http://www.ritholtz.com/blog/2010/10/gold-hyperoverbought/ â. . .we shall urge the greatest of caution upon everyone, everywhere regarding gold. It is not just over-extended to the upside; it is hyper-extended. It is not just overbought; it is hyper-overbought. We cannot strongly enough urge everyone to avoid buying gold here and we shall go so far as to suggest that those who are long begin the process of quietly heading for the exits and to reduce their positions to the most minimal âinsuranceâ positions possible. Everyone should have perhaps 5% of their liquid assets in gold, but at this point anything beyond that level is excessive.â âDennis Gartman, September 29 2010 This guy is such a moron. He has 2 talents - one is that he is able to word things to make it seem like he is right most of the time, the other is his knack for getting himself heard in the financial media. I have no position in gold, but am tempted to buy some solely on this news.