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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST
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To: pater tenebrarum who wrote (41371)2/25/2000 6:36:00 PM
From: Crimson Ghost  Read Replies (1) of 99985
 
Heinz:

An interesting quote from an interview with Michael O'Higgins, author of "Dogs of the Dow." He is very bearish on stocks and very bullish on bonds. And why is he bullish on bonds?

".. the main indicator is the price of gold. The price of gold until this year had correctly predicted the ensuing year's direction of long-term interest rates 25 out of the last 30 years. Now its down to 25 out of the last 31 years" (the indicator failed last year)

I would still put that prediction record against any economist, dead or alive. Second on the 5 previous occasions when it got it wrong going back to 1968, it got it right the following year which bodes well for the bond market for the next 12 months"

This guy apparently does not have a clue to how the boys manipulate the gold market. If gold once was a good leading indicator, that is no longer the case. But the fact that the gold price trend does influence people like this about the likely course of the bond market gives the powers that be a big incentive to keep gold down quite apart from supporting the huge short position of the bullion banks.

This guy may be right about bonds, but for the wrong reason.
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