I said after the Nasdaq/Tech crash in 2000 that, ultimately, the Bear market this country is heading into will not be over and a true bottom established until the Dow was somewhere between 2000 and 3000 and CNBC was off the air. I don't know about the ultimate fulfillment level of my Dow target, but it looks like CNBC is rapidly losing viewership:
http://www.businessinsider.com/cnbcs-ratings-fall-off-a-cliff-2009-8
Assuming the Dow/gold relationship reverts to its occassional and gold bull market ending ratio of 1, gold is headed to at least $2000-3000/oz. before the gold bull ends...
Friday, August 7, 2009
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