Thursday, October 14, 2010

Nothing goes in one direction forever

The dollar is way oversold and gold is way overbought. However that does not mean that they cannot stay overbought and oversold. I am not putting new money into the gold stocks until we get a pullback. We are still in a secular long term bull market but we need a correction to wring out some of the froth and shake out some of the hot money and johnny come latelys.  

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