Agree on the nut cases. And agree on miners. A couple of stories out today on higher costs and the need to control costs - what that ultimately means is less production and that means higher prices for gold (and higher prices for gold means higher prices for mining stocks). The algorithms will catch on to this soon.
Actually the bearish stories are starting to slow, and there are more and more bullish stories coming out. This is a sign that some of the big shorts have covered and have gone long.
What they said almost sounds like they run a physical gold ETF that charges a premium to buy....
News articles this morning are predominantly bullish for gold. The trading algorithms must have covered their shorts. Now the only losers will be the last shorts to get out.
Not only China, but you will soon see Obama, Reid, Boehner, Cantor, and Pelosi start their usual finger pointing and name calling over the budget (or lack thereof).
Plenty of weird 'news' stories out there too, also bashing gold. Making illogical arguments as usual. I'm just waiting for the Asian buyers to see gold at these prices, and for the sequester fights to begin.
Lots of paid bashers on board today. You can tell we are at a bottom by the increased frequency and the even more outrageous arguments they are using. Given the reduction in CME margins, I am glad we have so many shorts right now. Once the algorithms spot the imbalance, the shorts will be the fuel that is needed for the run to $1700. I'm buying more gold today.
Do you really mean "Being paid to post negative comments about Gold on Yahoo boards is really boring, but it helps pay for the burritos I eat for lunch"
Hey bored - no one ever lost money underestimating the intelligence of the average retail investor...
I'm loaded and waiting to see $1700, with liftoff beginning sometime between tomorrow and early next week. All the news, technicals and macro data is bullish for gold.
Just use Gartman as a contrarian indicator. I doubt that he is short, but he is very likely interested in buying gold at a cheaper price - especially with all the political events coming up.
If Obama sounds anything like his inauguration speech, gold is going to $1700 tomorrow. Lots of hard line free spending without cuts - guaranteed bullish for gold.
Then move over to a platinum board. Or you could just as easily haunt the Amazon or Apple boards and ask them to sell their stocks and buy platinum!
Yellen is a dove, so expect the Fed to keep free money around for much longer. There is no fear of letting up on the gas pedal anytime soon. Bullish for gold.