The is a new direction that has appeared for gold - down:
While it is not my expectation that this will be a long lasting phenomenon, it could last longer that we may think.
This is not the turn of events I expected, and I may yet be proven wrong on Wednesday the Comex option expiration for gold and silver.
In my view, with the sovereign debt crisis building, and central bankers in developed countries reluctant/refusing to raise interest rates, a return to the bull market is highly probable.
In the very near term, shorts will likely be profitable.
While it is not my expectation that this will be a long lasting phenomenon, it could last longer that we may think.
This is not the turn of events I expected, and I may yet be proven wrong on Wednesday the Comex option expiration for gold and silver.
In my view, with the sovereign debt crisis building, and central bankers in developed countries reluctant/refusing to raise interest rates, a return to the bull market is highly probable.
In the very near term, shorts will likely be profitable.
With option expiration tomorrow PW, if they
ReplyDelete( JPM ) Cannot get Gold below $1320 shorts were going to feel the pain.
I worry not, and if your holding physical Metal, I wouldn't worry either..Buy the dip, Xmas 2011 is early this year.
I certainly do not worry about the dip. It may, in retrospect, turn out to be one of the best buying opportunities for physical gold remaining in the coming year.
ReplyDeleteYes PW
ReplyDeleteThat said, this looks simply like a correction in a very powerful bull market.
Be well my friend
Bill