Thursday, August 25, 2011
Rosenberg Daily - Gold: Good Entry Pont Here?
In this secular bull market (it is not a bubble and the people that say it is are neophytes — bubbles are driven by greed; gold is being driven by fear and rightfully so in many respects), tests of the 50-day moving average (now at $1,630 an ounce) have proven time and again to have been very nice re-entry points. Plus, one should expect margin calls to accelerate over the near-term. But for those with dry powder, this will prove to be yet another in the long list of buying opportunities that have cropped up periodically during this 12-year secular uptrend.