My buddy Olivier ran this great article on gold the other day, so I thought I’d repost some of it here and provide a link to his site.
Gold is now trading at all time highs. That’s very bullish technical action. We have a confirmed ‘true bull market’. I am using the term true bull market as opposed to ‘cyclical bull market’ which is a counter trend within the primary trend of a bear market. Gold is the only market out there printing all time highs. It therefore is the one market that has the best potential for explosive moves to the upside. There is no overhead resistance, nobody has the urge to sell.
This is the perfect setting for prices to go parabolic.
Read the rest of the article at the Tischendorf Letter: Gold Price Trading At All Time Highs – Displaying True Bull Market Characteristics.
Victor Sperandeo echoed JP Morgan’s wisdom, saying “right now, gold is the only real money.”
And that feeling that you’re feeling about gold being too high…it’s the feeling you need to embrace b/c it’s telling you that gold wants to go higher. Listen closely. Make that feeling an ally.