"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

Thursday, January 27, 2011

Gold

You might interpret this as the waning bravado of a shell shocked gold bug if the writer had not been cautious with silver above 30, gold above 1400, copper in blue sky and the risk trade on full.  No, today I am comforted and more bullish by the day.  Things are getting healthier as we flush the momos. 

My newsletter was a bit of a nervous Nelly about gold and gold stocks (while maintaining a pure big picture bullish stance) not too long ago.  Now, while not putting myself out of business by getting too detailed, the dynamics are in place whereby it is appropriate to become more bullish the lower the metal goes. 

Blog readers know some of them already, of course.  Like the CoT.  The actual public sentiment structure is another, and gold's probable support and retrace levels are another.  As for fundamentals well, do you believe economic growth is organic and sustainable?  Ha ha ha.

Look at the cliff jump gold is taking as I write.  It's beautiful.  But it's not yet to target.  http://www.biiwii.blogspot.com