Posted in Daily Comment, Gold on Sep 1st, 2010
Not much has changed since my last post. The gold market is still over-extended in my opinion, although there are fundamentals that will probably support this market for a very long time. The stock market is still swinging wildly from day to day based on whatever traders think the news is meaning at the moment. [...]
Posted in Daily Comment, Gold, SPY, Stock Market on May 20th, 2010
Above is a continuation of the S&P 500 etf daily chart that appeared on my last blog post, updated with the prices as of today. I discussed the possibility of a move back up to the moving averages after the big break. I didn’t expect the snap back rally would stop almost to the tick [...]
Posted in Daily Comment, Gold, SPY, Stock Market on Dec 23rd, 2009
I write this on the eve of Christmas eve, and also the eve of the historic and disastrous bought off senate vote on obamacare. The public does not what this awful bill to pass. Many of the democrats don’t even want it. But comrade Harry Reid is intent on getting something through the senate. On [...]
Posted in Daily Comment, Gold on Dec 9th, 2009
This blog has been warning for some time of a meaningful pullback in the gold market. I’m not claiming to have called a top, or that a top has even been made. My worry was that this last impulse would turn into a vertical parabolic ascent that would be a final blow-offto this multi-year bull trend [...]
Posted in Gold, Option Spreads on Nov 28th, 2009
The gold market has been getting much attention lately as it is pushing almost daily to new all-time highs, at least in relation to the collapsing US Dollar. There are few voices that suggest this powerful trend could end anytime soon. However, when a trade gets as one sided as is the gold market presently, [...]