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Dave Skarica On Gold Bottom - Mike Swanson (12/13/09)

Submitted by Mike Swanson on Sun, 2009-12-13 08:08.

This weekend I had an emergency conversation with Dave Skarica of Addictedtoprofits.net about gold. A lot of people have been getting scared, because of the recent drop in gold and others are getting extremely bearish. Both of us received an email referencing an article using "wave counts" to predict a gold collapse to under $650 an ounce yesterday.

Both of us though think that we are either at or close to a bottom in gold. In fact I even increased my overall gold stock position last week.

We also think the broad market is likely to go higher. In fact I think we could very well see the breakout above 1110 on the S&P 500 occur this week. This is why I'm calling this an "emergency talk." - most people are afraid to buy gold or asleep when it comes to the potential rally in the broad market so I thought it important to reach you this weekend to wake you up!

I'm going to talk about two sectors that I think are poised to break out of stage one bases and lead the market over the next four weeks tomorrow in a WSW Power Investor premium members article.

But I wanted to share this phone conversation I taped for you today before the market opens again on Monday.

You can also download the mp3 file directly on to your computer by clicking here.

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Hello. My name is Mike Swanson. I’m the best-selling author of the book Strategic Stock Trading. In a former life I used to run a hedge fund from 2003 to 2006 that generated a return of over 78% during that time frame. In fact it was ranked in the top 35 out of 5,000 hedge funds in 2005.

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