I rarely show this chart, but I must to support the following point. Compare multi-decade breakout of 1961 with that of 2010. If you listen very carefully, you can hear the invisible hand chuckling over the screams of panic.
Chart: S&P Gold (Formerly Precious Metals Mining)* S&P Gold from 1945, Barron's Gold Stock Index from 1939-1945, 1922-1939 Homestake Mining
Eric:
Your Gold Shares to Gold commentary and chart were of interest today.
It’s interesting to me that you use 4.3 and 8.6 as cycle measurements; those are the same cycle numbers that Armstrong uses for some of his work.
The sentiment in share sector is horrible, as you know. I can always tell what is happening by which clients call me during a cycle move. Certain clients call me when things are good; certain clients call me when things are like now. I just got another one of the second kind this morning. I am blessed with wonderful clients, but that makes me want this to change for their benefit, sooner rather than later.
Have a good weekend!
Kevin
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