Friday, December 2, 2016

Is gold about to tank?

Remember what happened when some now forgotten idiot told us to "just be honest with ourselves" because gold is a pet rock?  Remember how I indicated that these are just the kinds of statements we should expect near important bottoms?  And then gold of course, but especially the gold miners shot up big time...

Well, Bloomberg is now out with their version of "current trend will probably last forever".  As you can see from this article, they expect gold to take a "further thumping".  I personally don't think so and in fact I model that we are at or near an important bottom.  But Bloomberg has the bully pulpit and therefore they must be the experts in all this so let's all herd together in the direction that they think we should be going.

Or not.

Sign up for my charting service if you want to know exactly what my detailed models say about all this.

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