pitaking

Charts of the Day: Gold, and Baltic Dry Index

I've never understood gold bugs and I never will, it is clearly going lower despite the thousands of posts claiming the surge is at hand. If it can't go higher in this environment than it's not going higher going forward. It was 1050ish around bear sterns, meaning it should have been 1300-1500 during this crash, but it's done nothing but drop. My DZZ was a great trade this week and I remain a gold short until the 700 level.