"To succeed in the markets, it is essential to make your own decisions. Numerous traders cited listening to others as their worst blunder."--Jack Schwager (Investment manager, author, Stock Market Wizards: Interviews with America's Top Stock Traders, born 1948)
Precious metals investments news
The "Stock Market Wizards" of the world are an independent-minded group of diverse investors. They hold their "cards" close to their chests. It's not that they're against mutual collaboration and collegial strategy planning. But they'd rather share after they've taken action.
Whoever your favourite "Wizards of Wall Street" happen to be, I'm quite certain that they don't like to chase popular stocks or sectors. They want exceptional value based on "capitulation selling" and sectors that are virtually despised. Like all smart investors, it's all about buying quality at low, low prices. They're watching what most don't care for.
Take Dr. Steve Sjuggerud, the editor of one of the most successful advisory services in America, True Wealth. Dr. Sjuggerud is a big believer of going with the trend, and he told me in a recent interview that his mantra is "I want that which is cheap, hated and in an up-trend!"
Using his current analysis Dr. Sjuggerud told me that his proprietary system tells him that "there's no hurry to pile into gold!" After Ben Bernanke's comments on Tuesday February 26 defending the Fed's bond-buying program, the time to "pile into" precious metals may soon be here. The monetary policies of the Fed are geared, according to Dr. Bernanke's own words "to accommodate alternative investments".
That would include one of the most hated and left-for-dead sectors of the stock market; the precious metals producers. One way to see what I'm writing about is to look at the 2-year chart of the Market Vectors Goldminers ETF (GDX).
Reproduced from an article that appeared in Seeking Alpha to continue reading click here
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