A few of the fleas seem to think we’re riding the correction in gold all the way down. LOL not a chance. We’ve been picking our entries at support levels and getting out quickly if they don’t hold. Often we are even able to exit with small profits.
We made a nice profit during the bounce in early July. In fact the SMT metal portfolio is up 7% since the beginning of July and considerably outperforming all other challengers trying to trade the metals.
I’ve said this before, and I’ll say it again. The metals are one of the most heavily manipulated sectors in the world, possibly only exceeded by currencies. One has to accept that the rules are different in this sector and be prepared. It’s just the price one has to pay if you are going to trade the precious metals. On the other hand if you can dodge the banksters tricks and avoid getting fleeced one can make a lot of money quickly in this sector.