I’m back in my office after a somewhat relaxing week in the tropics, but it would appear that I didn’t miss much. The new week began yesterday with a feeble attempt by Da Boyz to short-squeeze traders who went home on Friday expecting the world to end, as some traders always will. Fortunately, nothing of the sort occurred. In fact, the only disaster to make the headlines over the weekend involved some run-of-the-mill tornadoes in the southeast quadrant of the U.S. weather map. Meanwhile, Zacarias  “Zack” Moussaoui appeared headed for conviction, which should come as a relief to those who were concerned he might be able to plea-bargain the charges down to shoplifting, second degree battery or some such minor felony.

The really good news was that gold futures were flirting with the $600 barrier. In a bulletin sent out just before I embarked on my return flight Monday morning, I said that the June contract’s easy move through hidden-pivot resistance at 577.80 all but clinched a surge through $600. Some technicians expect a struggle there, but I’d say it’s more likely to occur near 624.60, a hidden-pivot that, like all other upside resistance before it, is bound to give way.  We’re determined to catch a ride on this express train, so be sure to tune to the Inside Edition if you want to come along.