Out Fox The $treet

After an amazing decade run, Gold (GLD) has finally run out of steam. Nobody seems to know why gold would collapse now if Europe still a disaster area. Probably more that the trade became too crowded. Never was a fan of owning the physical commodity, but clearly it was a profitable trade. Anybody still owning gold should be careful as the GLD has broken solidly below the 200ema. No reason for Gold to remain in the $1,500 level. Update: Interesting post from Seeking Alpha. Note the huge difference in performance for Gold versus the Dow would make me concerned about owning last decades winner and this decades loser. 12:38 PM  A nice late-year run by stocks combined with the fall in gold prices has allowed the DJIA (with dividends included)  to pull ahead of the yellow metal's performance for 2011 - a massive turnaround from late summer, when gold was in the lead by 26%. Goldbugs retain a big advantage over the last decade though, +465% vs. a 54% total return for the D...

Not much talk today about the stunnng reversal in gold for the second time in the last month. Gold has now made two attempts in overnight markets to break above $1,900 and more specifically the $1,915 to $1,920 range. Both times the move has failed miserably. Interesting to see the home page of Seeking Alpha this morning featuring the potential move of gold going to $2,000. Ominous sign of a peak? Read the full article on Seeking Alpha.  Disclosure: Long FCX. Please review the disclaimer page for more details.