RE: Doesnt look good Forget technical analysis - it is 100% meaningless at this stage. Mass insanity/stupidity has gripped most market participants. This year expect somewhere in the area of $5 trillion+ (US) in new funds to be added to the system. And what happens? Gold is sold. North Korean threatens nulear war, and what happens? Gold is sold. Cyprus confiscates deposits from its depositors, and what happens?? Gold is sold. And on and on. Everything that happens in the gold market is counter intuitive. You have the Western Central Banks, Western Investment Banks and government controlled media that is working overtime on bashing gold in order to prevent a panic into gold. Where does anyone think this will end??? Does anyone in their right mind believe the LBMA has much real gold left? Does anyone believe the Western Governments will ever balance their budgets, let alone begin paying off their debts?? And does anyone believe that the world economy will return to business as usual as of 10 years ago?? Amazingly, the majority believe 100% in the very institutions that are about to wipe them out financially. Everything is out of whack thanks to false propaganda and misguided intervention. This will not end nicely - that you can count on that. Bonds and cash and paper gold/silver products are the most useless places to be, yet that is where so many prefer to be. They actually belive these are the safest places to be. I guess they will learn the hard way. Going forward, the risk is extremely high that any day an unexpected event is going to catch everyone in the investment world by surprise. Just like with Cyprus, you will find out after the markets/banks close, and you will not be able to do a single thing about it. What happens if gold resets several thousand dollars higher over the weekend? Or if cash deposits, bonds or gold certificates are confiscated over the weekend? Then what? Would it have been better to own a stock like SBC or would it have been better to be on the sidelines? What is happening right now is in the realm of bizarre. Regardless of where SBC stock goes (or other companies like it), at least one owns something. At some point, some of the clueless market participants are going to realize that they should own physical bullion - and you know what? The only way they will be able to buy it is at rediculously high levels from current prices - because almost no one is selling.... but only if your friendly local government hasn't shut the gold market down....