an tSionna: Gold

I want to call your attention to an explosive move in gold the past two days. {Chart is of the gold ETF-GLD. You can double click to enlarge.} A move like this in gold is often viewed negatively by market participants as gold is considered by many to be a safe haven during periods of uncertainty. I don't pretend to know what to make of this other than that it is signalling something. A move to new 12 month highs might be considered another negative for market sentiment. No change to the Game plan that we've discussed recently. I'll simply view this as another signal that things have a higher potential to turn negative here after Labor Day.

*Long GLD for certain client accounts.

For some of our more recent market thoughts go to these links:

http://lumencapital.blogspot.com/2009/09/tsionna-90209.html

http://lumencapital.blogspot.com/2009/09/tsionna-september-1.html

http://lumencapital.blogspot.com/2009/08/getting-little-frothy.html

http://lumencapital.blogspot.com/2009/08/tsionna-while-im-away-part-i.html

http://lumencapital.blogspot.com/2009/08/tsionna-while-im-away-part-ii.html

http://lumencapital.blogspot.com/2009/08/tsionna-post-script.html