4/20/2006

If you want to see a market topping just check June Gold HERE. The rise changed from 45 degrees to about 85%, a rate of advance that cannot be sustained. Gold could easily hit $540. If you're in it, get out. If you are out, stay out. Many of you will say that gold will "fill the gap." It will fill it alright, all the way down to $540 area. BTW, if you check the weekly chart you will see that this is a "blow off top," complete with a gap opening today. OUT.

Late add: the active contract is now JUNE, be careful. April represents people in cash positions trying to cash in so there will be a distortion if shorts bail.

1 comment:

Anonymous said...

Yeah, I've noticed that the "Buy Gold Now!" ads are back on talk radio.

No surer warning sign to get out of the market ;-)