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Today was one of those days that if you were an investor in gold you might be able to remember where you were on this day even 20 years from now.
In fact, I remember where I was 30 years ago when the bottom fell out from under gold and silver. I actually was invested in futures at the time. Not quite as much as the Hunt Brothers, but for me, I was invested much more than I should have been by any measure of sanity.
Fast forward and imagine gold driving away in a white Bronco on the LA freeway. Maybe good advertising for Ford, but not so good for retaining the adjective "precious" in front of your metals holdings.
If you're Mr. T your personal net worth plummeted today, but even if you could jump off the ship you would likely sink wih whatever holdings remained, unlike your Captain, who had the foresight to jump ship earlier, with the lone flotation device aboard, without alerting the crew and those that trusted him to guide them on their journey.
Metaphor? Not really.
Captain Gartman. Good move driving that Bronco and jumping that ship.
Did I mention that he took the map that also gave the location of all the sharks in the water?
I don't own gold in any investment form, unless you count the potential value of my body if all of its component elements are sold upon my demise. I didn't get those dental crowns as an investment. I got them because of bad habits.
Too bad there's no market for cholesterol.