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drooling and lickin' their chops at CNBC

MoneyLAMoneyLA Posts: 1,825 ✭
in Precious Metals
there were several on air comments made today, tuesday, about the run up in gold and that gold would soon break 1000 and that would be big news. it gives you the idea that cnbc is just drooling at the chance to present some special reports on gold -- perhaps reports that they already have produced in anticipation.

so... youve got to wonder what other mainstream media have "gold cover stories" ready to go?

and if they do, does it mean the end of the gold bull?

as has been noted many time... when the bull smashing through the stock market page is on the cover of Time Magazine, the stock market bull market is over.
Cheers, Alan Mendelson
www.AlanBestBuys.com
www.VegasBestBuys.com

Comments

  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    I think there is a 50/50 chance that this market is young.
    The end of the market in AU will be when the idle 3.9 trillion dollars in money market accts has somewhere to go to and that might not happen for a while. When the fed starts fighting inflation by turning up rates....that is the time to lessen your holdings.

    My opinions change with the wind so don't plan your finances based on meimage
    Have a nice day
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I say the CNBCers will have to wait a little while. Since when are those guys ever right on gold market direction?....How about never. If Kramer is bullish then it's a wrap to take a break. Yeah, and Nadler is still waiting after 18 months to get his guys back into the market at <$650 gold. Good luck Nadz!

    This bull is young but there are too many bullish thoughts at this point, esp with the $1000 target dead ahead. In any case there are lots of fireworks left in this bull for the remainder of the year. $1200+ in 2009 still gets my vote. JS once said that it will take 3 attempts over $1000 to break it for good.

    Gold has either just finished it's first leg up or possibly started into the 3rd. In any case the strongest waves in this major move that began in November are still to come. I read a comment from the guy who does the "ski" signals and his shows 21 of 23 past patterns with this strength ending in corrections. The other 2 ended in chopping before a correction finally ensued. That's a good track record: 23 for 23. Toss in the fact that the banks hold 80% of all Comex shorts, the charts being sort of toppy in momentum, and the MCHammer and Ed McMahon superbowl gold sales, plus all the bullish articles popping up, it may indeed be time to take a break.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jmski52jmski52 Posts: 22,798 ✭✭✭✭✭
    I have it on good authority that when gold breaks $1,000 it will signal a bull market in gold. I forget where I heard that, oh - was it from you, LA?image

    I suppose that putting a gold bull on the cover of Time would be better than showing the dollar on a toboggan careening downhill towards a grove of trees.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JeremyDie1JeremyDie1 Posts: 2,383 ✭✭✭
    image
  • percybpercyb Posts: 3,322 ✭✭✭✭
    It appears there's much liquidation going on this month and next of world equities and currencies aside from the US Dollar and Japanese Yen. Gold is the safe haven and bond offerings from sound corporations. Looks like the run up in Gold, imho, will continue well into March at which time redemptions from hedge funds will end.
    "Poets are the unacknowledged legislators of the world." PBShelley
  • ProofCollectionProofCollection Posts: 6,050 ✭✭✭✭✭
    I don't think it will be long before the financial shows are touting gold. They are scraping the barrel for news about performing investments, it's only a matter of time before they "take a look at" gold/PMs. I think most of the audience already knows that anyone in the market lost 40% and anyone in gold is probably ahead of the game, if not about even.

    $976 will be a tough level to break though and after that it should sail to $1025+ easy. My vote is $1000+ by the end of this week, if not next.
  • ProofCollectionProofCollection Posts: 6,050 ✭✭✭✭✭
    I also should probably add that I think the world could be on the brink of an event that may push gold up $500-1000 or more in a day. The collapse of some European economy could do it, as well as some new terrorist attack. I'm not saying that such an event is imminent, but the probably seems to be increasing greatly ever week.
  • clouisejewelersclouisejewelers Posts: 329 ✭✭


    << <i>there were several on air comments made today, tuesday, about the run up in gold and that gold would soon break 1000 and that would be big news. it gives you the idea that cnbc is just drooling at the chance to present some special reports on gold -- perhaps reports that they already have produced in anticipation.

    so... youve got to wonder what other mainstream media have "gold cover stories" ready to go?

    and if they do, does it mean the end of the gold bull?

    as has been noted many time... when the bull smashing through the stock market page is on the cover of Time Magazine, the stock market bull market is over. >>



    I disagree. Very few people actually own gold for investment at this point. The vast majority of people either have no investments or have all their money in stocks, real estate, bonds, CDs, etc. CNBC and the like have done a very good job of training people to give all their money to banks and wall street. DECADES of indoctrination will take a long time to break. Until you see millions of ordinary investors piling on the gold bandwagon it is not over.

    In 1995, you had everyone running around saying "Buy stocks!!!". If you jumped on the bandwagon you would have dove very well for the next 4 years. In 2001 everyone was saying "Buy real estate!!!". Again, you would have had excellent gains for the next 4-5 years if you followed the crowd. I welcome CNBC, other TV news and the papers touting gold. This will be the beginning of the bandwagon stage. Everybody will start piling on and drive the price waaaaay up. It will not last forever, although the conventional "wisdom" will say it's a new paradigm, gold only goes up forever, etc. just like the same people said about stocks and real estate before. THEN it will be time to sell. That time is 3-4 years from now in my estimation, when gold is an order of magnitude higher than it is now.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I disagree. Very few people actually own gold for investment at this point

    More than you think. The major institutions, brokerages, and stock funds are the biggest holders of gold stocks. J6P might be invested in funds like Fidelity Contra or other diversified funds and have a very real exposure to gold, and other hard assets.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • ProofCollectionProofCollection Posts: 6,050 ✭✭✭✭✭


    << <i>I disagree. Very few people actually own gold for investment at this point

    More than you think. The major institutions, brokerages, and stock funds are the biggest holders of gold stocks. J6P might be invested in funds like Fidelity Contra or other diversified funds and have a very real exposure to gold, and other hard assets. >>



    I think he meant to specify that no people own physical gold in their own possession for investment at this point. You're right though, J6P probably does own hard assets indirectly through other funds and investment vehicles, but J6P didn't make an explicit decision to invest in PMs.
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    i think the % is very low for individual population

    gold as a relation to our present economic situation will certainly NOT be over with a cover piece on Time magazine.

    BTW speaking drooling, is Erin on vacation?


    image
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