Its been common knowledge among smart money that when you see gold coins being sold on television then you know the Gold Rush is over.
Last week, I saw the "Fast Five" on CNBC stating that you should hit the streets and buy gold coins from some sidewalk shops in New York City. They even had a few samples they had purchased from the street vendors.
On Bloomberg radio, there was a money manager that stated the oil producing countries should turn all their cash into gold immediately. This is what I hear actually almost everyday now as if a nuclear bomb was going to hit the nation and we need to be in gold right now.
The 2004 and 2005 gold charts look healthy, however, the 2006 chart looks unhealthy with lots of chop indicating to me that we might see the price drop at some point in the future.
I believe that when everyone starts to look at one investment vehicle then the easy money has already been made. The end of the 2000 tech bubble was when we saw a brokerage commercial with a tow truck driver stating that he made enough to buy an island. The end of the real estate market came with many how to invest in real estate seminars and commercials. So I believe the end of the gold market has come with the gold coins commerical and should suddenly pull back much like oil.
What do you think? Should I go out to the street vendors and buy up the gold coins or should I stay with my opinion on this issue?
Last week, I saw the "Fast Five" on CNBC stating that you should hit the streets and buy gold coins from some sidewalk shops in New York City. They even had a few samples they had purchased from the street vendors.
On Bloomberg radio, there was a money manager that stated the oil producing countries should turn all their cash into gold immediately. This is what I hear actually almost everyday now as if a nuclear bomb was going to hit the nation and we need to be in gold right now.
The 2004 and 2005 gold charts look healthy, however, the 2006 chart looks unhealthy with lots of chop indicating to me that we might see the price drop at some point in the future.
I believe that when everyone starts to look at one investment vehicle then the easy money has already been made. The end of the 2000 tech bubble was when we saw a brokerage commercial with a tow truck driver stating that he made enough to buy an island. The end of the real estate market came with many how to invest in real estate seminars and commercials. So I believe the end of the gold market has come with the gold coins commerical and should suddenly pull back much like oil.
What do you think? Should I go out to the street vendors and buy up the gold coins or should I stay with my opinion on this issue?
