Check out this bubbleicious headline in Wall Street Journal:
“Fear and Greed Have Sales of Guns and Ammo Shooting Up”
When the mainstream media starts reporting on a trend….It’s time to hop-off.
Gun stocks are looking frothy, but they could likely have one final blow-off top….
A few choice quotes from the article:
Mr. Works ran ads on local television highlighting fears of a weapon ban before and after the November election and says he’s planning a new spot that promotes guns as a good investment. “You can buy gold or silver, but they go up and down,” he says.
Mr. Chambers, the door salesman, figures he has spent $40,000 to $50,000 collecting guns and ammunition over the years. He says his 401(k) has been decimated in recent months. Real-estate values in his neighborhood have plummeted. His former employer went out of business. Medical benefits at his new job cost “twice as much and aren’t as good.” He’s worried about supporting his wife and two young children. Even without a new assault-weapons ban, he figures he could sell his entire collection at current market rates and live off the proceeds for a year. “They’ll be worth what I paid for them at least,” he said. “I look at it as a savings account.”
