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Monday, February 23, 2009

This Week is Critical for Gold and Stocks

This Week is Critical for Gold and Stocks
Posted: 02/23/2009 Michael Maloney
http://goldsilver.com

The Critical JunctureTwo roads diverged in the markets, and I... I didn't care, because I owned precious metals.

This has to be the most amazing time to be alive. I believe that the changes that will play-out over the next few years will dwarf anything that has come before, and this week will be one of the decisive moments. All the major financial indicators that often foretell the short-term direction of the markets, the economy, and the general feeling of optimism or fear and gloom, are at a critical juncture. Gold, the DOW, the S&P 500, and the US dollar are all at key turning points and the direction which the markets will head for the short term should be decided this week.

Many analysts think the stock markets will bounce and the dollar will continue its rally while precious metals do one last pullback, while many more think the stock markets will plunge, gold will soar, and the dollar will be toast. Of course over the long haul the latter group will be right, but I don't really care because I own gold and silver. My metals not only give me a feeling of safety and of being protected, but also a great sense of optimism and well-being because I know that, over the long term, I will do very, very well, regardless of what the next few months bring.

I usually don't do technical analysis because it is only right 60% of the time... which means that it's wrong 40% of the time. Virtually every time I made a trade or investment based on the advise of a technical analyst, I have ended up in the 40% camp, with the short end of the stick. I now make my investment decisions solely on the fundamentals because the fundamentals always, always prove themselves out over time and the fundamentals have still never looked better for gold and especially silver. The only problem with betting on the fundamentals is that no one knows how long they will take to play out, and it's usually a lot longer than anyone thinks. But lately I'm getting the feeling it's going to be sooner, rather than later.

Anyway, here goes a look at this weeks amazing technicals.Full article at http://goldsilver.com/newsletters/newsID/4165/

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