Monday, November 23, 2009
Paperbugs Stand Down! Retreat!
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)?