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Re: the real case for gold
Real Or Ridiculous? The Mr. T Gold Indicator
By Minyanville Staff Feb 22, 2010
The more you see of the A-Team's warrior, the closer we are to a peak price.
Want to know which way gold is going? Forget about the market trends or chart patterns, fool.
The Mr. T Gold Indicator is a proprietary technical indicator created by Minyanville Editor-in-Chief Kevin Depew in 2005. It identifies and anticipates prospective exhaustion points in the price data for gold. As Depew says, "Some technical indicators rely on formulas applied to the price data of a security, but these types of indicators can be very subjective, requiring an analyst to view the signals that are generated within the context of still more indicators. The Mr. T Gold indicator, on the other hand, is completely objective and easy to use. All you have to do to use the indicator is look at Mr. T."
And, when you’re done literally looking at Mr. T, resplendent in his thick gold chains and rakish Mohawk, take a glance at his career arc.
Depew discovered that over the years Mr. T's appearance and popularity tracks neatly with the price of gold; when images of Mr. T are in abundance, it's a subconscious reminder that the yellow metal has reached an important price peak.
Why does it work? Because Mr. T knows his gold. In fact, Mr. T began to amass his gold chain collection during his pre-television career days as a nightclub bouncer, confiscating the jewelry of patrons he ejected, and looping them around his neck as trophies, of sorts....
Full Text & T-Charts.
Mr. T, aka: The ultimate contrarian sentiment indicator (Heavyweight Division).
-joaquin- -
Re: the real case for gold
Mr. T like 1000 fund managers who’ve had their clocks cleaned shorting Treasury bonds over the past few years was too early when he bought gold for $400 in 1987, or $700 in 2006 dollars. He had to wait 19 years until 2006 to break even.Originally posted by thisandthat.nowandth View Post
But bad timing is not the only evidence that Mr. T is no savvy gold investor.
Today's gold buyers are the top 5% net worth class who made the most off the FIRE Economy over the past 30 years. Today's gold sellers who made nothing off the FIRE Economy and have little savings to show for decades of hard work. They are now selling family heirlooms at 20 cents on the dollar to scam Internet pawn shop operators like the one that Mr. T represents and Bloomberg is, indirectly, financing.
What are we to make of the pathetic spectacle of the top 5% deploying FIRE Economy gains to buy gold to protect their wealth against future inflation caused by the collapse of a corrupt finance-based economy while everyone else sells gold to pay taxes and student loans and credit card bills?
This is entertainment?
But we have seen this movie before.
Last edited by FRED; October 15, 2010, 05:42 PM.Ed.Comment
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Re: the real case for gold
"The whole arsenal is 45 pounds."Originally posted by jk View Post
He's got about a million bucks in gold. Good for him.
"I believe in the company and what it represents."
Not so good. I hope the gold is all his and not the creepy company's.
"My mother taught me to be humble."
Awesome.
In jest, I just sent this link to my friends who I tried to convince to buy gold at 400, 500, 600, and 700 and they didn't. They are now telling me gold is at the top, each separately. (So I know it still has a ways to run!) Their din has escalated recently.Comment
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Re: the real case for gold
let us know when they finally decide to buy, so we know when to sell.Originally posted by Jay View PostComment
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Re: the real case for gold
Mr T says "Buy gold or I'll kill you."Comment
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Re: the real case for gold
"I pity the man who sells gold to the gold scam buyer I'm pitching for."Originally posted by cjppjc View PostEd.Comment
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Re: the real case for gold
Hi Fred. Just to be on record, I oppose everything about the recent proliferation in shady scrap dealers, from the paltry premiums paid, to the repugnant sales tactics.Originally posted by FRED View Post
"We pay cash for your unwanted gold and silver".
Speaking of repugnant, Gartman recently opined on the appreciable decline in scrap dealer television advertising. He claims it indicates a gold correction just over the horizon. I think the disappearance may have more to do with a tonne of bad press, and attention from several state attorneys general involving the more prominent of these companies...companies that have been serving, at least in some measure, as legitimized fencing operations for stolen property. Add to that my belief that most of the low hanging fruit was already harvested in 08/09, a result of distress sales by those survivng on the narrowest of margins when credit went south.
Maybe a forthright, larger-than-life personality like Mr. T can help rejuvenate a flagging industry ?
Because of the situation we're in now (after Katrina), I told myself, 'No, T, you can never wear your gold again. ' It's an insult to God." - Sept 2005
-joaquin-Comment
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