Sunday, May 3, 2009

Time for gold to rally

The pullback in gold should now be over, and I like the $888 number.

Gold has good support at $852, but this market hasn't been as accommodating as the story that the charts tell.

I'd get long here, for a trade.

They've already stopped most of the bulls out!

And paradoxically, the ten year is starting to get set up to rally, but I'm not doing anything with that yet.

Buffett warned the Nebraska faithful about the dangers of bonds and inflation.

But if they hit the long bond for a few more days, I'd take the other side of that trade!

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