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Message: Where are we in this gold bull market?

Where are we in this gold bull market?

posted on May 28, 2008 06:56AM
Let's keep in mind where we are. $900 is nothing. Remember back in the 70's, gold started at $35 en route to its short-lived high of $850 before settling down into it's $300-500 trading range. Still, gold started this bull run at around $250. For argument's sake, let's just do what James Turk did and call it $350, by adding a zero to $35. Basically that means we are at what was equivalent to $90 in the 70's. ($90, the equivalent to $900 today) This really is a very insignificant rise from where it will most likely end up, but it very significant in that it demonstrates that it is at a point now where it can no longer be controlled. I am inspired by the great W.D. Gann and his analogies to natural processes. I, being a physician, like to draw analogies to natural biological processes. Take a look at a bacterial infection. A skin infection called cellulitis for example: Put a patient on an antibiotic when it is small and the infection is relatively easy to treat when it is just a few centimeters of redness around an infected sore on the arm. Wait a week and that redness has spread to the entire arm. You can still treat it, but it takes IV antibiotics now, and in much higher doses. Much more expensive too. Wait long enough and there is no treatment. The price of gold is "growing" like this infection, but the "antibiotics" that those trying to suppress it are using are becoming more and more expensive and less and less effective. I know what's going to happen with the gold price, because I watch patients infected with "the gold price" get sick and die everyday. There is no medicine that is going to cure this for the manipulators. Bull
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