OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

From Seeking Alpha–this guy is not a gold bug or perma bull-“this article is being written by one of the very few who came into 2014 exceptionally bearish on the precious metals.”

Posted by Richard640 @ 6:51 on November 16, 2014  

http://seekingalpha.com/article/2685885-are-you-preparing-for-10000-gold?uprof=45

Are You Preparing For $10,000 Gold?

Nov. 16, 2014 5:57 AM ET | About: SPDR Gold Trust ETF (GLD), Includes: AGOL, IAU, OUNZ, SGOL
Disclosure: The author is long SLV. (More…)
Summary

• Should we begin to look to the long side of the market?
• What are the long term implications?
• Upcoming week’s expectations.
If someone told you back in the year 2001, when gold was below $300, that within 10 years it would approach $2000, would you have thought them to be crazy?

What if someone now tells you that gold can go from the $1000 region to $10,000 within the next 10-15 years? Sounds just as crazy, right? Well, since many of you already think I am crazy, then I guess this will just be par for the course.

Yes, this article is being written by one of the very few who came into 2014 exceptionally bearish on the precious metals. Remember my line that “2014 will be the year of the whipsaw and the year the bulls die?” Again, the market has followed through very nicely on both. But, not all the bulls have been vanquished just yet, and it should only be a matter of time until they are.

However, I will likely be going into 2015 very bullish. You can consider it my alternative take on “2014 comes in like a lion . . . or . . . bear, and out like a lamb . . . or . . . bull.” But, this is simply how contrarians invest. When a market becomes exceptionally bullish, as the metals market was when I called the top in 2011, it is time to look in the other direction. And, now that the market is turning exceptionally bearish, well, it is time to begin looking the other way too .

We learned this lesson from Baron Rothschild, an 18th century British nobleman. After the panic that followed the Battle of Waterloo against Napoleon, he was credited as saying “Buy when there’s blood in the streets, even if the blood is your own.” But, amazingly, I still don’t think blood is running in the streets walked by precious metals investors just yet. I think pain is being felt, but I don’t think blood is running. Sadly, I think we may see a number of miners go out of business to signal that there is blood in the streets. I am also going to want to see more formerly bullish analysts declaring the end to the bull market.

Avi Gilburt, ElliottWaveTrader.net (2,014 clicks)
Newsletter provider, Elliott Wave, gold & precious metals, Emini S&P 500
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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.