Brett Arends Compares Gold Bull To Stocks, And Finds Stocks Wanting

As I write this post, the most-read article in Marketwatch is an opinion piece by Brett Arends, "Gold run a reason to be wary of the stock market." He describes, fairly accurately, the state of the gold market when the bear ended in 2001 or so. In a word, it was comatose. He concludes that the long-term bear market in stocks isn't over, because we haven't seen the same level of apathy towards the stock market yet.

He's quite right about few people being around when gold finally bottomed, and he describes it well. My own believes gibe with his regarding the stock market, although I think "range-bound market" is a better descriptor. March 2009 may mark a multi-year low, but I believe there will be another near-generational buying opportunity in several years when valuations are a lot better.