So am I. What a great sign!

We will very likely give up some of this move as it was so big and so fast. But I doubt we'll come back to the 0.80 level where the 325 EMA is.

With such a long moving average it doesn't flip and flop back and forth all the time. Generally when it changes it indicates a trend that will endure for a while. With the fast trading, low volume juniors it isn't as effective. But once a trend shift occurs in something like coal or gold or oil it is fun to get on board and in some cases it will run for years.

The reason gold sold off was the Dubai World announcement that they asked for a 6 month moratorium on their debt. Not knowing where this might go people started getting out of their carry trade positions (which had been lucrative) selling gold in order to get dollars to close the trade. Dollars are still weak; gold is still strong. This is an anomaly as it is actually gold positive in the long run. Paper has just shown that much more weakness.

P.