Gold Commentary

Well, a nice little run down, the short position protected my physical ever so nicely. I'm not look for great profits here just security and that's what I got, I was stopped out when the gold jumped back up to 1416.

Currently my long term charts are showing negative (more negative than my last post). But for now, I've faced the dragon, here is on top of a mountain of gold:

See how far we are off the huge (and only showing the intermediate) uptrend. Those bubbles would worry me on a stock chart, but I see them all the time on gold. I think they're the shorts being beaten up by the market. The signs are negative for the very short term, positive in the long term.

Maybe we'll see a war zone around 1405. Will be interesting if any more positive US$ news (ahem!) can push through that level. It will be a fight.