Monday, Feb 23, 2009
Robbing your granny's gold teeth
FT Alphaville: The gold tooth indicator
Gartman, meanwhile, seems convinced of further downside to come. His reasoning? The rush of “cash for gold” type commercials on TV. As he explains:
"Perhaps from an anecdotal perspective, one thing has our interest above all else: the commercials on television recently by the companies asking the public to bring their gold rings, jewellery, necklaces, heirlooms to them and get paid for the gold content are commercials beckoning the public to sell gold, not to buy it…"
Funny video I will post the link.
Posted by mountain goat @ 12:31 PM (610 views) Add Comment
4 Comments
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1. mountain goat said...
http://www.youtube.com/watch?v=aWJ4fK75vPI
2. mountain goat said...
Another indicator that gold is still a long way off bubble values. In the depression of the 1930's gold dow ratio went down to 2:1
source
3. drewster said...
mg,
I've been thinking of cashing out my gold. There's definitely a whiff of bubble surrounding it now. Just last week I got a flyer from a gold dealers offering to buy any scrap gold. Hmm....
4. mountain goat said...
Drewster - personally I think the bubble hasnt happened yet, although short term we probably going to get another pull-back if we get spring bounce in the stock markets. The financial crisis is getting worse, that is driving gold and silver prices, so I am no where near selling (apart from possibly a bit of short term speculating). Not being a trader of shorts, gold and silver are my short of the corrupt financial industry.