>> Therefore, I will deem Team George the winner if (kindly note that I omitted the "when") $700/oz is accomplished. <<
Ridiculous. There are very few gold bugs who advocate a long term approach (multiple years) to holding gold. I think most would take quite a few profits after 100-200%+ moves. Most of the gold bugs on these boards are relatively new. I have only been involved in gold in the last 2+ years. To say most gold bugs have been holding for the past 6+ years waiting for a turn is silly especially when many good traders use stop loss points.
Zeev has missed out on plenty of easy doubles, triples and more due to his macro view of gold. I think victory has already been had by the gold bugs. The question now becomes how much more profit is out there? Anybody with an ounce of TA skills could have seen this move coming. I think Zeev has made some good tech calls, but his views on gold have prevented him from claiming some very nice profits.
Gold has outperformed every other sector the last 2 years. You could have been fairly sloppy and still made substantial money. It certainly beats trying to time long positions in a down market. Gold indexes will see new highs once $360 is broken. Only a matter of time imho when you look at the fundamental and technical underpinnings.
Pull up a 10 year chart of gold. Pretty damn clear T/A. The recent consolidation/breakout of the XAU and HUI was also very clear. I expect at least 400 before this run is over, but much more could be achieved. However at 400 I will probably scale back and let much smaller position run. Currently about 50% gold stocks.
Currently long KGC, WHT, MNG, BGO and PAAS (in that weighting).
