Crack Ho! (part 7)

May 19, 2006

Gold was down at one check over U$ 24 this morning, and stayed down. Bigtime. Closes for Fri 19 May ’06:

Gold: U$ 657.50,down U$ 23.40
XGD:TSX: C$ 74.00, up C$ 0.20, up 0.27 %

Target achieved (Crack ho!): From an intra-day high of U$ 730 last week, even to the close today, the drop is U$ 72.50, already within the predicted range of U$ 70 — U$ 100. Hopefully we’ll get some more, but it doesn’t matter.

Gold is toast? (Cracked wheat?): Will it stay down, or re-test the previous highs as conventional wisdom would suggest? I wouldn’t be surprized to see it go up near there, but I wouldn’t want to predict it. Hey, one week on the money (with no money), what more do you want?

I should also apologize for this rapid-fire, daily series of postings single-mindedly focussed on such a dully glittering topic. It’s been a good experiment, and I may return to it once or twice as needed, in the longer run, to tie up loose ends. But not every day. After all, better to quit when ahead, not a crack-head.

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