Loading ...Thanks ole buddy. I was just going back and forth e-mail with someone on the subject.
Him: did you act on it?
Me: Nibbled back in slow, bought some SBGL and NUGT. I like HMY too. Assuming we finally have a new uptrend for 6 months to a year or more, I don’t care about the first 20% of the move. I’m saying its time to nibble in on dips now.
Him: well yes you do care about the first 20% as you want to call the bottom to the day …but not even 2% lower than last summer.
Me: Dec 3rd was just the break-out rotation day and was only a SIGNAL for the FUTURE, nothing goes in a straight line. Combined with market action and news info that day, I picked up on and KNEW the Fed made a change. Nothing is a coincidence with those bozos. I know what they are up against.
Gold broke out 12/3 but went choppy lateral for the entire month after Dec 3. If we have a new up trend it can go for years again. And when you figure how solid Gold held over $1000 with a strong 100 US Dollar it was impressive strength to me.
Opposite with oil. Oil down WITH a falling dollar??? Means oil is even CHEAPER than it looks. Oil is finished for a long time. Oil easy to over produce. GOLD can NOT be over produced when prices are high, can only attract scrap gold. I heard 45% of supply comes from scrap.