[jsh3180]

“””sucker-fishing with the talk of “bottom-fishing” and “the worst is over.” Happening right at FR.””””
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“sucker-fishing”, lol, we used to fish for suckers on Upper Lake Michigan with a bow and arrow.

A couple of posts above mentioned a DOW 7250, I believe, maybe they said 7500. But that’s about exactly the target I have in mind. 7250-7500 corresponds with DOW lows from Sept 1998, Oct 2002 and March of 2003.

I would not be bottom fishing here unless you plan on waiting 10 years or so to get even again.

Now, since everybody on FR loves GOLD, (sarc), how’s about that nice $65 move in the barbarous relic in the last two days and a 13% increase in gold/silver stocks over the same two days.

[TigerLikesRooster]

barbarous relic

Yeah, those boys won't take gold as payment, even if all currencies disappear.:-)

[Mr. Jeeves]

Gold and the Dow have a date at 7,250. Nobody ever believes it until it happens, but historically, they have always returned to a near 1:1 ratio. When gold finally has its super-spike (probably a few years off yet - Bernanke and the world's other central bankers aren't yet out of tricks) there won't be time to catch it. It will probably double or triple in a few trading days - weeks at most. At that point, blue chip stocks will be a screaming buy.

Just don't be fooled by any of the little fake 3-6 month mini bull markets coming up within this secular bear. Trade them, but "long term buy-and-hold" of domestic equities is dead, dead, dead as an investment strategy for the next seven to ten years - and unfortunately, it's the only thing this generation of post-Reagan-economy investment advisors knows how to do.