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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (87782)	10/6/2008 10:53:32 AM
From: Steve Lokness	Respond to of 116555

Rarebird; There are amazing bargains available in Gold Mining land I chuckled. There are amazing bargains everywhere .....now. steve

To: Rarebird who wrote (87782)	10/6/2008 12:22:52 PM
From: Real Man	Read Replies (1) \| Respond to of 116555

Yeah, we bugs got killed. Kudos for that Summer call - you were absolutely right. I did not expect gold to trade below 800, nor did I expect gold stocks to get killed as much as they were. Signs of weakness were out in February as physical PM market was extremely weak, so I did expect a drop. Now the opposite is happening, and timing for the rise is uncertain, as funds are still liquidating their gold and silver futures longs. The physical market is extremely strong and gold does have strong support at 800, I believe. A lot of safe haven buying, while jewelry demand remains soft. Physical gold and silver are both trading at a large premium to futures.