Gold Going Parabolic

Wednesday, December 02, 2009

Gold's move through the previous all-time highs has been explosive gaining over 20% in less than 2 months. Some profit-taking is in order into a move so fast...only for the short-term though. The pace of this advance and the accompanying volume indicate that gold will run much higher in the long-term. I am a small profit-taker into this move but I still hold a substantial position.

I expect gold to pause in the near future and create a quick base. This will offer an opportunity to re-enter my sales with a good risk-to-reward. But, I keep repeating to myself: bull markets do not let you in so keep your position! My profit-taking is just a matter of prudence and allows me some flexibility in the event of a pull-in.


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