Gold Targets
GOLD TARGETS FROM MICHEL DE CHABERT-OSTLAND
Before I mention my gold targets, I want to suggest that you immediately read Barron’s interview of Stephanie Pomboy in this week’s issue ( P.43 ). I have followed her macro analysis for a very long time and I can tell you that this is one sharp lady who has a very wide following with some very important investment types. SHE RECOMMENDS OWNING GOLD ON THREE SEPARATE OCCASIONS !! This is a huge endorsement since she is so highly regarded and you might note that her reasoning for owning gold is flawless.
I had promised, in my posting of 12/10, that I would give you some targets for gold, this weekend. These are mathematically calculated targets for the intermediate term, i.e. up to nine months, on the 85% probability assumption that the correction low is in from the all time high of $1033.
$1212 to 1220
$1460 to 1470
I believe each targeted range has the same probability. Will advise as the market unfolds.
I wish Bill Murphy all the best on his forthcoming trip to Washington. I only have one suggestion: have a different presentation for the congressional reps than for Commissioner Chilton. The most thorough for Chilton but something that would fit a three page, single space, presentation for the reps. You can always build on it afterwards if they catch on to what you are getting to.
Wishing you successful investing/trading.
Michel de Chabert-Ostland, CEO