"Gero said that people made debt ceiling bets by trading gold and stocks together. "One could have been a hedge against the other."
But now, with the Senate agreeing on a deal and voting about to start, "If you've been using [gold] as a trading vehicle, you want to get out, because there's no more reason to be on the short side of gold," Gero said.
In other words, if you were making a bet on gold and stocks amid the D.C. uncertainty, "You basically want to just square your book now." And for those who were shorting gold on the hunch that it would drop off of a coming deal, squaring their book means closing their short positions."
smart money has been accumulating gold for awhile now.
are you familiar with the historical statistics on the degree of rebounds which take place after sector-wide drops this big?
they like to say that the faster it rises, the harder falls. they forget to add that the same thing applies in reverse.
I expect that all the billionaires we meet in the next few years, will be those who held ONLY MINERS in their portfolios right now.
I tend to agree. People like tintin suggest a Gold bear and how this stock has dropped from the 40s...well that is a signal to buy. It has held above 4 when the "worst thing that could possibly happen to gold" has already happened. And we dropped about 12 cents, but are up the past two days. This stock is primed and ready...it is just a matter of time. When we do jump can somebody let me know if pete/tintin still post here? I have both aliases on ignore, but I predict the guy only posts when his prognostications ring true and disappears when he is shown for the fraud that he actually is.