I note a lot of interest in gold. I'll share my experience dating back to the late '60's thru the parabolic run up in late '79. Gold, like any chart, resembles a retail operation: Inventory is accumulated, then it's marked-up as demand increases, it's distributed as supply and demand achieve 'balance' and then it's marked-down as a means of reducing the inventory. The the cycle tends to repeat. I sense that's what we're seeing now. Gold has been marked down and has been re-accumulated. A look at a long-term chart shows that it is in a new mark-up phase, (an uptrend.) It may gap on Monday. The chart suggests that it looks higher. But the conditions that were in place grom '65 thru '79 do not [seem] yet to be in place now, so I'm not looking for that parabolic run. The index and several gold stocks do appear to be very tradeable from the long side.
