"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, September 11, 2009

Gold

Well, look who just poked his head above 1000 again. Really, the way this metal can move, is it a stretch to think that our target can be attained in the near term? Not the solid and longer term target of 1300 mind you, but the more short term one.

Gold and the stock market are good buddies on this move. Therefore, they will probably be good buddies on the down move as well - until gold shakes out the lousy holders.

How far can we, through bald faced greed and hubris, devalue the dollar? Anyone taking these markets seriously... he shakes his head.