The Epic Gold Run

chicagosean

Gold has been on quite a run over the past few years. This is a surprise to nobody who spends any time on StockTwits and Chartly.

This morning, @andrewunknown posted up this chart on Gold which points out some key technical explanations for the move. Great stuff here. Of course, there is no one right answer that explains this move, it is an amalgamation of all sorts of technical, geopolitical, emotional reasons…and more.

As the upward move has heated up, there is no shortage of quick players looking to scalp a top.

Here is a sampling of some of the goodness on the stream about gold today:

@ampressman: Biggest gold ETF $GLD passed the S&P500 ETF $SPY to become the world’s largest ETF at $76.7bn as of Friday.

@simonsays452: In the last year my best performing long investment is my watch! haha – up 40% $GLD

@raoul_duke$GLD …stalled here…is it time?…starting to see cracks in the wall…drip…drip…drip…lookin hard at $GLL & $TBT for signals…HA!

@ggl26: I have no position but think people have been much to negative on $GLD. All it does is go up. You have to respect that. It’s a macro play.

And these two excellent posts from the StockTwits Blog Network:

Jeff Carter of Points and Figures is looking for ways to short the parabolic move.

Meanwhile, our man Phil Pearlman breaks down his thought process in his multi-year gold trade.

~ Sean McLaughlin: Editor & Curator, StockTwits (@chicagosean)


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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