Thursday, October 16, 2008

Gold Down Big

Just a reminder, our Oct. 9 post:

"I can distribute more stock on upticks than I can on down"*
-E.H. Harriman, railroad man and Wall Street pro.

And to the foul mouthed goldbug emailer:

Click to enlarge
Click to enlarge
Spot price from Kitco.

This October 10 post linked to some of our thinking on gold:

I Hope We've Been of Some Practical Use to You This Week: The Official Demise of the Oil Bubble

In one of the more interesting weeks in finance, markets and stuff that I can recall, part of the challenge is keeping ones eye on the macro picture when the headline emotional reaction is tempting you one-hundred-eighty degrees the other way. Specifically I'm thinking about gold, more after the link....