Gold $1,096
For those interested in gold, keep $100/$1000 in mind. I believe these figures are the risk/reward for gold going forward. The downside worst case scenario is $1,000 and best upside potential is $2,000.
On Major Moves, Grandich has been very right and not only saved many investors fortunes, but expanded them dramatically. On November 3, 2007 at the MoneyTalks Survival Conference, Peter Grandich of the Grandich Letter warned that “an unprecedented economic tsunami will hit American beginning in 2008”. Peter advised publicly to short the US market two days from the top in October, 2007 and stayed short until the last week of October, 2008. He began to buy stocks in March 7th, 2009. He also bought oil and oil related investments near the lows after the dive from $147…..go to visit Peter’s Website.
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I became bullish on gold back in March of 2003 with gold not too far away from $300. I’ve maintained an aggressive position in it albeit on a few occasions calling for a serious correction. I believe while we’re in one of those corrections, gold remains in its greatest secular bull market ever.
I truly believe I’ve managed to stay on the right side for 9+ years because of two key reasons:
I concluded a long time ago that the vast majority of people in and around the financial services community (including the media) will always be slanted against (and in many cases hate) gold because they make their livelihoods thanks to financial assets. Since gold goes against financial assets, gold itself is not their cup of tea.
Despite my enthusiasm for gold, I’m not a gold bug. I don’t sleep with it under my mattress. I don’t hold candlelight vigils around it. I don’t believe the world is ending tomorrow, next week, etc. (It can’t end until the NY Jets are in the Super Bowl again and about to score the winning touchdown). To me, it’s just another asset class that just happens to have numerous bullish fundamentals that are supported by long-term technical chart patterns.
When you realize how slanted the vast majority of people are against gold doing well and how there’s also a small but boisterous group who love it more than life itself, the better you will be when trying to figure out where gold is heading. These factors will help you grasp how biases advice on gold really is from both sides of the playing field.
Let’s cut to the chase on why I remain very bullish long-term.
….continue reading HERE.