Here is the article.

First, I'd like the many market professionals who read me frequently, and who know my work, submit a comment to this particle blog item as to your impression and interpretation of that May 17 article.

Everyone who reads me knows that a week earlier I had called a long-cycle Bull top, and everyone has to say that in this May 17 blog, I was saying that the gold market had topped and would fall. I said Mr. Hennecke was stirring emotions of the gamblers, which I said I didn't like and that I hoped those traders would leave the market and return to the casino.

The prior Friday, gold bullion had hit the cycle high well over $700. I was concerned that students of the market would be caught up in the hype. Then on the Monday and Tuesday, the gold market had sold off marginally, but overnight there appeared to be a rally underway, which I did not want to see on the basis of hype.

So I concluded my article that day with the following words and chart that illustrated by concerns that gold was being hyped again:

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"I hope for my sake that today's U.S. inflation data (CPI) is extremely high and that the Fed has to move in to stabilize markets by lifting the bond market and causing a sell-off in gold.

Why would I say that when I believe that market events are unfolding precisely in the manner Martin Hennecke opines, and that gold is headed to $1,000 or more? It's because I would like to see gamblers leave the market and go to a real casino. I'd like to see the art of speculation, which is not based on emotion, become grounded. I'd like to see traders use all the analysis needed to become successful over 10, 20 and 40 years, and that includes understanding fundamentals, quantitative, technical, macro-economic drivers.

Yes, the overnight market has pushed gold back almost to its price level of last Friday. But let's see where it is 24 hours from now. We've seen the market play on the emotions of those who are leaning toward the inflation-gold argument, and now I feel we are going to see the market play on the emotions of those who believe most strongly in financial assets.

As you can tell I don't like it when the market (in this case Hennecke) says that "the only certainty is crisis". And that's because, as a teacher, I lose the attention and focus of my class.

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Now here, as I like to say, is the Proof of Concept. It shows that gold had already topped as I feared. It shows that I was right about Mr. Hennecke.

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Now to the reason I am writing this blog.

I received a legal letter this morning from:

Tom Sinchak
Director, Legal
Bridgewater Associates, Inc.
(203) 226-3030

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Anyone can see that I took care in that article to show (i) my respect for Bridgewater and (ii) my concern that Hennecke was playing on the Bridgewater objectivity and goodwill to further hype the market. In a word, I was surprised.

Now the truth comes out that Hennecke is not employed by Bridgewater Associates, Inc (Westport CT).

I am not one to misread a screen caption, but this is possible. If so, I owe Bridgewater Associates an apology. If not, that apology will come from CNBC. I'll let you know.

In any event, I did write positively about Bridgewater Associates as everyone can see. I also will now correct the May 17 blog article.

As you know, I'm not ever trying to mislead people. In fact, quite the opposite.