O.T. Re: Ed Steer this morning - correction?
posted on
May 20, 2011 11:04AM
'Correction' is a misnomer. It is a correction of "The Correction".
PMs are still way under priced and their appreciation is The Correction to the under valuation.
Calling it just plain correction is a denial that PMs should correct to the up side, i.e. true value.
If the price retreats it is price suppression and perhaps some profit taking but with central banks now not selling but buying, The Correction is getting fresh legs.
I laugh when I see the word used in the above misplaced context. Cheers.