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Non-Tech : The Woodshed

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From: daveinmarinca	10/7/2016 8:18:53 PM
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Hamilton’s take today..... 321gold.com GLD closed at 958.9 tonnes, up 10 tonnes for the week so he’s right…..it wasn’t physical selling (they were buying)….rather COT longs stops run (longs down 38k close of Tuesday per today’s disaggregated report cftc.gov ). Next Friday’s report will probably show another big step down in longs. His closing thoughts….. “The bottom line is gold suffered an anomalous futures-driven selloff this week. As the gold price drifted lower through key support levels, futures stop losses were triggered. This automatic mechanical selling forced gold even lower, tripping more stops so futures selling cascaded. The resulting plunges in gold, silver, and their miners' stocks shattered their young-bull-market uptrends and greatly damaged sentiment. But these bull markets are very much alive and well despite this technical carnage. Investors weren't dumping gold, and extreme gold-futures selling is always short-lived. So the precious metals are due for a sharp rebound higher out of deeply-oversold conditions….” Hamilton’s portfolio was up an average of 2-3% today….my earlier comments on his portfolio at the close on Wednesday Message 30776019 basically stands…….so not withstanding Moriarty’s $16 silver buy point , we’re $1 above Trader Scott’s aggressive buy zone on the GDX tradingview.com TGIF

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