Sunday, December 7, 2014

Jojo in the Gold Report

Haven't heard from Jojo in a while.

The Gold Report - Jordan Roy-Byrne thinks the bottom is near. The relevant quote:
Over the last 18 months or so, I have been fooled several times in believing that gold stocks had been so oversold they couldn't go any lower. While they rebounded strongly for several months, they ultimately went lower.
Yup. Then again, just 25 months ago he was calling for $2350 gold in the subsequent 6 months, and I don't recall that ever happening. And it seems that the United States has done a good job "rolling over a few trillion in existing debt over the next 3 years", despite what he thought was going to happen.

So... well, at least he has some nice charts with squiggly lines.

I'd be happy to see gold go back to $2000, but I'm not holding my breath and I'm not going to base my investment decisions on nice words.

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