9 replies to this topic

[Russ]

Mike Swanson's argument is that most of the Bloomberg terminal users hate gold now, the market crashed and rally's happen after crashes and the stocks he has picked have good p'e ratios and pay good dividends. He also bought the Greek stock market a year ago and is up 70%, so he has a good track record of making money as a contrarian. He thinks gold has put in a good classic test of the lows now.

As a side note I notice the Don "you know who" is now bullish gold too and my own ocillator gave a projection for an April low back in Feb.


http://wallstreetwindow.com/node/8232Mike Swanson explains why he has bought Gold stocks now

Edited by Russ, 16 May 2013 - 04:37 PM.

[Russ]

Note to site admin... Mark has offered sympathy to DW... aka the cheif, and he was allowed to post to the site, so why not take him off the 'you know who' restriction now?

[tria]

Mike Swanson's argument is that most of the Bloomberg terminal users hate gold now, the market crashed and rally's happen after crashes and the stocks he has picked have good p'e ratios and pay good dividends. He also bought the Greek stock market a year ago and is up 70%, so he has a good track record of making money as a contrarian. He thinks gold has put in a good classic test of the lows now.

As a side note I notice the Don "you know who" is now bullish gold too and my own ocillator gave a projection for an April low back in Feb.


http://wallstreetwindow.com/node/8232Mike Swanson explains why he has bought Gold stocks now

Russ, I'll add FNV which sems to act stronger than most, it rebounded most and fell much less in the last few days.

http://stockcharts.c...id=p74821721043

-tria

[Russ]

Looks good Tria, good relative strength on that one.


http://wallstreetwindow.com/node/8232Mike Swanson explains why he has bought Gold stocks now[/quote]
Russ, I'll add FNV which sems to act stronger than most, it rebounded most and fell much less in the last few days.

http://stockcharts.c...id=p74821721043

-tria
[/quote]

[fib_1618]

Still too early...patience. Fib

[Russ]

Still too early...patience.

Fib

When and where do you see Gold finding a bottom?

Here is some interesting info from Seeking Alpha...


The bear market in gold (GLD, IAU) has left three closed-end funds trading at abnormally large...

Friday, May 17, 3:55 PM ET
The bear market in gold (GLD, IAU) has left three closed-end funds trading at abnormally large discounts to NAV, says Morningstar's Cara Esser: GTU, CEF, and PHYS. Likewise, a small selloff in municipal (MUB) paper has left these muni CEFs at attractive values: NXR, MYD, NXP.

[fib_1618]

When and where do you see Gold finding a bottom?

Only when money starts moving back in is when you will find your bottom...not before.

Fib

[Russ]

When and where do you see Gold finding a bottom?

Only when money starts moving back in is when you will find your bottom...not before.

Fib

lol, like when will daytime start....'when it starts to get light'

[dougie]

LOL

[fib_1618]

lol, like when will daytime start....'when it starts to get light'

It's the best answer I can give for the question asked...anything else is a bias.

I did, however, make a post on April 20th with the downside Fibonacci targets in which we'll see if money agrees or not when we reach them.

For now...the trend remains solidly down until proven otherwise.

Fib