Friday, August 5, 2011

Gold digging

12:43 pm (Hawaii) SGS noted a change of heart by J.P. Morgan regarding gold. I looked it up, sure enough...

Wall Street Journal: Gold: JP Morgan 'loves' it big time
“We love gold,” J.P. Morgan says. They add: “Many investors may look at the gold price chart with disappointment and assert it’s too late for them to buy. We disagree.”
So, this means one of two distinct possibilities are about to happen:

1. JP Morgan is long gold in a massive way, or

2. JP Morgan is short gold in a massive way

The mention about gold miners is probably more stunning and confusing. I'm all for it, having watched XG sink from 15+ to 11 recently. But something is up, big time.

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