QE3 Paving Way for 2014 Bear Market: O’Rourke

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Dec. 9 (Bloomberg) -- Michael O’Rourke, chief market strategist at Jonestrading, explains why he sees a bear market ahead in 2014 on Bloomberg Television’s “In The Loop.”

Fund managers.

We had this inflation trade going on, so gold is going up on inflation trades.

Weathers unemployment, whether it is gdp, a lot of these numbers are picking up in the second half.

It is like he said, the past three months averaging 900 thousand will be cannot have an average there.

Unemployment rate, if you project it out as a decrease in 2000 12 to june of next year, we will be at the same place we are today.

Nothing is really generating -- accelerating.

The better economic data we have seen is a case to be bearish on gold.

The idea that gold is a store of value is a threat based on its blended dollars this year.

Goal is headed for its first annual drop in 13 years, that has made it less attractive.

Also reducing demand for a hedge against crisis.

China still hungry for goal, but not enough to offset etf investor sales, and the lack of indian imports.

What is the case for goldman?

-- gold then?

It has become a very speculative venture right now.

That hedge fund trade of a few years ago is gone.

I watched the commitment to trading report, and it has gone down a lot by the same way as it was in june.

I think gold will start trading on its own merits, and this has had an incredible run for the past five years.

This text has been automatically generated. It may not be 100% accurate.

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