Had the gold price advance terminated around 1500, it would have completed a "garden variety"
bubble, but the bugz have their hearts set on pushing this baby ever higher. So, we now have an
eye popping overbought, with gold at a nearly 27% premium to its 200 day m/a and sporting an
MACD of +63 compared to recent peaks in the +25 - 35 range. It is like a stein of beer with way
too large a head. $GOLD chart
For the hell of it, I have been having some good and profitable fun shorting this esteemed religious
relic since last autumn. Now's a good time for me to be alert, because the bugz are throwing any
vestiges of caution to the wind as they target $2000 oz. I short only the downturn, like when
the 5day m/a starts to roll over and when the ADX +DI reverses. $Gold -- shorter term
Caution: Trades of this sort are for only the few with plenty of experience, ice water in the veins
and who can reside in front of the terminal for extended periods.
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