For the reasons I outline in my morning report, I think we got the bottom for gold on Thursday. I actually picked the exact bottom and we bought Thursday morning at the open based on gold tagging the 50% retracement. This was a real time trade, not the after the fact claims to picking the exact bottom that we are going to hear in the weeks ahead.
However I didn’t anticipate the attack on the mining sector on Thursday so we got knocked out of our position with only a tiny gain. Still the metal portfolio is at all time highs. I’ve mentioned many times in the past that this is how the banks enter their final positions. They create an undercut that runs stops producing the liquidity necessary for them to enter large positions without moving price against them.
The fun is about to begin. Now we’re going to see if the relative strength in miners during the ICL is about to lead to a big rally.
I think it is.
This is hilarious. I’m still getting plenty of emails from the fleas yet not one of these cowards has had the balls yet to put their ass on the line and enter the challenge and make real time calls.