Is it just me or is gold heading for a pulllback? If this index clearly breaks above the long term trendline resistance, then I think we are headed for gold = 2000$!! I personally think its too early for gold to shoot that high and we cant be seeing the effect of the money that fed is planning to print so quickly...I think they are in the phase of buying ink and paper now to make money out of it. My guess is currently this is just speculative money pumping the price of gold and we should see a pullback soon! The real hyperinfaltion trade will be towards end of this year or early next year! Just guessing as everyone else is ;).
Cheers,
Pankaj
3 comments:
Nice site.
Gold is definitely overextended... silver will be an even better short. I am considering buying some puts on SLV but I may just short the ETF... not sure yet... I was planning to do a post on options Greeks and basics sometime
Thanks RRY, I liked your site too and will be waiting to see your articles on options Greeks!
The spread in SLV puts is too much for the move it will make... but the chart looks a great short with a clean stop! I am inclining towards shorting SLW or other gold miners like ABX, RGLD etc.
Pankaj
Good to know Pankaj
I hadn't checked the SLV option prices yet...
The gold miners could be good shorts... gotta always be careful with mania charts like gld and slv... I us.wait until they start to flatten out and show some weakness
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