Peter Grandich: “People Threw In The Towel On Mining Shares, and That’s When They Finally Move Higher”

from Tekoa Da Silva’s Bull Market Thinking:

I had the chance once again to speak with Peter Grandich yesterday, publisher of The Grandich Letter, and “Confessions of a Wall Street Whiz Kid.”

It was an exciting interview, as Peter understands the economy, gold, and the junior mining sector in a way that few other commentators do. The items we discussed were the DJIA continuing its move higher, gold breaking out technically, and the junior mining sector as being an incredibly cheap place to invest.

In regards the U.S. stock market, Peter said, “I work under the premise that there is a ‘don’t worry be happy’ crowd on wall street, and that the market is always tilted to the biased long side…the bulk of the financial institutions deal in stocks and bonds, and most times they always have a biased to be long…I like to joke that if you tossed one of them off the empire state building, all the way down they would say the same thing–’so far so good’...Most of the people that work in the financial service industry have a natural tendancy bias to be bullish, or to look at the cup half full rather than half empty.”

Read More (and Listen to the Interview) @ BullMarketThinking.com