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Strategies & Market Trends : 50% Gains Investing

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To: xstuckey who wrote (76104)	4/9/2009 12:17:48 PM
From: Keith Feral	Read Replies (1) of 118717

Gold serves one of two purposes - speculation and inflation. The people buying gold for the past 8 months had no reason to buy it as an inflation asset, since we have deflationary price pressure for the past couple of years. So, the gold bulls turned their emphasis to gold as an alternate currency play, suggesting that gold would do well from a collapse in the dollar. Gold was a nice safe haven for the past year or two, but the direction of gold looks the same as the VIX and the SKF. Also, lot's of consumers are cashing in gold. Eventually, there could become an obvious supply issue as more people cash out gold at these levels. Like all the other hedges against the market, it appears to be in technical violation. I dumped my GLD last week and moved it to the USO. It's a more useful hedge to me if the price of gas goes up this summer. I don't have to buy gold, so I really don't have to worry about the price going up.

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