Tuesday, July 30, 2013

I am not a gold bug

 I own gold for my own account, but I am not... REPEAT NOT!!!... a gold bug; I'll be bullish of gold so long as the trend remains upward and the fundamentals warrant participation. At the moment, gold seem un-loved with few net spec positions and a rather surprising small hedge/professional short position by historical standards, so it seems right to be long of gold; but again, I'm not a "Bug." and I clearly don't view gold "religiously" as the Bugs seem always to do.