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Is your plumber talking about investing in gold? If so, beware!

|Includes: ABX, AEM, AUY, GDX, GG, SPDR Gold Trust ETF (GLD), UGL, XHB

Private Wealth Adviser:

It happens near the top of any bubble.

Blue collar folks begin to talk about how they are making a killing in "insert bubble asset category here".

In 1999, I sat next to a threesome at a diner in Paducah, Kentucky. They were discussing the relative merits of investing in and The men having this conversation looked as if they were taking a break from installing cable TV into people's homes.

Don't get me wrong. Blue collar professions are highly noble and respectable. But during bubbles people who have zero expertise in the current bubbled up asset class tend to get carried away with the possibilities of quick riches.

In 2005, how often did you read about schoolteachers taking time during the weekend to flip houses in Phoenix?

In 2007, did you notice your neighbors trading in their SUVs for small cars because they just knew that oil would crash through $200 per barrel?

Right now, ask yourself what is the hot investing topic?

It's gold. And you should know by now where I think its heading next.

After all...I heard the guy who changes out the water cooler jugs at the office talking about how he is moving his retirement money 100% into gold funds.

Keep alert, traders!

Disclosure: No Positions in any of the stocks or ETFs mentioned in this article or its tags.