Two words… “Bear Flag”
Two more… “Whipsawed Again”
Didn’t you state in an earlier post that you thought gold was going higher and now you are stating this is a bear flag?
Not being a smart @ss, just wanted to know if I’m reading this right.
Yes that was Jorgy. Here is his quote: “Don’t be surprised to see gold and miners make a higher high confirming that the “double bottom” is in and that the secular bull market is still alive!”
He can’t seem to make up his mind, other than always posting something negative.
Gold is coming out of a daily cycle low. Even if it only retests the manipulation zone we could still add 3-4% to the metal portfolio which is already having a very respectable year. And on the slim chance that we might wake up one morning next week with gold surging through $1320 forcing a short squeeze and destroying the manipulation then we are already in and won’t have to chase.
Must you always be so negative? We caught the bottom of the stock correction with leveraged ETF’s and booked an 11% gain in 3 weeks. We did 17% in the miners in 5 weeks unleveraged. We probably caught the bottom in oil today.
How about a pat on the back for the good calls…
I noticed on my Brent Weekly chart that oil closed above the downtrend line its been in. If you have any thoughts on this they would be appreciated.
We bought oil today as it looks like it has completed a final intermediate cycle low.
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