Monday, February 4, 2013

Europe Lagging

When I have I seen this before?  Usually when Europe starts lagging its only a matter of time before that starts weighing on the US and its market.  That is what happened in the past, but are we now crashproof with QE infinity?  Yes.  We are crash proof now.  It means there will be no financial panic.

I see gold price action as typical of an asset that is no longer loved, but still clinging to hopes of the past.  Gold will go lower, probably to at least 1620 soon.  

We are going higher from here, just hold your nose and buy.  We have pullback protection till options expiration on Feb 15.  So we ain't going down more than 2% till then.  If we see this year's version of panic, we could get down to 1490.  IF.  I doubt it, though, we'll just grind higher. 

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