"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, August 7, 2009

Went out to wield a chainsaw...

Which was a lot more fun than watching the garish and oh so predictable display put on by the markets. Came back and what did I find? The S&P ended the day on the sag, back down below our 38% Fib target. Nice. What else did I find? The latest CoT report on gold.

Rut Roh. The specs love gold and the commercials? Not so much.