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Plunger Apocalyse NOW

Posted by Samb @ 13:50 on October 8, 2014  

A very well researched and thought out blog, It can be seen in full at Goldseek or FGC’s Gold Tent. Basically it says that there are 3 phases and we have now entered into Phase 3, the final and very shocking Capitulation Phase.

However there is a far worse capitulation scenario, imho. What if we appear to bottom in here right now. Gold and mining shares would appear to be spectacular bargains. Newsletter writers and analysts would say that the 3 year is over. People would breathe a collective sigh of relief. Institutions and hedge funds would pile in.

The last Int high began in early June and ended just 6 weeks later at $Gold 1340. What if we appear to climb out of this major bottom but it ends short of 1340…say 1300 or 1280,etc. That is a lower high and suggests that Gold would then slice below 1180 support like a hot knife through warm butter. The gold bugs remaining today have read all the forecasts of Gold 1050 or gold at 1000. They are somewhat emotionally steeled against that event. But, if this “final bottom” rises and then fails below 1340…All hell breaks out.

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.