It is thus far a great opportunity for Gartman to cement his guru image, Roubini to tease gold bugs by Twitter, Richard Russell to ponder the dangers of making grandiose statements like "Instructions: sell all stocks except mining stocks" and John Nadler over at Kitco to do whatever that shtick is that he does. Gold's bull market is not over until its nominal chart says it is over.
Ben Bernanke and his yield curve meddling may not do anything other than get a lot of people on one side of the boat. Here is a picture he has painted thus far... A picture of Goldilocks, as short term interest rates out perform long term ones; i.e. the economy is presented as enjoying low inflation, prudent policy and low long term interest rate all at the same time. Wow, great trick! Just don't look at that pesky ZIRP behind the curtain that he refuses to stop clinging to.
Still the chart is the chart and gold needs to reverse vs. the stock market or else evil wins. Gold is as bullish now on a risk vs. reward basis as I can remember. Think I am prone to unrealistic expectations, hope or baseless optimism? Nope, there was a time to have been guarded and this ain't it.
BTW, the blog posting has been light due to NFTRH email updates, both on the bigger picture and the short term, being anything but light lately. Got to have priorities.
http://www.biiwii.blogspot.com
http://www.biiwii.com
Ben Bernanke and his yield curve meddling may not do anything other than get a lot of people on one side of the boat. Here is a picture he has painted thus far... A picture of Goldilocks, as short term interest rates out perform long term ones; i.e. the economy is presented as enjoying low inflation, prudent policy and low long term interest rate all at the same time. Wow, great trick! Just don't look at that pesky ZIRP behind the curtain that he refuses to stop clinging to.
Still the chart is the chart and gold needs to reverse vs. the stock market or else evil wins. Gold is as bullish now on a risk vs. reward basis as I can remember. Think I am prone to unrealistic expectations, hope or baseless optimism? Nope, there was a time to have been guarded and this ain't it.
BTW, the blog posting has been light due to NFTRH email updates, both on the bigger picture and the short term, being anything but light lately. Got to have priorities.
http://www.biiwii.blogspot.com
http://www.biiwii.com
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