http://www.gold-eagle.com/editorials...

I know most you probably read gold eagle but I tend to like the commentators that take a longer term perspective and accept pull backs as part of the game

GOLD

What's with all the bitching and complaining? Since 2001, I have been calling for a 16 to 20 year BULL MARKET for Gold. Did you think that this Bull Market would be different from all others and would not have even one pull-back in 16 years? So far Gold, except for the manipulated Treasury Bond Market, is the only Bull Market still standing. Thus far, the Gold Market has pulled-back a maximum 32% over 8 months. A normal Elliott Wave minimum correction is 38%, lasting an absolute minimum 9 months, but a more normal bull-back time wise would be 1.5 years. As I have pointed out to you time and time again, the maximum expected pull-back, especially if the 4th wave of one lesser degree is a diagonal triangle, would be back to the apex of that triangle which stands at $600 to $650. What we are witnessing is a less than normal correction thus far. If we were to have a parabolic up move, it would be fast and furious but it would not last any longer than did $147 oil. We may have hit $1200 or $1500 and then crashed just like Oil and the rest of the commodities have - I don't know about you, but I'm looking for $6,250 over the next 8 to 12 years. I have been warning you all along NOT TO BE A TRADER. Sell options against some of your positions if you must, but continue to accumulate on weakness. Unless you are experienced and successful traders Just hang on to that GOLDEN BULL the ride will be bumpy but well worth it and extremely satisfying once the ride is over. I for one will last longer than the 2.7 seconds on the Bull named Fu Man Chu..

Unless you are experienced, knowledgeable investors: Stick to GLD and GDX. Use DGP or margin if you want more leverage. If you still want more action, buy options. If GDX is not exciting enough and you want Juniors, there are a few excellent services out there that you can subscribe to. I am no longer able to do proprietary research on individual companies and I do not comment on other commentators that I do not know personally.

Just like during the heyday of the commodity bubble, I cautioned all investors that there would be a major supply response to continued high prices. The Laws of Supply and Demand may be asleep for awhile, but they are not Dead. The Demand side of the LAW is about to kick in for Gold and Silver! THERE IS A SUPPLY DEMAND PRICE EXPLOSION BAKED INTO THE SYSTEM JUST WAITING TO BE RELEASED.

SO KEEP THE FAITH AND ENJOY THE RIDE: YOU WILL NOT HAVE TOO MUCH LONGER TO WAIT.