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Pastimes : The Philosophical Porch
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To: Crimson Ghost who wrote (6242)10/22/2010 11:16:55 AM
From: Rarebird  Read Replies (1) of 26251
 
We'll find out soon enough....What I see is the smart money clearly selling into rallies and accumulating short positions on mini-blowoffs. You are right about Gold, of course, but that is a very early lead indicator. That is to say, the Dow and S&P can hit new 52 week marginal highs while the Miners continue to languish.

There is no question in my mind that these markets are headed toward a tremendous free fall during the time periods I specified in my early morning post.

Successful shortsellers are not impatient. They have tremendous respect and fear for the power of the bull. It is better to be a little late on the short side than to be early, as there is some risk for a blowoff, especially in Gold.
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