Alex Trias

Gold Breaks Downtrend and Dollar Breaks Down

Looking at a three year chart of GLD, I see a double top formation, marked by two failed attempts to break $100. If GLD can break above that level, I might get more comfortable with it's technical posture. Until then, I'm unconvinced and nervous about making any investment into that commodity.

The S&P 500's Weight in Gold

Compelling charts. The main fly I see in the ointment is the fact that I now see infomercials on investing in gold, and adds on the side of busses driving around Washington, D.C., where I live and work, for gold-buying or gold-selling businesses. Saw an add for a tupper-wear kind of party for housewives, except people bring their gold estate jewelry in to have it appraised. In this heady environment where everyone and his brother is 100% convinced about the price of gold soaring upward, my inner contrarian is at war with my inner technical analyst/ macro investor.