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Subject:  Re: Gold - Updated TA Date:  12/19/2012  3:41 PM
Author:  MDCigan Number:  41188 of 41341

Did you see Jim Rogers interview with cnbc? He is cautious and talking caution, saying GOLD had not had a meaningful correction (except 2008) in its 12 year bull run. He is thinking a 20 to 30% correction is due.

I haven't seen the interview yet. I think Jim is an astute trader, and he may be right about an upcoming 20-30% correction, but he is factually incorrect about no meaningful correction in 12-year bull run except for 2008 unless he is drawing his line right around 30% which seems pretty arbitrary. The drop in 2008 was from 1034 to 681 peak to trough which is a 34% decline. Seems to me that both the 2006 and 2011 corrections were meaningful. The 2006 drop was 732 to 546 peak to trough which is a 25% drop which isn't too far from the size of the 20