May 11, 2011, 12:01 a.m. EDT
Gold timers finally throw in the towel
Mark Hulbert
LAS VEGAS, N.V. (MarketWatch) -- They are in denial no longer.
The “they” are the gold timers I monitor. The last time I wrote about them, just one week ago, I wrote that they were in denial, having for the most part stubbornly held on to their bullishness despite a breathtaking drop that caused an ounce of bullion to lose nearly one hundred dollars.
That they have finally rushed for the exits increases the likelihood that some sort of trading bottom has been formed in the gold market.
How enduring that bottom turns out to be, however, is still in doubt, since it will be determined in no small measure by how those erstwhile bulls react in coming days.
The full article: http://www.marketwatch.com/story/gold-timers-finally-throw-in-the-towel-2011-05-11?link=MW_story_popular
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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