02-20-2009, 11:11 AM
Id say it definitely is, yet Im still scared to buy into it because I feel like I missed the bus. Im more inclined to buy energy stocks right now which are at all time lows. Most gold funds are at all time highs, and well buying at an all time high doesnt make much sense.
An interesting lil tidbit that Schiff himself has touched on, twice in the 20th century, gold has reached parity with the Dow. So imagine that happening again, it could go much higher than $2000, or the Dow could go much lower.
I have a finance buddy and he is saying 7500 has been a psychological bottom in the market, and now that we've finally gone under, he expects the floodgates to open and the Dow to be at 6000 in March.
An interesting lil tidbit that Schiff himself has touched on, twice in the 20th century, gold has reached parity with the Dow. So imagine that happening again, it could go much higher than $2000, or the Dow could go much lower.
I have a finance buddy and he is saying 7500 has been a psychological bottom in the market, and now that we've finally gone under, he expects the floodgates to open and the Dow to be at 6000 in March.