Wednesday, October 07, 2009

The Guy Bagging My Groceries Just Told Me That Gold Broke Out To New Highs and That The Dollar is Finished

I have to admit that on the Daily charts, GOLD looks extremely likely to continue higher.

On the long term charts, it is in a strong sustained uptrend.

The sentiment situation seems out of whack and skewed to the upside.

The good thing is that you can be long with a defined stop loss somewhere around the $1000 level.

Sentiment Alerts:

Last night on CNN they told me that the dollar was finished and that GOLD was at new highs.

Today on Bloomberg, literally everyone and their mother was quoted as calling for GOLD higher.

Short Term GOLD

Long Term GOLD

Long Term Goldcorp

1 comment:

  1. Well, when something is too good to be true, it usually is.

    Not short gold, or silver, by any means... but for some reason my fade alert is high on this one.

    I plan on checking in here daily from now on, btw. Digging the charts.