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Wednesday, September 29, 2010

I Was Wrong About Gold

I thought $1,250 was a top. Sept. 4 I posted my opinion that gold would start to go down and go back to $800. It isn't happening.
In fact gold is up almost 5% from there.
At that rate it would be up to $2,000 in a year.
But I still believe gold is in a bubble.
And it is not easy to call the top of a bubble.
The shape of the bubble curve is usually a hyperbola followed by a quick crash.
How high is high?
Can't say until the crash happens.
When will the top arrive?
The future is not predictable.
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