Livermore, who was also known as the Boy Plunger, is famed for making—and losing—several multi-million dollar fortunes and short selling during the stock market crashes in 1907 and 1929.
One of Livermore's core trading rules was...
Be Right and Sit Tight
It's simple...
Invest in a growing trend and have the courage to hold long-term for really big gains.
Clearly, the gold bull market is one such growing trend. And investors who "sit tight" will undoutbly see big gains by owning the precious metal now.
Buy Gold Now
The bull market has already pushed gold prices over 300% higher since 2001. And now with the world's demand for gold is starting to significantly outpace supplies, even higher prices are on the horizon.
During the third-quarter there was a colossal 10.5 million ounce deficit (worth $8.5 billion) in world's supply and demand of gold. World gold demand increased over 50% since the second-quarter while supplies dropped 64% year-on-year.
Gold demand, particularly in the investment sector, is currently at all-time highs. But estimates suggest that the world will only produce 76.8 million troy ounces during 2008. This represents a 9% decline in world gold production since 2001.
The world financial meltdown has forced the shut down of hundreds of gold mines around the world and slashed exploration and development budgets across the board. And the near-term future of new investment still looks pretty grim.
source: http://www.goldworld.com/
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