As usual -- I start every day with coffee -- and CNBC....
The talking head is telling everyone that GOLD is at a 4 year low... and on pace for it's worst week and blah blah blah.
Here's my point... and I've said this about half a zillion times in past posts.
When everyone is talking about something - whatever that is - RUN AWAY.... For the last 3 or 4 years all I heard about was GOLD going up - and GOLD is going to 2000 and GOLD is this and GOLD is that.... WHICH IS WHY THE ONLY GOLD I OWN IS IN WATCHES TO WEAR... cause that's all it's good for in a retail investors mind. It's jewelry... buy a bauble for your wife.
NOW --- in a DOWN MARKET all you're going to hear from the talking heads is how bad it is -- and how low it's going to go.
They did the same thing during DOT BOMB days -- and the same thing during the housing boom and bust....
Don't get caught up in those traps. When the guy at work - that you know has nothing and knows nothing - is telling you about the latest "can't loose" investment --- RUN AWAY WITH YOUR HAIR ON FIRE.... cause you might make some on the way up -- but you'll never know when it's about to break - and they break faster on the way down than they do on the way up. When everyone is talking about "it" -- IT is just about done.
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