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<p>[QUOTE=&quot;Bluesboy65, post: 1107660, member: 23329&quot;]In a previous post (#28, this thread) I mentioned a story about the Joe Kennedy and the shoeshine boy with the hot stock tip.&nbsp; This was in response to someone who felt like silver was currently over bought.&nbsp; I read an interesting article written by James Turk this morning where Turk describes three stages of a secular bull market:</p><p><br /></p><p><a href="http://www.kitco.com/ind/Turk/turk_feb142011.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.kitco.com/ind/Turk/turk_feb142011.html" rel="nofollow">http://www.kitco.com/ind/Turk/turk_feb142011.html</a></p><p><br /></p><p>Here is my summary of the stages in the article:</p><p><br /></p><p>Stage 1 - market that is reaching historic highs and is getting “growth attention” (early adopters/visionaries)</p><p>Stage 2 - market breaks over historic high and sentiment turns to “disbelief and skepticism” that it can go higher; but it does.</p><p>Stage 3 - market is “no longer a relatively good value”.&nbsp; This is where the disbelievers begin to capitulate and start piling in.&nbsp; </p><p><br /></p><p>In the article Turk says with regard to the silver market we are currently in Stage 1 and gold is in Stage 2.&nbsp;&nbsp; Of course no one wants to get caught buying in Stage 3 and this is an understandable and common fear revealed by many throughout these threads.&nbsp; Agree or disagree I thought the article put some nice structure around the analysis of a secular bull market. </p><p><br /></p><p>Regards,</p><p><br /></p><p>Bluesboy65[/QUOTE]</p><p><br /></p>

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