Loading ...Going back to the March bottom threat, I had opined that I did not think that $1150 would hold but, had hopes that $1100 would. Based upon BS Fed minutes and employment reports gold held, went up, stalled and then crept along the $1200 line. Now, Gold is threatening again to challenge and break down thru that $1150 marker.
Going back to 3/17/15, I opined that a true bottom was never hit and that the rise thereafter was a giant fake out/whiplash. I finally bought into the “breakout” and did buy calls. However, its apparent now that the down cycle that began in late Jan. is still in play and that the bottom of this cycle is still ahead. It was all one GIANT fakeout…the likes of which I have never seen.However, there is no way that the rise from 3/17 can be considered a legitimate Int. up cycle.