The $GOLD is riding the 14EMA and is above the 20 DMA and the RSI is above 50. These are fences that hold the trend up; then violated we will have some basis for doubt. But Not Yet.
In the twenty-five years I have been trading the metals (and done well) I feel we have no basis as yet for calling the bull dead or even injured; we had a few hedges get nervous over the BStearns "near miss" (we have yet to see the parties move their heads) and the hedges went to cash to stay solvent.
These some folks will be back to avoid the Congressional bailouts. I recommend keeping a position in the metals, it easier to get back in. I think we are just about 50% through the markup. Best, Islander.
QUOTE (Islander @ Mar 25 2008, 01:55 PM) 
The $GOLD is riding the 14EMA and is above the 20 DMA and the RSI is above 50. These are fences that hold the trend up; then violated we will have some basis for doubt. But Not Yet.
In the twenty-five years I have been trading the metals (and done well) I feel we have no basis as yet for calling the bull dead or even injured; we had a few hedges get nervous over the BStearns "near miss" (we have yet to see the parties move their heads) and the hedges went to cash to stay solvent.
These some folks will be back to avoid the Congressional bailouts. I recommend keeping a position in the metals, it easier to get back in. I think we are just about 50% through the markup. Best, Islander.
In the twenty-five years I have been trading the metals (and done well) I feel we have no basis as yet for calling the bull dead or even injured; we had a few hedges get nervous over the BStearns "near miss" (we have yet to see the parties move their heads) and the hedges went to cash to stay solvent.
These some folks will be back to avoid the Congressional bailouts. I recommend keeping a position in the metals, it easier to get back in. I think we are just about 50% through the markup. Best, Islander.
Lots of bulls will be disappointed with "only" 1700. Better hope the shares start to outperfrom or a position in Google would have been the better choice huh?
If you mean you got to make your choices, I agree. But gold still has role in any strategy.