With the retirement of David Letterman from "The Late Show", and with the bear market in gold (NYSEARCA:GLD) continuing on, I thought it would be fashionable to create a "Top 10" list of what to look for, which will eventually indicate that the bottom in gold has been struck.....This is supposed to be fun, so enjoy.
*Full disclosure, I believe in higher gold prices in the future.
10. John Williams at Shadow-Stats calls for "Hyper-Deflation."
With all due respect, the man is wildly more intelligent than I am, but how long can you continue to call for Hyper-Inflation, and be wrong.
9. GATA: "There is no manipulation in the Gold Market."
Maybe this isn't so much a bottom in gold, but more like when hell freezes over.
8. Robert Kiyosaki apologizes to Daniella Cambone from Kitco.
I'm not sure if it was the side of the bed he woke up on or what, but Rich Dad, Poor Dad, made Daniela Cambone from Kitco completely uncomfortable in a brief interview a few months ago, while at the same time taking-up most of the interview to plug his new book.
7. Gerald Celente does a happy interview.
As they say, "nough said".
6. Eric Sprott, "Maybe Ebola wasn't going to make gold skyrocket higher?"
This one was difficult to write. Full disclosure, I really really like Sprott, and think he's a great guy. However, when he started touting about how Ebola might be a catalyst to make gold go higher, I realized we were far from a bottom.
5. James Turk, "Gold is not in backwardation."
He's probably right, it's probably been in backwardation for the last gazillion years.
4. Egon von Greyerz, "Gold is going to $800 next year."
3. Zerohedge has something positive to say about the US Economy.
I like Zerohedge, but after a while, it can't all be terrible.
2. Peter Schiff creates a youtube clip called, "Schiff was Wrong."
It was difficult not putting this as my #1 slot.
And, for the #1 Indication that a bottom has been struck in the gold market.......
1. King World News says, "All is well with the world. It's time to buy the dollar."
The doomsayer among doomsayers. I actually used to like listening to some of his past interviews, but over the last 3-4 years, it's be a rotation of 4-5 guys, saying the same thing.
In the same way the gold bug community asks that the MSM (Main Stream Media) be held accountable for what they say, don't say, &/or don't ask, they also need to keep their own in check. This has been sorely lacking. If they aren't held accountable, they're pumping the same slime, just in a different form, as the MSM. I hope you enjoyed this, and found it entertaining.
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.