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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (46755)12/7/2005 10:59:29 AM
From: ild  Read Replies (1) of 110194
 
Date: Wed Dec 07 2005 11:46
trotsky (HoldGold, 9:04) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
" Summary: Whatever happens, it is good for gold!!!"

this theory is bound to shipwreck you one of these days. but it's still instructive that you have put this out there. it really is just a roundabout way of saying 'gold is in a bull market' - in a bull market, all news are bullish, even those that would normally considered to be bearish. conversely, in a bear market, not even the most bullish looking fundamental developments can stop the bear from unfolding.
this is also why fundamental analysis is so limited compared to technical analysis. technical analysis is ultimately the analysis of the market's psychology - and market psychology is THE most important 'fundamental' of any market. all other metrics are secondary, although it is of course of great value to be able to forecast future fundamental developments to support one's long term views. in connection with gold, this would for instance be the recognition of the fact that the central banks will continue to print wagon-loads of fiat money in order to keep the global debt-berg from collapsing. it's an exercise in futility, but it sure is good for gold.
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