Say... what do you think is going to happen when the world jumps aboard the euro trade, the dollar corrects and some modicum of hope/greed/stupidity returns? The SPX will be lucky to get back to the resistance level noted around 1155, while gold will probably pop to blue sky (while under performing the 'hope' trade in the very short term).This will come as the bi-polar herd asks itself "what, I am supposed to be bullish the euro now?!" amid another ratcheting down of confidence in the global currency shell game.
There is a reason gold is the only asset in blue sky. It's funny, but I am usually hesitant to sound like a gold bug when I feel the relic is over frothy and sponsored by too many unhealthy holders. I don't however, have that feeling at the moment. I know CoT is generally bearish and I know Karl Denninger and the D-Boyz are nay sayers. So what? We are witnessing the slo-mo unwinding of a confidence scheme and the risk is in not having exposure to eternal monetary value.
Thus concludes another gold bug moment brought to you by your friends at Biiwii.com
