Does the gold bug still have you? It’s down about $400 dollars since it’s high earlier this year. Hindsight is always clear but if you look at the gold index you can see there were topping signals very similar to those in stocks (Review the chart). Currently gold looks to be broken but it has found mixed support at it’s 50 day moving average. If you are still believe in gold watch to see if it makes another significant drop, if so it could be looking for it’s 200 day moving average around $1200. If it continues to drops take your profits and look for a new base of consolidation to go long again.
Eric Hazen
IT Professional
