shorten? het ritje gaat dan maar tot de 580 voor goud volgens Frank Barbera:
S&P 500 showing extreme Put/Call and bearish sentiment data today strongly suggesting that a major double bottom reversal is likely. With S&P re-crossing 1250 to the upside in the hours ahead, odds will increase substantially that a major market bottom has been seen. Initial upside target for the S&P would be a recovery rally back up toward 1290 over the next few days, at which point some short-term price resistance is likely. For the Gold Stocks, the XAU also looks set to bounce with an initial near term target of 133 over the next few days. Importantly, I do not believe that this first bounce for the XAU will HOLD, and as a result, odds are very high that after a bounce, the XAU will need to retest the 123 to 125 zone likely headed into mid-to late June. At that point, we could be looking at a more important medium term bottom in the Gold Stocks and in Gold Bullion itself.
For the time being, Gold is still locked in a downtrend and the commodity complex looks unstable -- surveying not just Precious Metals, but Energy and Base Metals as well. I am not ruling out a dip in Gold in the near term as far down as $580 – the area of the February 2006 highs. That said, in general, -- things are starting to get more interesting with respect to a potential bottom in both Gold and Gold Stocks, and I expect that more evidence will pile up over the balance of the next two weeks. For now, we are standing aside on the Gold Stocks, having been stopped out of our trading long positions the other day, this current rally is really only suitable for ultra-aggressive traders where the Gold Stocks are concerned and at that, is probably not going to be large enough to make real money. IF the S&P is successful at assaulting the 1290 level over the next 4 to 7 days, odds are high that the market will gradually ease back down toward the 1260 area going into the end of the month, at which point, another very major bottom should be at hand.