Please do not fall for this classic manipulation. Please do not make the gold banks happy by giving away your physical. Please do not throw away gold shares because the hedge fund have worked black PR so well that they even have convinced some well known community physical gold merchants of their bear position of shares.
How many times have you seen this not to recognize what it is? Well, this is the big one and last play to denude you of your position. Remember, for every seller there is a buyer. Has not every reaction in gold since $248 attempted to do just that? This big one is no different.
Fundamentally we are approaching the period in gold when it will move up the most points in the shortest period of time. The paper gold market is being used to shake the bullish tree harder this time than any time before because of what is to come. Fear is the most powerful emotion in markets and it is being used perfectly to enrich the grand names of finance at your expense.
Remember how you felt during the first reaction above $1000? This is nothing different. The take downs are planned for times when the market is least liquid either inter day or inter market. This is not liquidation, it is price movement only. I used to do this for a living. I don’t think, but rather I know.
Clearly the gold banks will try to get gold into a capitulation point. Hear me: We are right in front of that time when the market performs a classic bottom both in shares and physical. From this point gold is going to and through $3500. That is why what happened today is happening in the first place.
If you are unable to buy at this time there is one thing you can do. There is one way to get into the fight and out of the stands. That act is do nothing, and do not capitulate. Let them play the price game, but give them nothing whatsoever of yours.
You can exhaust the downside manipulation by not letting it work in the classical terms. You can get into the scrap and not just be on sidelines by calling their bluff no matter how much temporary pain needs to be confronted. We are more powerful than even you know. We have what they want, and we can simply say, NO!
I have no clue as to how low the manipulators will attempt to take GSS this time, but I think that gold won't go lower than $1620. If so GSS shouldn't be pushed lower than $1.40. As Mr. Sinclair says I think that this final manipulation has about a month to run before the shorts , naked or not, are over run by rising gold prices and lack of sellers. They can BS sell back and forth between each other, but that will have less and less success. I believe that by March we should be over $2 and climbing $0.10-$0,15 every day. I don't follow NUGT so have no answer. Nice post HEWHO
I bought Feb NUGT $10.00 calls on Fri.
The reason I did so is because the NUGT 60 min chart is showing a PPO/ADX pincher with an ADX over 55. Approaching extreme.
8.09 was the ABC down target off of 11.82, on big volume. It filled. No guarantees of a true bottom, but this formation says bounce to me. Bare in mind, however, it won't be bouncing until the ADX turns down.
The daily is at a triple bottom, if it is a bottom.