posted on
Feb 28, 2008 05:03AM
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Message: gold
Richard Russell, the 80(plus)-year-old dean of the financial newsletter industry, has been bullish on gold for a long time, too.
"Below I show a monthly chart of gold which takes the metal back to 1998. It's truly amazing, but people tend to see what they want to see. Here on this chart we study the early part of what could be one of the greatest bull markets in history, and all we hear about is 'gold was up two dollars today,' or 'gold was hit by a big five dollar drop in late trading.' Somehow, under a blanket of orchestrated denials and ignorant comments, the great bull market in gold has placed blinders over the public's eyes. Show this chart to anyone, but leave off the identifying heading, and ask them what the chart might represent. They'll come up with all variety of answers. But see if anyone comes up with gold as an answer. 'What's that? You say it's gold? I can't believe it. Nobody told me that gold was rising like that – and blah, blah, blah.' The higher gold rises without attracting mass attention,! the greater the potential for the gold bull market. After all, gold has risen this far literally without public participation. What happens when the public finally becomes interested?"
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