Morning Sumo, the media promoted talking heads are coming from a different direction now, they seem to be less fixated on the taper issue, now obsessed with fundamentals, claiming gold is in a secular bear market that will continue for 2 to 4 years. I read an interview posted by an online magazine with a college professor, who seemed to have originated this sentiment, however, in his opinion the major economies will collapse in 4 to 6 years and gold will be valued at $19,000. He said on a unit basis, gold as compared with the DJI is undervalued by 10 to 1. The interview was rather long and intensive, but it appeared to spark some copycats, who choose to cherry-pick the negative and forego the positive. I read it on my iPhone, I'll try to dig it up later and post the link. I'm glad that you exited the position with some cashola, as for me, I'm disappointed that we had no follow-through to earlier gains and rather perplexed, as well, at yesterday's and today's action.
SA
PS- My sentiment is unchanged, I was reviewing some of the math posted, which I hope you did not construe that I agree with. I try to keep an open mind and appreciate the opinions of others. Yes, I still believe in the gold story, but nonetheless, if and when gold crosses 1180, I will exit my Nuggie position and re-evaluate this insanity. :)
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