Reply #81: Soros Gold Sale Leading Indicator For Market Top

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http://blogs.forbes.com/robertlenzner/2011/05/12/soros-gold-sale-leading-indicator-for-market-top/

George Soros may have picked the top. His liquidation of gold below $1600 an ounce has been followed by a whole series of volatile actions in commodity markets that look to be massive trouble for the real asset players, who may be pulling their bets.

Soros seems to have correctly figured inflation risk greater than deflation; higher interest rates coming, and he got out before speculators put to rout by the regulators installing higher margin requirements. Take that Warren Buffett, John Paulson and all you gold fanatics. Not to speak of the silver freaks.

Yesterday’s harsh selloff in commodity stocks like the provervial flavor of the resource play– Freeport McMoran, and global suppliers like Vale and giant integrated oils warrant sweaty anxious scrutiny. FCX broke $50 on the downside and closed ast $48.27, down almost 6%.