Friday, May 22, 2009
Mark Leibovit on BNN - $3,000 target for gold 12 - 18 months!
Mark is considered one of the top traders in the U.S. - just imagine what gold stocks will do if his forecast is correct.
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2 comments:
Mark Leibovit says gold will do well in either a deflationary or inflationary environment. Right.
Then the asset class he is avoiding is equities, its still a bear market EXCEPT he is bullish on the TSX.
Right. If I want to diet and lose weight will Mark Leibovit tell me to drink diet soft drinks and eat ice cream, cake, and candy.
I suppose those sound like contradictions alright; (i.e.: bearish on stocks, yet bullish on TSX.) Then again the TSX is very heavily weighted in gold and oil, and I'd bet he is bearish on the US Dollar for obvious reasons, which is bullish for commodity prices, so since these should do well, the TSX could too, even if many other sector stocks are not.
But I don't need to defend Mr. Leibovit - he's held in pretty high regard as a trader. Time will tell if he is correct....
Thanks for commenting.
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