Gold Fever

When I trade I do not take much notice of who is buying or selling or who is rumored to be buying or selling. The only thing I look at is the direction of the market right now. Right now it is saying it is going down therefore the opportunity is to short futures.

The futures markets does tell a lot about the volume, open interest and the commitment of traders report (which is public) provides a nice summary of the commercial and speculative long and short positions of the previous week.

Too many people are now saying gold will go up in the unfolding global financial collapse. I like to always go against the crowd.

Gold will go higher but first it will drop like every other overpriced asset