"Have you been drinking again?"

Well it's Friday night and I'm drawing up deposits, that should answer that question ; )

I'm honestly not surprised. I've posted before that I'm not one of those "golds going to $2000 or more" guys. I don't believe that theres a concerted effort to keep the price down, at least not one like GATA would have you believe.

I was surprised when gold did $550. I was surprised when gold did $600. But when this credit crunch took hold, the long term bullish trend based on supply and demand saw an exponential increase to the demand side. Where else you going to keep you money as government print their way out of this mess?

Keep an eye on the huge short positions on gold. As long as they maintain, any pull backs should remain short and sweet. "The gold bugs of gold bugs" are doing their part also, for example I saw Gartman take a lot off the table the other day, two days later he was buying back at a higher level. Watch for a blow off top, a $40 more jump in 24hrs, and a correction should follow. Until then, this trend is up and the trend is always your friend.

(NOT INVESTMENT ADVICE)

Regards,

Buck