Maybe it’s the unshakable image of Peter Schiff on Fox Business pulling a Hersheys-like gold bar out of his wallet — and demonstrating that much like a chocolate bar — you can break off smaller $50 pieces! Maybe it’s visions of bitcoins, tulips or beanie babies dancing in my head?
Whatever is dancing, although we generally reserve these long-term RSI breaks and disruption zone charts for stocks, Gold (GLD) … this one’s for you.
I can’t shake the image of how UNPROTECTIVE Midas was during the 2008 meltdown. Sure, it held up fairly well for a scant few months following Halloween 2007 — but it gave up the ghost a scant few months thereafter, rendering this asset allocation recipe pretty unreliable when it was needed most. (To be fair, Midas was far from alone in disappointing by asset class.)
So my question is, “What makes you believe that Midas would be any more protective during the next market meltdown?”