Hi Seth, Looks like Gold should top on this next series of highs. I'm mentioning it here because I remember your comment.
GOLD: As expected gold rallied and made new highs, but is now close to an intermediate term top. Start to get defensive, when it turns down there could be a steep drop back to the $530's.
I dont know about 530 maybe u mean 630's????? Gold is in nice uptrend right now I dont know if u can get reverse and drop 100 points in any near future/
True! It should have a little more to the upside and then depending on where it actually tops, there will be a better indication of where the next bottom might come in. But the Gold stocks are not confirming the recent new highs in gold and that is usually a cause for concern, as well as the fact that it has almost completed five waves up from the $530 flat it posted in Feb/Mar. In other words, it's no time to be getting long and probably time to start taking profits.
oooo.......no for short period of time say 1-10 days ill be short but then Im long again, US dollar is not doing to well, plus all other geopolitical circumstances come in.