TGR says we are in a bear market. People use this term quite loosely and without taking responsibility for what it really means. When one uses the term bear or bull market they usually don't consider a time frame but just use it because it feels good. Personally, when I use the term it represents the primary trend. Now, how is the primary trend defined for those who wish to use the words bear or bull market correctly?

You plug in a 5000 day moving average line on a very long term chart. If the last sale on the chart is above the line we are in a bull market. On the contrary side, if the last sale is below then we are in a bear market. Gold entered a bull market in 2004 or abouts and continues to be in a bull market. I'm down in the Baja and don't have access to my records as they are in storage but I would approximate that the 5000 day average is closely under 1,000 somewhere. Maybe someone with the software could tell me where it is as of Friday's close, would appreciate it.

Unfortunately when the media uses the bull/bear market words incorrectly, it is their readership that loses.