Wednesday, September 15, 2010

Gold

The model gave a weak sell signal for gold this morning; I'll wait.

Gold hit a new record high yesterday - it's around $1,270 per troy ounce now. Central banks are buying. The public is buying via the ETFs.

My intermediate/long term target range is around $1,500 to $1,666 on this leg up, hence I think there is more upside. I'll do some selling beginning around $1,500, though.

A short post today as I overslept.

Word of the Day

"Effulgent" - adjective [$10] literary
Effulgent means radiant, shining brilliantly.
Sentence: A pile of effulgent gold coins is lovely to behold.

14 comments:

Frosty said...

Bunky you've titled to the lazy side in your old age...seniors do need their rest we understand...Sal is in three chatter rooms u know, just sayin.

Bunkerman said...

nothing ever happens on a Wednesday to give me an idea anyway.

mfl59 said...

Bunkerman what is your opinion on Chris Christie, the new NJ governor....if you have time read up on him and let me know what you think...

Bunkerman said...

ok, will look up some info on him.

Frosty said...

Bunky...what do you think about the honorable U.S. Congressman Peter DeFazio from the great state of Oregon...thx in advance.

Bunkerman said...

DeFazio is corrupt icon of the ruling classes; I gave $1,000 to his opponent's campaign.

Frosty said...

OOOHHHHHHH....so you have business interests here in south alaska...I've been known to tip "the girls" from time to time...can you send me a free pass for the champagne room?

Bunkerman said...

yup, I have a "club" in Oregon.

Frosty said...

OK...it is????

Bud said...

Checking in from my iPad



Wow Bman........just read the right to setoff..........that'scary




'tip the girls'...........huh?............but you're a ponce...........cut the crap frosty

Bud said...

Hey ponce.......do u people consider Greg Louganis national hero?

mfl59 said...

Iowa State athletics...You can too!!!

Frosty said...

WELLLLLLLLLLLLLLLLLLLLLLLL???

Bunkerman said...

oh frosty, if I told you where it was, you'd just get into trouble.

It's for your own good.

:)