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, [...]
Posted in Commodities, Gold, Weekly Comment on Nov 25th, 2009
The gold market has been making a powerful move to the upside lately. In fact over the last three weeks it has been up almost every day, with prices now turning nearly vertical with many gaps on the daily and weekly charts. Is this move sustainable? Are the fundamentals or the perception of future fundamentals [...]
Posted in Daily Comment, Gold on Nov 12th, 2009
This week gold surpassed $1100 an ounce in the futures market. This is certainly good news for gold bulls, and it’s difficult to argue with this powerful trend. However, there are some things that bother me about the latest impulse move up. Maybe it’s just my contrary nature. Before I get a bunch of angry [...]