I think Prechter could be right, but Tyhee should be the part of your portfolio you're prepared to lose anyway. This is a homerun or zero type of proposition. What better hedge against the deflation argument not proving out? I personally don't feel that gold is in a blowoff top as some out there are saying- it has none of the technical earmarks of a blowoff top. So we'll eventually get one, but it hasn't happened yet.

One thing Prechter hasn't addressed yet is his count on gold. He claims this is wave B up, but this count diminishes in value every day we get farther from $1100. I wonder if he'll still say this is wave B if gold were to hit $1400? I'm not knocking him, but I think it's unwise to allow your 'view' to color your technical outlook.