Gold’s Worst Day in 15 Years

To quote Bud Fox quoting Sun-tzu:

If your enemy is superior, evade him. If angry, irritate him. If equally matched, fight, and if not split and reevaluate.

This here’s the splittin’ and now we’re reevaluatin’:
gold4.gif
Sorry to run this hideous chart again, but it’s the best way to show yesterday’s breakdown in gold. The metal hasn’t dropped like this since the air war began in the First Gulf War. That time, however, the stock market soared. This time, it sank.
Here’s a thought: Maybe Sptizer went after the wrong guys. If only he had looked in the commodity pits. Which is crazier, the Nasdaq at 5000 or gold at $730?
Of course, you can’t frogmarch a rock, Buddy boy.

Posted by on June 14th, 2006 at 7:04 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.