GOLDBUGS AMEX Goldbugs Index (GOLD)

[4Godnwv]

Lot's of opinions on how/why - most have the word 'manipulation' at least implied.

As long as we don't fall out of the channel, I take it all as a normal correction - support at 890ish then the 100dma @ 875 before previous R/S @ 848 -

As long as everyone has an opinion, I'll offer mine - they can prop the dollar up but it's still paper, and worth less every day!

If the Fed bails America out of debt, my bet is that we collectively run out and buy something else on credit. Just a matter of time until the flood of new dollars takes it's toll.

Who wants them?

2008 might be the last time that you can buy an ounce of gold for less than $1k - I am inspecting the trucks and reviewing procedures for backing up to the dock this week-end.