gold, a few good economists

When shorting GLD earlier this month, we wrote that "GLD last traded at $86.23 We view this idea as high-risk, and the technical picture could dictate we close out at a loss should gold trade much higher, roughly closing over $900, which could easily happen imminently."

Gold has closed over $900 twice now, but barely so. GLD closed at $89.50 This could easily go either way, but even if gold is a bit higher it remains in a downward trend since it crossed over $1000 last summer and we believe that downward trend will continue as general deflation continues.

Similarly the markets could go either way, but appear to us to wish to go downwards.


The following link opens as a .PDF document. Kudos to these good economists.



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