international currency

2 years ago - not long after we heard Cheney had converted most of his $$$ into Euros. An excellent investment. I don't see us converting them back to Dollars for at least a few years.

[madrchsod]

10. gold? buy low and sell high to the first sucker

before it goes bust....