Bob Moriarty is amongst the best anywhere at understanding markets. Maybe you've never heard of him, but when gold charged up to all time highs almost 2 years ago he warned everyone that it was too much, too fast (even though he is a believer in gold).
He has a level headed, common sense understanding of markets. Which means he often goes against popular sentiment.
And time after time after time, he's right.
Here's a quick commentary from Bob today:
Jan 25, 2013
Investing successfully is not rocket science; it’s understanding the psychology of other investors. When everyone is negative, you want to be positive. When everyone is positive, you want to be negative.
We had a major bottom in May. We had a retest shortly thereafter later, that’s pretty typical. We had a secondary bottom back in November.
We are going through the retest now. In the next short while things will turn. The DOW and S&P are going to tumble; gold shares are going to rocket. Everyone loves the DOW, loves the S&P and hates gold.
That’s really good (for gold).
It’s not rocket science.