Sjuggerud: FINALLY, gold is a buy again
From Dr. Steve Sjuggerud, Editor, True Wealth:
I made a lot of enemies at the end of last July…
I was a keynote speaker at the Sprott Natural Resource Symposium in Vancouver – maybe the first speaker at the event… In a room full of gold bugs, I told the crowd that I had personally sold all my gold and gold stocks the day before the conference.
The attendees thought I was crazy… Apparently, selling gold or gold stocks is never “OK.”
But my timing for selling gold was exactly right…
That speech at the end of July roughly coincided with the top in gold and gold stocks for 2016. Gold and gold stocks went straight down for the rest of the year.
Since gold peaked over the summer, people have been bugging me to tell them when to get back in. Now, FINALLY, gold is a buy again… We just had to wait for the right timing.
Let me explain…
Back in July, I told the crowd that I personally took my biggest position in gold and gold stocks – ever – in January 2016.
Gold stocks were more hated than they’d ever been – seriously – so I urged my True Wealth subscribers to buy them. We sold half of our position over the summer for a 95% gain.
Again, we got the timing exactly right. We bought near the bottom, and sold near the top.
So when people asked me to tell them when to get back in, I said I was waiting for investors to give up on gold. But darn it, gold investors were stubborn… It took them many months to give up.
If you’ve been a DailyWealth reader for a while, you know what I look for… I want gold to be HATED and in the start of an UPTREND.
In the latest issue of my True Wealth newsletter, I told my subscribers.
We will be gold buyers when two things happen: 1) Gold becomes a bit more hated, and 2) the uptrend returns. That may take a few months.
My friends, here at the beginning of 2017, we finally have what we’re looking for… Gold is no longer as loved as it was… AND we have the start of an uptrend.
We nailed the buy in early 2016. We nailed the sell in the summer of 2016. And now, here in early 2017, I’m saying the coast is finally clear…
If you’ve been waiting since this summer for my “permission” to buy gold… you did the right thing. Gold went nowhere but down for months.
However, things have changed in 2017… So my opinion has to change…
If you were waiting for my permission, now you have it!
Crux note: If you find managing your portfolio overwhelming, Steve has just helped design an incredible new program. It’s not a newsletter or research service… It’s a way to help improve your investment results and get your financial house in order in less than one hour a month. Steve will reveal this new service on Thursday, January 12 at 8 p.m. Eastern time. Sign up for the live webinar here.