drbubb Posted January 14, 2008 Report Share Posted January 14, 2008 =========== TOO BULLISH? Are we moving into the second half of January with too much Bullsishness? The usual pattern is: once that nearly everyone who is going to buy has already bought, there is only one way the market can go... and that is now. Look at these indications: 1/ From the "what will happen in 2008" podcast on CW Radio: + There seems to be plenty of agreement that Gold is about to experience a big surge up. Only Faber is in dollars, and then only for "a month or so". (Do we have too much concensus?) + Several of us are bearish on Sterling from $2.00-type levels. Falling North Sea oil production was mentioned by Rogers, Faber, and Zapata George. Sterling will be hurt by its emerging Property slide. The BofE may have to drop rates to help banks and housing. When they do, Sterling may slide, even against a weak dollar. + Food and agricultural commodities are likely to be helped by all the CB pumping + High inflation (or hyperinflation) is not likely until after a US recession hits. And only then, if the conditions become bad enough, that it is seen as a lesser evil than economic stagnation. 2/ Just saw a poll on Bloomberg: Out of almost 30 opinions, only 1 was bearish- as Gold hits $900 (Feb'08 contract) Link to comment Share on other sites More sharing options...
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