The IKN Weekly doesn’t panic.
Here’s how the main intro piece to IKN368 ended, the edition published last Sunday evening while gold played kiss’n’tell with the U$1,200/oz line. The only thing removed is the name of the stock I’m adding this week (in fact there are two):
think there’s anything here except an obvious buying opportunity on temporary
weakness in the gold price. So that’s what I’m going to do next week by adding
some (name removed). Or to cruelly steal from and unfairly edit one of my
favourite authors, “The IKN Weekly…has many omissions and contains much
that is apocryphal, or at least wildly inaccurate, it scores…in two important
respects. First, it is cheap and secondly it has the words DON’T PANIC inscribed in large
friendly letters on its cover”. Or it should have.
Does all this sound a
little too blasé for your taste, the cool and smooth newsletter writer
pooh-poohing dissent, going full goldbug and giving it the “we go up from
here!!!” (three exclamations de rigueur)? Well…yes maybe, but be in no doubt the
tide has definitely and definitively turned, this is now a bull market for gold
and its stocks. In a bull market be bullish, don’t be bearish. And you’ll also
note that it’s really easy to agree with “Buy. Hold. Win.” when everything is
going up, it sounds snappy and brings a smile to the collective face of my
esteemed and highly respected readership. When such catchphrases really matter
is when there has been a temporary reversal over the larger uptrend, the
reminder grates more when your position has just lost 10% or 20% but it’s far
better to annoy than appease.
It also reminds me of another thing I’d like to do, which is put the brokerages out of business. The strategy of “Buy. Hold. Win” that’s now the baseline of the Weekly isn’t good for the people who make their wedge from commissions, which may just give you a clue as to why they like shaking out the weak and nervous hands from time to time when a bull market begins.