Gold Commercials BEGINNING some sizable covering.
cftc.gov
Remember threadsters, these figures are A/O Tuesdays close.
But, even considering that there was a lot more covering Wed thru Today? Commercials are likely to still be significantly net short when next Tuesday's closing positions are reported a week from today.
Sure we could get a strong reflex rally, at any time, in the golds. But, after that, there's considerable risk go lower.
No price predictions. As always I'll just try to stay on the right side of the trend. So far, so good:o))
A FEW here have posts on record that they sold heavily into the recent top, and stayed hunkered down in high cash all the way down.
FWIW, during the past month, my cash allocation has been running between 50 and 80%, with a very low allocation to PM stocks, some physical gold, and some core E&P positions to round out the total.
Cash currently 65%.
Have a good weekend all,
Isopatch |
