Thursday, November 12, 2009


The focus of late has been on gold and it's breakout, I see it pulling back over the next week. But in the next several months hitting $1200+. Now crude oil $WTIC has been range bound the last several weeks, however it to will be breaking out. Oil lags gold by 3 to 4 months. I posted several charts, one I really track is the $GOL:$WTIC ratio, which has been tracking the US Dollar $USD. If the dollar breaks lower and gold hits my $1200 target, just a 12:1 ratio will put crude oil @ $100 and a 10: ratio @ $120. My favorite and suggest Itz Pix play is Transocean (RIG)...which could easily rally 20% near term.
*click chart to expand image

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