Sector Expert: Toby Connor
Toby Connor writes Gold Scents, a popular financial blog focused on the analysis of the stock market and the secular gold bull market.
Legendary Dow Theory Letters Writer Richard Russell issued a big bear warning May 27. In a special early alert for his subscribers, he announced that his analysis of the April to May activity on the Dow Jones Industrials showed the continuation of a primary bear market that started on October 9, 2007. "We are now dealing with the latter part of the primary bear market. . .subscribers should now follow a course of utmost caution," he said. "As for gold, I think it will be under pressure for a while, but before this bear market is over, gold will embark on a major bull move. The current correction in gold will test every goldbug's nerves," he added.
The Gold Report asked other market watchers for their interpretations of the numbers and the impact these trends could have on the price of gold and gold equities. Their responses reflected their unique perspectives.