The same technical “entrails” that I was looking at last week that suggested 830ish was a short term top last week is now generating a similar signal on the down side. Also Bob Hoye is looking for an important low this week (who am I to disagree). Something to consider, during the summer at the high for oil 1oz of gold bought less then 7 barrels of oil , on Friday 1oz of gold bought 18 barrels. That’s a trend change my friends!

I’d say for the next couple of months the ratio will back off a bit in a similar way to silver , seems like April 09 is the next big line in the sand (ties into Armstrong cycles as well funnily enough)