A late note: Gold was getting whacked Thursday night, but the damage was nominal. To get past the two requisite lows on the lowly 15-minute chart would require a print at 1038.90, nearly $10 below current levels.
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Just a reminder that we have a score to settle with Google if and when it gets to a 553.87 target flagged here a while back. We’ll almost surely use a camouflage entry to avoid pain and risk to the extent possible, so stay tuned.
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Are U.S. Stocks and Gold About to Go Ballistic?
by Rick Ackerman on October 11, 2009 10:34 pm GMT · 8 comments
Are U.S. stocks and gold about to scream higher? Our good friend Chuck Cohen, a NYC-based financial consultant specializing in gold shares, thinks so. Although Chuck’s outlook is more dramatic than our own, we find his arguments quite plausible. Here he is, a bear turned unapologetically bullish, with some advice for investors — especially those who have been dithering over taking the plunge in mining stocks:
Since I have felt that the markets of the world are at a very important junction, I wanted to put out my revised views that connect with the near-term price of gold. With the stock market’s powerful, seven-month-old recovery closing on DOW 10,000, and gold bursting through $1000, many investors are anxiously wondering what’s next. Most seem to be very wary. I was a bear myself until a few weeks ago but recently reversed this stance. Yes, I know, there’s nothing more bearish than when bears start turning bullish. And I am » Read the full article