Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Tuesday, April 01, 2008

Gold Chart Forecasts Lower Prices

I put this chart together last night in preparation for sending out an RCE issue this morning. But then, when I woke up, gold was already down $20, and is sitting around the $900 level ...Is it worth chasing at this point (by using an inverse gold ETN)? Only if you believe gold could go to my next target of around 850. And this market is so volatile, that bet is more risky than I'd like.


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