Louis Paquette

Disagreeing with Garty: We Are Long Gold

Gartman publically declated he had shorted at lower prices. My guess is given another $10 higher, that he will cover. Which should drive the price another $10 higher when his massive following cover their short positions. Which will make the chart look beautiful.

Can gold make nominal new highs though during this period of seasonal weakness is a challenge. You hate not to be long though because the US Dollar looks terrible. It just broke a major uptrend and appears to heading south with the budget deficit estimated to come in at $1.8 TRILLION this year.

How High Can Gold Go?

The author made an incredibly accurate call months in advance! He said it should need to come back down to around $730 and that's exactly what it did.

I would like to know what he is saying now...

Sell Gold in May and Go Away?

Try "sell in May and come back by August"

Gold normally rebounds in September when fabrication buyers get active again. Selling in May and going away until October doesn't work. Try the same table above buy buying back in August and you will see the wisdom of the seasonal trade if done correctly.