GOLD STOCKS FAILING TODAY AS THE METAL FINALLY WACKED

 Yesterday I told you that GOLD STOCKS were breaking out but that my worry was that the metal was ridiculously extended. I asked what would happen if the extended metal started pulling in. We got our answer today as GOLD is down big…with the underlying stocks following as their breakouts fail. I read this morning that the GLD was worth more than the SPY. I read that bullishness on GOLD was at all time highs. Contrary indicators at work again. Of course, GOLD has also gone parabolic in recent days.

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.