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1/25/10

Something about a recent gold call that I'd like to get off my chest

if you look closely you might be able to spot a trend here

As part of an article by Reuters out today entitled "Gold rises on renewed buying but investors wary", the reporter decides to get Robert Prechter's view on what is to come.

What Reuters writes is:

Robert Prechter, president of Elliott Wave International, said that gold has hit a top and could fall 40 percent from its peak in a deflationary environment.

Gold "is over-owned and overvalued and is about to resume a bear market, if hasn't already," said Prechter, the technical analyst known for predicting the 1987 stock market crash.


What Reuters doesn't write is:

Robert Prechter, president of Elliott Wave International, said that gold has hit a top and could fall 40 percent from its peak in a deflationary environment.

Gold "is over-owned and overvalued and is about to resume a bear market, if hasn't already," said Prechter, the technical analyst known for predicting the 1987 stock market crash and also known for being a permabear who has been utterly wrong about the market for the last freakin' decade except for a couple of months in mid-2008 and then resumed his bad calls in 2009 with the normal misleading bullshit based on squiggly lines

THAT!

DO!

NOT!

WORK!

and only benefit his own back pocket via wildly overinflated subscription fees paid to him by the most ignorant sheep investors out there.

I just wanted to get that off my chest. Thank you for your patience. Crazy pills served. The end.