Cesato

Ten Reasons Why Gold Isn't Above $1,000

You well pointed out the extreme diference between speculation and serious predictions, I remember many contributors in this Blog either standing aside or building their short positions in paper Gold 2 months ago (I was one of them, however killed by the strong volatility), still analyst could not be more bullish, meanwhile. You should also note that the main drivers of the financial collapse, which by force would have dragged the Gold market down since the first sign of illness, were apparent a year ago. The stock market interpreted those signs properly back in Aug 2007 and consequently the DJIA topped out in October 2007, yet bogus gurus where still bullish in the DJIA (Does Cramer sound familiar to you?) through the end of 2007 and beyond. Long term investors understood those signs and timely setup exit strategies for 2008 while the currency and commodity markets went for the last run up until March 2008 (a misleading one by the way). Look, since March this collapse was clearly foreseen, there wasn't need to deleverage right away but to place orders and options in anticipation to what happened in August. Bottom line is that people like you and me write about "reasons why it did happen" but professional and educated investors made it happen. "George Constanza" pretty much discovered why investors are succesfull, traders just get by on a daily basis and people like you and me end up reading and writing in these Blogs .