Spot gold didn't quite make $1000 on the bid, but futures and the ask did, before settling back. The Fed has been kind of gold during the recent months. Let us see if that streak continues next week, with Fed futures traders betting on a 75 basis point cut. Long term, I continue to believe that there is plenty of fuel left in the gold rocket. Short term, a lot of fish have been hooked, with more and more newbies jumping in and buying when they didn't want any gold at $700, or $400 or lower.
With oil spiking up, airlines have been spiking down.
Positions: Long IWM hedged
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