Gold Shares Responding (Finally)?
Source: MarketWatch, Peter Brimelow (8/11/11)
"Gold makes new highs, but will gold stocks follow?"
Last Friday morning, The Gartman Letter halved its gold position, arguing that the previous day's gold trading constituted a "reversal to the downside." This contrasted sharply with the Aden Forecast, which the previous day had told its readers to sell everythingexcept precious metal exposure.
Gartman's move was greeted with catcalls of derision from the hard-core gold bugs, many of whom claim that proprietor Dennis Gartman is best seen as a contrary indicator in gold. And indeed, on Wednesday afternoon, December gold settled at $1,784.30, up $142.20 or 8.7% above last Thursday's level. . .View full article