Breathtaking. If nothing else, play it in the background while you look at your charts.
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Breathtaking. If nothing else, play it in the background while you look at your charts.
I am shorting anything to do with gold. I've even got my one-kilo bar of gold on my desk, ready to sell back (at a nice profit) to the dealer from whom I purchased it. One look at the gold futures, the $XAU, or any other important precious metals chart indicates to me this quick run-up is done-up.
I mentioned last week that I thought OIH would fight its way back to about $78. Well, it has. I consider this a very safe level to short, and I am doing so in a big way. I am not getting fancy with any DUG or whatever; just straight-up shorting OIH with a stop at $79.
Watch that ~842 level. It's important.