Gold Pullback

I've been getting emails and calls asking what I think about gold. 
In any bull market the downward moves are sharp as trend following speculators get out of positions.
The fact that this selloff is sharp and not on the back of a news event that shifts thinking tells me the bull market in commodities is not over.  As a matter of fact this "breakneck" move in the opposite direction is quite common 
in protracted bear markets as well.

I do think at some point this protracted bull market in commodities will 
get to bubble status as paper assets like bonds, currencies and perhaps 

some stocks become more lag in their ability to deliver real returns.

I am sticking with my positions in gold stocks (I prefer them at these 
prices to the the metal as mention in a previous post).  I may sell a 
gold coin or two on ebay once the metal hits $800/ounce.


Disclosure: I own gold and several gold mining shares specifically mentioned 
in a previous posts.  I own some GLD. (Streettracks Gold Bullion ETF)
Nothing in this email is meant as advice or a recommendation.