Gold's Worst Day in 15 Years

by: Eddy Elfenbein

Eddy Elfenbein submits: To quote Bud Fox quoting Sun-tzu:

If your enemy is superior, evade him. If angry, irritate him. If equally matched, fight, and if not split and reevaluate.

This here's the splittin' and now we're reevaluatin' (click to enlarge):

Sorry to run this hideous chart, but it's the best way to show yesterday's breakdown in gold. The metal hasn't dropped like this since the air war began in the First Gulf War. That time, however, the stock market soared. This time, it sank.

Here's a thought: Maybe Sptizer went after the wrong guys. If only he had looked in the commodity pits. Which is crazier, the Nasdaq at 5000 or gold at $730?

Of course, you can't frogmarch a rock, Buddy boy.