Yellow Peril

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Today absolutely stunk for me. (Although by day’s end, it was less stinky, but it stunk nonetheless). On one hand, a lot of my shorts took extreme amounts of heat. On the other hand, my one cherished long – – gold – – got smacked across the face with a crowbar.

Regarding the chart above, I would like to point out one thing I noticed: during the general uptrend over the past couple of years, gold goes this little schtick in which it consolidates for a while, threatens to break (note four circles in red) and then does an about-face.

I have not stumbled across any guarantee in the federal law that this will happen again, but I at least wanted to take note of this curious behavior (with the fervent hope that it persists!)

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