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Author: Matt1344 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 36916  
Subject: Why Gold Has a LONG Way to Go Date: 11/6/2009 4:22 PM
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My experience with friends and family pretty well matches up with the authors... I'm the lone voice in the wilderness ;-)

http://www.theaureport.com/pub/na/3243

"Why Gold Has a LONG Way to Go
Source: Jeff Clark, Casey's Gold & Resource Report 11/04/2009

A couple weeks ago, I had my TV tuned to a business show that loves to give predictions on the markets and the economy. On that day, one of the program's regular guests declared it was time to "short" gold, that it had reached its top, and that the precious metals bull market was over. I'll try to be nice in my rebuttal.

So, what was his reasoning: Technical analysis of wave counts? Falling demand? A telling ratio? Sun spots? No, he noted that upscale department store Harrods in London began selling gold bullion and coins "over the counter," ergo, the top was in. Nice try, "Bert," but this is amateurish. You really shouldn't be playing with the big boys if that's the basis of your call.

Yes, gold will someday put in a top, and because the gold price is largely determined by psychology, the end of the bull run will be marked by behavioral types of signals. But calling a top in gold now is like declaring that WWII was over because the Allies won a small skirmish in early 1942. To have made such a statement, based on a small, isolated event, ignored the greater forces that had yet to play out and would have made any journalist or military strategist look foolish indeed.

And here's why Bert looks equally silly today…

[...]"


Regards, Ken (Long gold & silver)
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