Great post, WCG, and I agree it's time to move on to positive things. All have been duly warned about taking Carmine's rants with the proverbial grain of salt and we have positive indicators to look forward to. I've noticed even the naysayers have been capitulating of late . . .

Investment letter publisher Dennis Gartman declared Thursday that he was wrong about his bearish call on gold last month.

Writing in his daily investment letter, Mr. Gartman said he was reversing his position on gold, and now views the precious metal as being in a bull market.

“Gold is chasing steadily higher; it is not correcting and we’ve not been let back in,” Mr. Gartman said.

Mr. Gartman sold much of his position in gold last month, with the intention of buying back some of it when gold prices corrected. He forecast that gold would retreat to US$1,475 an ounce — however, the precious metal is now in its strongest rally in 10 weeks, closing at US$1,620 an ounce Thursday.

“We sold gold rather properly several weeks ago; we failed miserably, however, to buy it back for although our intent was clear late last week as we said it was our intention soon to re-buy that which we had sold, we’ve failed to do so,” Mr. Gartman said.

The new bullish outlook for gold follows a month where Mr. Gartman was the subject of some high-profile name calling from fellow investment letter writer, Peter Grandich.

Mr. Grandich called Mr. Gartman “one of the Three Stooges” of gold forecasting after the latter declared gold was in a bear market (the other two accused of being in that trio are Jeff Christian of CPM Group and Jon Nadler of Kitco).

“The bear run that began in August has now officially ended, for the string of lower lows and lower highs is over,” Mr. Gartman said. “This does not help us in hoping for/expecting/indeed demanding some weakness into which to buy, but it does give us ‘permission’ to become officially bullish once again.”