Frothy Markets
Food for thought:
Stock indices at all time highs…
Tesla near all time highs and with an obscene PE multiple…
Cryptos are plowing higher and stories of the most unsophisticated speculators joining the fray keeps popping up…
Stock valuation metrics near or at highest ever…
Everyone and their mother is “making money”…
Stock trading volumes have gone exponential…
Meanwhile Gold sentiment is literally in the gutter…
And gold juniors are cheapest, perhaps ever…
“Be fearful when others are greedy”
I think the next big move for gold is Fed having to do yield curve control – 1.5% on 10 year appears to be max pain for then and market would suffer a correction at that level of rates. That will give us long awaited move above 2100. We could dip to 1650 first as rates move up. This will be a great buying opportunity.
I will load boat on Novo when it fills gap at 2.12-2.14
Anyway that’s my 2 cents
There will be boat loaders galore on Novo long before your technical target. The company has crossed the rubicon on a fundamental basis.
I’ve been stacking physical silver and gold for over a decade. I’ve been all in on PM stocks since last year. But being a contrarian hasn’t really paid off. Papersmashes just keep prices down day after day. I’d be in much better shape if I just bought Tesla and shitcoin like everyone’s cousin.
Guess what mainstream? You win