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About Me

Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!

Saturday, June 09, 2007

Gold Price -- $650 Oz.

The price of gold has broken down from the powerful
uptrend line underway since mid-2005 on my tattered
semi log chart. This is not necessarily a bearish
development, but it is a "heads up". Sometimes a break
like this is just a fluke in an ongoing trend. Sometimes
such a break is fatal, and, sometimes it is a warning of
a break to come. So, you have to pay attention.

Gold is at short term support at $650 oz and the bugs may
move to bounce it up next week. Even so, a reliable trend
support has been violated and the game may be changing
as a result. Weekly $GOLD chart.

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