Loading ...1st of all note the outrageous action of the past 3 days–one day gold is down $12 all day long yet PM stocks are bid to near unchanged and some green–then one day gold is down 2 bucks all day and silver is up 40 cents–then yesterdays good action on a supposedly “always down” FED day..
.I have talked about how hard it is to catch a gold bottom–who in the hell would have bought positions 3 days ago…? But…but…what about just jumping in today? Sure after the months of conditioning wherein we have seen every rally stuffed…also note the absence of any of the bad news gol bugs assume will provoke a raging bull mkt. all the rallies I remember just happen like this=for no reason a switch is turned on–and for approximately 20 or 22 days out of about 25, gold goes up every day…then just as mysteriously, the switch is flipped off…
O, yeah, another possible “hook”–most importantly-the chart s were all very bearish looking with downside breakouts on the HUI and other vehicles…