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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (4070)	12/29/2003 10:38:27 AM
From: da_cheif™	Read Replies (1) \| Respond to of 110194

funny thing about the markets ...some look for the markets message from other sources then the market itself....if you want the message from the market you go to the source...you wanna know wat the bucks gonna do...ask the buck....u wanna know what golds gonna do ask gold.....you wanna know wat the markets gonna do...well....and that is why most cant understand the market ...they ask questions like......why isnt the market goin down with gold going up....and why doesnt the weak dollar kill the market...etc etc.....even those who are reputed to be geniuses in this department.....you know EW experts....."The dean of market letter writers"...RR....lol....cant figure it out.....as we can see from this RR still bear in the box crap......smart.....not..richard russell ignores the message of the market....his PTI..... dec 27 03.... INVESTMENT POSITION ? The bear remains in the box. Why? Because in the big picture, from the standpoint of the primary trend, it remains a bear market. Why? Because the market from a valuation standpoint never gave the slightest indication at the October 2002 low that a bear market had ended. In fact, at the October 2002 low stock valuations were still ridiculously high, so high that the actual statistics appeared more like a bull market top than a bear market bottom. On that basis, I concluded that due to the Fed?s extreme manipulation of both the money supply and interest rates, what we were seeing was an extended upside correction in an ongoing bear market. We saw this same action during the bear market of 1966 to 1974. The only difference, in my opinion, is that the final wind-up of this bear market will be worse than what we went through in 1973-74. I say that because instead of allowing the bear market to correct the excesses of the preceding bull market, the Fed, under Greenspan, has simply ADDED to the EXCESSES. The true bull market now is the bull market in tangibles, the leader of which, is true intrinsic money ? gold. This is why I have recommended that my subscribers begin accumulating not only gold itself but gold shares. I continue to recommend that my subscribers accumulate gold and gold shares. Technically, gold items are now far above their 200-day moving averages. This may mean that a period of backing-and-filling and consolidation is needed. Gold and gold stocks have simply moved up too far too fast. But the primary bull market in gold continues in force.