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Message: good reason for Portee to be right and gold to go down

Sep 11, 2009 08:22AM

http://www.ritholtz.com/blog/2009/09/gold-net-longs-at-record-highs

When market sentiment is that skewed (extreme extreme pro-gold), the market takes the fewest survivors possible with it ....

There are plenty of reasons for the dollar to go down and gold to go up, but that doesn't mean the time is right now today. When the enthusiasm gets shaken out, THEN gold will likely rally big.

I don't think the KXL story right now is gold price based at all. We have a story and a NR coming up.

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