Gold -- Meaty, Beaty, Big and Bouncy

Earlier this week, I talked about how gold looked like it was going to bounce higher from the 50% retracement of its big bull move. A 50% retracement isn't uncommon in bull markets -- it can set up the next leg of the advance.

Now, sure, gold could fall out of bed on Monday. But looking at this chart, I'd say 611-612 is the next target.

Is this "the" bottom. We don't know. Is this "A" bottom, one that sets up a playable bounce? Very likely. Red-Hot Canadian Small-Cap and Red-Hot Asian Tiger subscribers already received their recommendations. Those RCS stocks bounced nicely after I sent out today's issue. RHAT will have to wait and see what happens on Monday.

Good luck to all.

Check out my new gold and energy blog at MoneyAndMarkets.com