Skip to comments.Mickey Fulp's Monthly Market Review--03.May.2012
Posted on 05/03/2012 12:39:18 PM PDT by appeal2
www.FinancialSurvivalNetwork.com presents: Markets and financial reporting were virtually flat in April. The only bright spot on the horizon was natural gas prices, which were up 16 percent, probably a dead cat bounce. The Dow, Nasdaq, Oil and metals prices were channel trading, but these directionless markets are usually short lived. As Mickey and I spoke, gold and silver were getting raided as usual. Employment numbers were released, and they pointed to a slight decrease in new filings. However, these monthly numbers have been shown to be completely unreliable and inaccurate; wait for the inevitable revisions to kick in.
In other precious metals news, Copper is showing great stability, while platinum got kicked in the teeth and fell bellow gold once again. But, history shows such instances to be short-lived, and this will no doubt follow the pattern. So we'll see if the old saw, Sell in May and go away holds true this year like it has in previous ones.
Listen to the Interview Here
1. Whenever gold has a downturn the first stocks that investors sell are the juniors.
2. Gold stocks in general tend to move with the rest of the market regardless of the gold price. There has been no de-coupling as has been predicted.
3. Fulp represents the companies that he talks about. He's just talking his book.
Gold is a good store of wealth and is insurance against a real dollar collapse, but investing in the junior miners is only for the insane.
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