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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: zamboz who wrote (40520)1/29/2013 10:28:54 AM
From: Rarebird4 Recommendations  Read Replies (1) of 48092
 
I've had a price target of 1570-1600 on the S&P for quite a while before the primary secular bear resumes and the S&P falls to marginal new lows below 666.

As for the argument that bond outflows would fuel a small cap mining rally, I suppose that's possible, but the only rally that's been fueled so far has been the major indices.

I have a close gold bug friend in NY who swears that the miners will catch up with the major indices before the cyclical bull is complete.

One can analyze this to ad nauseam, but the fact remains by any historical standard that the miners are dirt cheap at current levels.

I feel that is quite possible that the big money will continue to do whatever is necessary to force the small retail player to sell out of despair and hopelessness before any substantial rally begins,

Never underestimate what the big boys will do to accumulate shares. A 10%-20% drop in price means a lot to the small player, but relatively nothing to the big players.

The Smart Money has the courage of his/her convictions because he/she sees the accumulation as price drops. Positive money flow as price drops is a very bullish intermediate signal. Don't get caught up in short term swings. Price levels here are big winners moving forward.
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