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Posted in Bears Chat, Best of the Forums, Other Guys

Chart of previous gold panics; Sinclair loosely estimates next at $2100

http://www.jsmineset.com/wp-content/uploads/2012/01/GoldPanicPeriods.pdf

Sinclair links ContraryInvestor

Excerpt:

For now, the thinking that gold’s break of the 200 day moving average is the sure sign of bull market death is white noise. …gold pierced its 200 day moving average to the downside in seven of the last nine years (inclusive of 2011). In fact the only two years of the last nine not to witness this technical break were 2009 and 2010 – the two years in which we witnessed the US Fed print the largest amount of money on record.

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Note this means that each of those 200day line piercings has been a screaming buy. Keep in mind that I am an idiot, know nothing about investing, seek professional help before listening to any advice from me (unless you want to buy timberlands), do your own due diligence, etc..

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