I have been hammering the theme both in the newsletter and here at the site. Short-term is short-term and intermediate is what it is. So we can get hysterical about the CoT or we can dial out the picture, manage risk and realize that here is the state of gold… it’s FINE.
Downside should be limited to somewhere above the blue arrow in the low to mid 1600’s, which has been our big support all along. Can gold bulls deal with that? If they really believe their own b/s, then yes of course they can.
I am happy that the miners got clobbered today because it affirms why I write the newsletter that does not just set it and forget it, but rather tries to flesh out all the shorter term probabilities along the way as best as possible and let people do what they will with the information.
If many people are like me, they hate being victims of significant draw downs, even if on the way to bigger and better things. In not being greedy, I got rid of the DUST hedge today and have taken profits off of what I felt was a suspect holiday pump last week. But I have temporary bear positions elsewhere on the US markets. Though current analysis holds that this is, until proven otherwise, just the expected bounce in USD, and the long bond resuming its rise toward target (equiv. of TLT 131).
It’s gonna be a noisy next couple of weeks as the d Boys may get another kick at the can. These are the markets and they are going to try to screw up the maximum number of people as possible. Got to love it.Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates and NFTRH+ chart and trade ideas, or the Free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Oh, and follow @BiiwiiNFTRH. Support free quality content; please disable AdBlock on Biiwii.com and/or donate... thank you! Add to SocialTrade