Posted 24 March 2014 - 09:25 AM
i read battle for investment survival by loeb when i started in this biz. he said when you start in the biz you take a shot gun approach(briefly summarizing), say 10different areas of the market . then as you progress you get 3 good ideas. then 1 good idea. for better or worse my one good idea is the metals. so w/you gold fungus.
and i agree w/senor if the broads top and plunge, that sucking sound will be everything else coming along for the ride, except of course the bonds.
fridays gold cot showed the commercials selling an enormous amount of short contracts. silver was not the case. then this morning we get a familiar wake up call in gold. hey i have seen that trick before the opening before. no new tricks. if the bull is alive and well, then every couple of days i expect to read bullish news for gold. if this is a wave 2, which i think it is , then normal is .618 correction, @least. seasonally we approaching the end of the weak season. miners get exaggerated in both directions. i wonder how much gold is left in western cbs?
the support is stronger in this zone and even stronger in the 1280-1310 range.
dharma
