GDX is clearly overbought... Gold BADLY needs to test its 200 day MA. The best TA person I know thinks markets will continue up for 3 more weeks - but that's it.
I'm bearish short term on almost everythin.
BTW China looks to be VERY close to taking action on its own serious economic problems. I expect it to flip soon from huge net buyer to huge net SELLER of US Treasuries. I trust everyone here understands the disastrous consequences for us WHEN that occurs.
Sorry for any typos. I'm pecking these msgs out on my Blackberry and can't even read the font because it's so small...
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months |