Loj,
I think you are right that something significant is happening with gold because it is as you say moving in the opposite direction of commodities like oil and in a big way. I've always thought gold would lead the turn around like it has in the recent past. Maybe in six months the markets themselves will turn back up.
Acanuck, "next big thing" - I was refering to NGAS as being the next big thing that could impact the demand for oil. NGAS as you say is very abundant in the US and Canada and so much cheaper than oil on an energy equivalence basis. I agree with Ponce though that it takes a lot of dollars and time to switch people from oil to an alternative like NGAS. Countries like Brazil that promote use of NGAS are pretty smart. Self-interests will prevent it from happening quickly in the US.
Come on PTQ, let's have a strong close.
JFF7
It's better to be out wishing you were in than in wishing you were out.
"Markets can remain irrational longer than you can remain solvent". - John Maynard Keynes
