RE: " Regretting I was to [too] sick to short yesterday...."
<ggggg> Hutch, you were in fact too scary to short yesterday as that Yellow metal had huge run up. Now you are regretting because it is hindside right???? <ggggggg>>>
To some points you are right, yesterday run up due to Option on future expired [BTW, not future expired as you claimed] future October first notice day roll over day,etc has some impacts on yesterday huge move.
But fundamental and market sentiment has changed significantly. CB has no longer that big sell off threat plus IMF, either. Gold has huge turned around.
I heard some called "big spike pattern", today ornext couple days is just a correction or consolidated this huge gains in a very short time frame.
The trend is up. TEchnically, it had that $325 barrier to be overcome.
After that breakout, gold will be $400.
CB set sale and lease limits also set time 5 years.
Within these five years, policy makers will be changed anyway.. CB will no longer be playing in this demand and supply equation. As I remember correctly, Alan Greenspan would love to have gold to hang in around $400 for his chairman tenure of that FED. So $400 is my target of this bull has to reach, I bet it will happen sooner rather later maybe much earlier before Y2K.
Good luck to you, if you have the gut to short. [But I am so sure you would nothave that gut to say the least.]
John Paquet |
