http://www.bloomberg.com/news/2011-12-13/death-of-gold-bull-market-seen-by-gartman.html The metal, which traded at $1,666.30 an ounce at 2:43 p.m. in London, may decline to as low as $1,475, the economist wrote today in his Suffolk, Virginia-based Gartman Letter. He sold the last of his gold yesterday. Bullion has already dropped 13 percent from the record $1,921.15 reached Sept. 6 and $1,475 would extend that to more than 20 percent, the common definition of a bear market.
The Bernanke will save the day. http://news.businessweek.com/article.asp?documentKey=1377-aMf1IKd5w_4E-38AI1KIONU2RF8GA3PCVOMBEDS
I don't think of Gartman as having credibility on Gold. Mainly because he's all over the place and is the sort of pundit who will seed comments that will be right whatever the outcome. Peter Schiff called him on a bad gold call in a recent tv interview and Gartman tried to deny it but backed off when Schiff said "you can google it". His reaction to that showed his phony approach, imo, when he sarcastically apologised for not being bullish gold for the last 15 years. Something like that. Wouldn't just admit that he was wrong - which admittedly would be hard to do as a pompous pundit on tv. And at that interview Gartman said he was bullish gold. Been waffling and confusing people for years. Anyway found that interview and the exchange is about 3.2 mins in. [youtube]http://www.youtube.com/watch?v=O6q1cOACsc0[/youtube]
Dennis Gartman also predicted the gold bull stopped in 2008: http://www.hardassetsinvestor.com/brads-desktop/799.html
ROFLMAO reminds me of the young bull old bull joke Young Bull " com'on let run down to the heifers and have our way with one of them" Old Bull" whoa up there young fella no need to rush, when we can just stroll down and F@#k all of them" :lol:
Gentlmen please ! Dont confuse paper gold prices with physical. Can you buy it at these prices yet? No.
Is the gold bull really dead? nope, just having a nap! this afternoon our bull started to wake up again!!!
Another great article from the Daily Reckoning. http://www.dailyreckoning.com.au/gold-down-5-per-cent-thank-you-mr-market/2011/12/15/ Yet another writer talking about how the physical & paper markets will diverge. Something frequently mentioned these days. Those of you familiar with the evocative writings of the anonymous "Another", will know that he said this would happen 14 years ago... and then the lawsuits would breakout amongst all the paper gold players.
Peter Davis's phone started ringing at 8am & all sold out by 9am He doesn't open till 10.30am I picked up a 1/20 1988 Panda for $88 ,only because it was at the bottom of a bag he thought was empty & how small it was
Bottom line is, if you think the bull market is at an end, why are you still holding your metals? If you honestly think it's a dead horse and the only way from here is down, may as well sell off and move to the next big investment market which is.... um..... is..... Fuck, I dunno what else you'd invest in to safeguard your buying power nowadays. May as well stay put?
