Monday, November 23, 2009
Paperbugs Stand Down! Retreat!
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We're now getting strenuously overbought. That doesn't mean we can't go higher from here. But once the weekly RSI gets to 80, the odds favor a rest. All surprises will be to the upside in Gold - that's what strong bull markets do. I put in a bid to sell covered December '09 calls on my RGLD 2011 LEAPS and some bids to sell a few juniors that I think are a little ahead of themselves. They may or may not fill.
In the mean time, ain't it just fun to watch (assuming you're not a paperbug)?