doesn't mean a damn thang! It's good to see Goldcorp up with a downgrade and also on a drop in the price of gold.
UBS The company you should be downgrading is yourself, 564 billion in debt, are you shitting me? Is this some kind of mistake in the yahoo financials? I would go through your 2nd quarter report but then I would have to convert the Swiss Franc to the Dollar and that would require me to actually think. Now if you had zero debt like Goldcorp does then that would be an easy one to convert.
Gold has moved up from about 252 to nearly 400 and the public is clueless about gold. If I got my numbers correct the miners mine about 80 million ounces a year, that's roughly a quarter ounce per person just in the US being mined per year. That's not very much. Once the public piles in gold should fly.
Instead of looking at charts and listening to them analysts I'll rely on the truck driver who shows up at our work everyday as my indicator to sell. The other day he said, "Real estate is the place to be" so I know real estate is definitely a top. Once he shows me some gold coins that he bought then it's time sell...
Yeah right. But why would the public pile in? It is nice to have a dream, but just remember a dream is all it is. There is no reason for the public to pile into gold. It will not happen. Forget it dude.