Copied verbatim from another blog I follow. The one who wrote the following was, I think, the closest yet in calling the bottom in PM stocks. Let's see if it holds, as described below:
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"We have another shot at getting that bottom low between today and Monday, if Paulson doesn't make a mess out of another bailout and trigger for derivative defaults!
Anyway, here's what we need to see.
1. .383 fib retracement of the entire gold bull market in 740 area has to to hold on a weekly closing basis.
2. Bernanke needs to get off his tuckus and...crank the PUMP. M3 money growth is stagnant and ROC is tanking:
http://www.nowandfutures.com/images/...
And talk about ugly? Look at the different categories of credit:
http://www.nowandfutures.com/images/...
Wrote post after post back in January about how Bernanke was way behind the curve. He's even slower this time. Jeez Louise! He can't get his gun outta the holster. Meanwhile his buddy Hank can't stop shooting himself in the foot. What a crew?!
3. They need to rescue Lehman...FAST.
Come on boys, you've had your dollar rally. Now debase the living daylights out of it unless you want to see crushing deflation worse than the 1930s"
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N
