There is no denying that the last three years have been disappointing and difficult for our readers. It is hard to be invested in a major “correction” like the one we are experiencing in gold and silver. But corrections are the way markets work. There is a great deal of evidence, that we present frequently, that this “correction” was orchestrated. Well, regardless of what the cause was, corrections are normal and this one is well within the boundary of a normal correction.
The key point here is that this is just a correction and not the end of the bull market. I believe that what has occurred up until now is just the early stages of a bull market that will astonish even the most optimistic of our readers. Most of us will be guilty of selling out way too early, me included. That will be a consequence of holding on through this correction and posturing that we won’t let it happen again.
Be encouraged that Jim Sinclair, who is usually right about the direction and timing of the gold market, says the bull market will resume this summer. And then there is the guru we love to hate – Larry Edelson. He was correct in calling the correction but his target of $1000 gold will not be met. (If gold holds up above $1267, the bottom is in.) Well, Larry has turned almost bullish and he now says, “I am 100 percent confident precious metals will bottom this year and resume a new leg to the upside.”
Will Sinclair and Edelson be right – about the timing? I think so. My portfolio can use a large dose of good news.
Read what Edelson has to say in the featured article, below:
The latest action in gold, silver, and more! – www.moneyandmarkets.com
Larry Edelson | Monday, May 12, 2014 at 7:30 am
A few weeks ago, in my March 31 column, I told you that …
>> I am 100 percent confident precious metals will bottom this year and resume a new leg to the upside.
>> That the extreme emotions right now regarding gold and silver are typical at major turning points.
>> That all the underlying fundamental, cyclical and technical conditions for a new bull market in gold and silver are in place. The most important: The rising tide of the war cycles and global geo-political stress.
I also told you that while the short-term swings are always extremely difficult to pin down — and even far more difficult when entering a period where a major trend turn is expected …
I will get you as close to the bottom as humanly possible.
Naturally, subscribers to my Real Wealth Report and the members of my trading services will get the first buy signals. I’m sure you understand why.
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