Gold Break?

Before I jump into gold, I found a list of commodity ETF's that may be worth looking at.
Do your own research to pick a fund you may like. I may toss a few bucks into DYY, double long commodities or GSG, general commodity funds.


I have been skittish on Gold, but long on resources
Today pretty much followed this pattern, Oil and Food advanced, while gold declined.

Just yesterday's post I showed a GLD chart, showing that if the trend stays in the lines, looks bullish.
Well, today we can argue that GLD broke below the trend, and therefore may be collapsing.
NOTHING goes in a straight line, I wouldn't be shocked gold goes higher between now and Monday back above the line before falling once again.

From WebSurfinMurf's Financial Blog

Notice in the next graph Gold vs Gold Miners (GDX). GDX is significantly outperforming gold valuations since the lows in 2008. This gives me hope that Gold Miners may get hurt as gold depreciates, but not to the same degree.
If GDX cracks below 32, I''ll get nervous on the Gold Miners.


For the most part, as happy John would say "Long and Strong" for my resource positions.
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