Remember when they told you Gold was a hedge against inflation?
It wasn't.
Remember when they told you Gold was a safe haven asset?
It wasn't.
Remember all those times the Gold bugs made up fairy tales about future price appreciation for their rocks?
It never happened.
And so here we are. Well over a decade later, Gold prices are actually still down 6% from their 2011 highs. Silver is somehow still down over 50% from those highs.
Think about the opportunity cost of owning precious metals instead of pretty much anything else.
Contrary to popular belief, I don't know what the market is going to do next.
I have no way of possibly knowing if the S&P500 is going to double from here or if it's going to get cut in half. Gold can go to $5000/oz or $5/oz. Crude Oil can go to $250/barrel or $2. I just don't know.
We all have our 'opinions', sure. I mean, how can we not? We're humans right?
But we're making decisions with unknown information.
Focusing our attention on buying stocks over the past 5-6 months has paid very well. This is especially true in the stocks that have been showing the most relative strength this year.
The laggards remain laggards. The losers are mostly still losers.
The breadth improvement, however, remains in place.
Rotation overseas continues to broaden.
It's gotten harder and harder to make money from the short side since this Summer.
Generally speaking, more stocks are going up than going down in bull markets.
And sure, there are a lot of different ways to quantify it, but this is really the gist of it: Are more stocks going up or are more of them going down?