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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (1022)	4/22/2013 1:33:50 PM
From: Goose94	Read Replies (1) \| Respond to of 202902

"We'd like to see gold crash down around $1,300... or lower," says Bill Bonner. "This would mark a real correction in the bull market. It's been going on for 12 years without a serious correction. Not a healthy situation. We'd like to get the correction out of the way... shaking out the Johnny-come-latelies and the two-bit speculators. Then, the final stage in the bull market could begin." ________________________________________________________________________________ "I remain bullish, though chagrined," remarks James Grant of Grant's Interest Rate Observer. Interviewed by Bloomberg and uncharacteristically wearing a long tie, Grant said gold's action yesterday and Friday is analogous to the stock crash of 1987 and the bond crash of 1994. In both cases, decades-long bull markets remained intact. "It seems to me that what is intact at the moment is the determination of central banks to print their way out of trouble -- which is terrifically bullish for gold over the long term." _________________________________________________________________________________ "In the past four years, gold is still up almost 100%," fund manager and Vancouver veteran Frank Holmes tells CNBC. A move as extreme as yesterday's has occurred on only 10 trading days in the last 10 years. "The math indicates that the metal will not stay at these lows." Indeed, he sees a "high probability" of a 15% rally over the next year. __________________________________________________________________________________ "Gold bullion prices have been subjected to a cleverly orchestrated bear raid," suggests another fund manager, the Tocqueville Gold Fund's John Hathaway. "Selling of paper Comex contracts on Friday, April 12, and Monday, April 15, totaled 1 million contracts, exceeding global annual gold production by 12%. The attack succeeded when the technical support in the low $1,500s per ounce easily gave way and led to waves of forced selling. "The volume is without precedent and has all the characteristics of a panic liquidation driven by naked short selling. There is no way to know where or when the liquidation will end, but it will inevitably do so, probably sooner, rather than later."”