If we take Sinclair the other day he was flat. Looking at patterns, he probably went long yesterday. He always says sell into strength but I am hoping for a little more strength. What do you think? We have had a nice run so far.
Today is a good day, but like Sinclair said last night, the big profit will be in holding through it. The risk is to sell it.
I think today is an inflection point in the $ and it will pause a little at USDX .80 with gold at 434 (next week), but then quickly plunge below suport and gold will quickly run back to 455 and chop there briefly before a panic run over 500 before May.
K, and GSS are going to fold up by multples during this time, outperforming the metal itself. The spin has collapsed and there is nothing to support the $ at all.
The only thing in the way is all the spots of overhead resistence. Hui took out its 200 and looks good for 210. It could doji or pullback some tomorrow in the stocks, it seems like everyone reloaded the boat early this week and maybe we are looking at the begining of a parabolic move at least I hope so.
Am tickled to see that my gloomy view of the pm's is having a day of reprieve....Tremendous weakness in the Dollar/Euro over past few hours, and obviously gold and silver are reacting quite nicely. Btw, Mahendra I think spoke of silver very favorably a few days ago.
I agree. Mahandra called for buy in silver and gold from middle of this week. I picked on Monday, accumulated on Tues and traded on Wednesday. I am a bit stunned today because of the gains my knee jerk is to take profits but with gold at 417 and last week it was banging 427 we still may have room to trade back up into the range. Thoughts?