And that’s not a permabull’s call either, Gary Tanashian of Biiwii and NFTRH has been calling bear for quite a while but he’s suddenly getting hot and sticky about the sector prospects for the year ahead. Here’s his note today and here’s a chunk to give you interested enough to go over and read it all:
“…in the summer of 2011, it was obvious that the gold sector was not only due for, but in need
of a cleaning. Well folks, that is the good news! We gold bugs have
been deep cleaned, buffed, waxed and are just about ready for prime
time, hopefully much wiser and more humble than before. The bear market
has been a good thing. Period.I could unleash a chart fest showing gold’s long-term support and
downside risk, individual gold stocks that are already in bull markets
and myriad other things, but I want to keep this article compact and on
message. That message is that a huge proportion of the risk (vs. reward)
in gold is now in the rear view mirror with four solid years of bear
market activity. So we will show some strategic monthly charts instead.