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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 386.01

+1.6%

Nov 12 4:00 PM EST

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To: TH who wrote (12377)	3/7/2008 7:02:22 AM
From: TheSlowLane	Read Replies (1) of 29622

TH - Where will we be by the end of the year? Is the volatility we are seeing now just a faint glimmer of what is ahead? I just watched Frank McGee, a metals trader, interviewed on Bloomberg. His playbook says that if the Fed remains accommodative then we will see $130 oil by year-end and gold at $1200-$1400/oz. He says long-term support is at the $940-45 level but a break above $1,000 will be followed with a euphoric spike. In this scenario, he sees gold having $150-$200/oz intraday price swings by year-end. The interviewer asked what happens after that. Frank was a little vague, but noted that the thing about inflation is that once it gets underway, it is very difficult to get under control. Cheers, tsl p.s. I know how Livermore's story ended so...thanks, but no thanks!

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