- Because I was once a “legend in my own mind” and have been wrong many times and loss millions of dollars more than once, I feel qualified to note when I see someone else who fits the mold. Dennis Gartman is without a doubt one of “the” best marketers I ever known, bar-none! Anyone who can get himself so much coverage despite a poor track record; while belittling a group he’s been two-faced with, is certainly a master of something. But when it comes to gold, I think he’s little more than a contrarian indicator. Combine this with TOUT-TV continuously featuring him without any explanation of past forecasts gone wrong, well, I’ll take my chances and remain aggressively long gold thank you. I do think however, that western governments have been behind much of the take down in gold and with the FED possibly softening its QE position tomorrow, gold can make a new low. Such a low would actually be a positive as there are many positive divergences but we will need to live through all sorts of bearish rhetoric.
- Speaking of gold, this was an excellent article from last week and so was this.
- And finally on the matter of gold:
Here’s what Americans wait on long lines to do- spend, spend, spend and get deeper and deeper into debt.
What are Chinese consumers doing meanwhile? Read