Right now there doesn't seem to be any "gold fever". Very few are out looking to strike it rich in this sector.
Way back when at Sutter's Mill in California the discovery of gold was accidental. One of Sutter's employees picked up a shiny stone out of the stream and suddenly the fever caught everyone. Gold fever is one of the most catching and dangerous "diseases" that has afflicted man since the beginning of time. Many have died or gone broke chasing this elusive element. We are about to see it happen again. The first ones to catch it usually do very well, but as the fever spreads to the general population the affliction mutates to fear of not getting their share and ends with disaster.
Those who understand the cycle of fear, yes, that is what it is, do manage to control their emotions and do very well. At first the logical, thinking people realize that everything is in place for a long term bull market so they mine (buy) early. As they continue to become richer and richer others see their success and start staking claims. Even these later comers do well as the hoard descends upon the gold fields and the early birds are happy to accommodate them by selling them part or all of their claims (stocks and bullion).
The early birds do not become emotional about their good fortune and do not become so attached to their mines that they refuse to sell. They have the good sense to realize that if they hold much longer there will be too many chasing this good thing so they sell. Every rich man in history will tell you that the secret of success is knowing when to sell.
Those who bought the original tulip bulbs from Holland and land in the South Pacific and saw the prices begin to erode and sold were the ones who remained rich. From 1982 to 2000 dot.com stocks made everyone think he was a financial genius. Those who had no exit strategy were buried in the avalanche of cascading prices for the next 3 years. It seems that many have not yet learned their lesson and are buying more of the same junk with the hope that it will go back up to the old high prices so they can get out "even".
Those who came late to the gold rush went home with little or nothing and most lost money. If you want to participate in the coming gold bonanza you must get started now.
Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know.
Copyright 2005
green cleaning service Des Plaines ...The Shadow knows. Remember him? It seems a shadow has... Read More
There are many important things you need to know to... Read More
Most stock traders know that momentum trading can be a... Read More
It is wonderful to be alive in the information age.... Read More
Using Swing Trading Strategies and Technical Analysis when Trading Stocks... Read More
If you want one.And I don't recommend any broker with... Read More
If you have been dealing with mutual funds for any... Read More
You probably have been told that options are risky. Even... Read More
When you become interested in a stock or mutual fund... Read More
Did you run out to buy that duct tape yet?... Read More
Two weeks ago I wrote about what the Securities and... Read More
If you're a normal human being, your need to feel... Read More
The fight continues to rage among traders who use technical... Read More
If you were to find that you had some severe... Read More
What is leverage?Here is a definition of leverage from an... Read More
Let's first define insanity. It is doing the same thing... Read More
Mutual fund investing is a lot like Thai cooking. Everyone... Read More
Stock investment advice is easy to find. Do you get... Read More
How often have you come across an advertisement or e-mail... Read More
On Monday, November 25, 2000 Investor's Business Daily listed on... Read More
Just about everything you have been told about Social Security... Read More
On Friday or Saturday evening my wife gets a movie... Read More
Analyzing growth stocks is an important focus for any investor.... Read More
If you are a baby boomer, time is not on... Read More
Most advisors will tell you they can beat the market.... Read More
licensed cleaning services Winnetka ...Ever notice how behavior in one area of life can... Read More
Stocks breakout from properly formed bases everyday but many investors... Read More
A Guide to Using Stop Loss Orders Stop losses are... Read More
For some "long term" would mean holding a stock position... Read More
I was devastated!I just couldn't believe it. I was 10... Read More
How do you make money without picking tops and bottoms?I... Read More
Caught in a whirlpool and being sucked under. No life... Read More
When you invest in the stock market for ever-increasing cash... Read More
Mutual fund investing is a lot like Thai cooking. Everyone... Read More
If you don't know where you are going any road... Read More
Cat or dog? Maybe Zebra. Shucks, I don't know, but... Read More
Sometime in the third quarter of 1997, someone told me... Read More
According to Investopedia Inc. the penny stock market has seen... Read More
On the 40 year journey through the turmoil of a... Read More
AS BUILDERS BEGIN WORK ON THE FREEDOM TOWER in New... Read More
If you're like many investors who squander those small dividend... Read More
You've decided to try your luck at trading stocks or... Read More
What are you thinking when it comes to your no... Read More
'Sector funds are too risky.' 'I doubled my money with... Read More
Whenever I see mutual fund comparisons in the trade publications... Read More
Everyone who follows the financial news has heard of mutual... Read More
You remember the story about the frog that was put... Read More
It is commonly reported that the stock market averages about... Read More
Dollar cost averaging is one of the most popular ideas... Read More
If you have been dealing with mutual funds for any... Read More
Stocks & Mutual Fund |