From my fave market 'advisor', Stewart Thomson, this morning:
Now, before some top caller makes you sell all your gold and silver because their 12,26,9 MACD series might show a sell crossover signal at the 3 level on the chart, note that my statements of 2010 that Bin Laden was not dead, but alive and waiting, and maybe a pawn in a twisted and larger bankster warmongering game, suddenly is on the geopolitical stage, NOW.
13. A week ago, some media was abuzz with rumours that Bin Laden was near capture/death. Yesterday, it appears he was finally killed by US/Pakistani forces. "The Americans will find him, and kill him" -st, speaking to a pro-Bin Laden student, 2004. The rage in that student's eyes as I spoke then, is the rage in millions of pro-Bin Laden people...TODAY.
14. What does the possible death of Bin Laden mean for gold? Well, as the media rumours grew that US/Pakistani forces were about to take him out, some Al Queda terrorists began making statements that if he was taken out, they had a nuclear bomb in Europe that would be detonated, and perhaps various other "mass murder goodies".
15. Who knows whether they have any such goodies or can execute on their murderous ideas, but there is no question that if Al Queda even THINKS Bin Laden is dead, they would love to engage in some sort of mass-murder retaliation. If you look at the recent events in the Mid-East, all of what is going on seems highly "coincidental". First, there is a mass "we want Western democracy now!" series of mini revolutions. Next, Bin Laden is suddenly found and killed. He certainly was hiding in a place that made it easy to finish him off at any chosen point in time. Another coincidence?
16. Now, Saudi Arabia could easily go out of control. What would THAT mean for the oil price, and hence the gold price? Nobody really knows who "team democracy" really is. Are they students hungry for freedom, or terrorists hungry for war? Perhaps the truth is in the middle, as it usually is.
17. Then the gold/silver mkt just happens to get a big sell-off. Maybe that is technical selling, maybe it is "sell the Bin Laden news, after buying the rumour" action. All I know is that a lot of weak hands are hitting the road. That's an extreme positive for the market.
18. My suggestion: The risk of reprisal from Al Queda is REAL, whether Bin Laden was killed a long time ago, killed yesterday, or is still alive. The fact is that the story of his death yesterday is now "in play". IF there is a major terror attack, gold could go totally BALLISTIC. Could there be a rush into dollars, and a general mkt panic if there is a major terror attack? Yes, and that is why you own substantial amts of cash as well as gold. In a market whose hallmark is volatility, you need high levels of declining-value cash, ironically, just to manage yourself emotionally. Remember: Gold can rise in value much more than your cash can fall.
19. Just a day before the apparent death of Bin Laden, a smart bomb took out the son of the leader of Libya, and killed 3 children in the house.
20. ANYTHING is possible here, and the geo-political situation is turning RED HOT. Only a MORON sells all their GOLD and buys marked to model toilet paper with the proceeds, in this situation.
Welcome to the future.
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