You are currently browsing the Fintelligence weblog archives for the day 12/05/2010.
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| « Apr | Jun » | |||||
| 1 | 2 | |||||
| 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 17 | 18 | 19 | 20 | 21 | 22 | 23 |
| 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| 31 | ||||||
- Dollar Collapse (17)
- General (24)
- Gold (186)
- 06/06/2011: The recovery failed
- 26/05/2011: Silver again
- 13/05/2011: $450 silver and $12,000 gold
- 11/05/2011: Oh well
- 09/05/2011: Some explanations
- 06/05/2011: NFP surprises
- 05/05/2011: Hi ho silver!
- 04/05/2011: Gold hits support and can still hit new high
- 04/05/2011: Is the top in? Maybe not
- 02/05/2011: Margin requirements take down silver
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- August 2008
- May 2008
- April 2008
Archive for 12/05/2010
It happened
12/05/2010 by Philinje.
Gold broke through to a new all-time high late in the US session yesterday. It’s now at about $1232. It also broke to new all-time highs in the Euro.
Looking across at equities and currencies, it seems like gold is the only asset with clear strength. We could be at the beginning of a runaway train to the upside. Gold is now officially in the clear with no obvious overhead resistance.
It’s tough to trade this kind of trend because pull-backs can be brief and shallow, and jumping in now or at a higher level could be risky. My plan is to see if we hit the $1350 projected top. At this rate, that could happen quite soon. If we get a parabolic blow-off top, the final high could overshoot $1350 considerably, but catching that exact top is near impossible.
Or maybe government intervention will throw some cold water on this rally, who knows. Fasten your seatbelts!
Posted in Gold | Print | No Comments »