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<p>[QUOTE=&quot;Ginger1, post: 1993187, member: 72388&quot;]Most financial markets are either greed markets or fear markets. The precious metals markets are interesting because when they really start to go, they are what is referred to as &quot;echo markets&quot;. In an echo market, the market might be kicked off by fear selling like we&#039;re seeing in gold now, and the momentum established by the fear sellers attracts the greed sellers. The momentum associated with the greed sellers sparks more fear selling and backwards and forwards. Those of you who were in the gold market in the 1977 to 1981 period understand the hyperbolic moves associated with echo markets. I don&#039;t think we&#039;re in an echo market yet; I think we are in a purely fear-motivated market, with the sole exception of some of our own clients who have proven themselves to be amazingly greedy, but that doesn&#039;t appear to the broad sector at large[/QUOTE]</p><p><br /></p>

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