Here (August 28th, 2009)
http://s3.amazonaws.com/armstrongeconomics-wp/2012/03/will-gold-reach-5000-809.pdf MA says It is coming into its own and is still poised to rally to at least test the $3,000 level if not much higher. And Government has promised the moon, and can no more keep their promise that Santa really eats the cookies. When there is no one who buys the US debt, that is when the ceiling will fall. We will see this most likely after 2010 and it appears the end may be 2015-2016. A 21 year bull market in stocks points to 2015 and a 17.2 year high in gold points to 2016. This does not negate the decline after Labor Day back into 2010 that seems to be shaping up.
Why am I the only one capable of reading the sources sloanf cites and pointing out that he is lying and cherry-picking quotes out-of-context every damn time!
Here one last time and I better never ever read anyone agreeing with sloanf unless they've carefully analyzed the cited MA document.
I have provided the technical analysis on Gold based on a monthly chart. The first real resistance
is formed by the Primary Channel that shows $1,350 - $1,750 between 2010 and 2012.
Which is exactly what happened, which is exactly what
he reiterated in his March 2011 prediction.
This represents still a plain old normal technical move with nothing that would reflect a
meltdown. It is breaking this overhead resistance where it becomes support that we
enter the "danger zone" of a true meltdown in Public Confidence.
Most of the projected resistance from the major low back in 1999, shows various
targets from $1,700 to $2,750. However, if gold exceeds this level and it too forms
the subsequent support, now we are looking at the
$3,500 to $5,000 target zone.
This is where we see the potential for Gold is a true economic meltdown of
Confidence. In the next leg down into 2011...
Again this is the same unlikely alternative scenario
he discussed in the March 2011 document, which explained less likely.
And again he reiterated the downturn to 2011 for the ECM (i.e. the public economy confidence since we are in the 51.6 year Public wave overall) which means a rising gold (private economy or loss in confidence in public econony) through the turn date shown on the chart (page 17) for the ECM of 2011.45 which is precisely what transpired!
sloanf is digging his own grave with his citations of MA.
And note the 2009 document above was written while MA was in prison and didn't have access to Socrates.