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Gold/Mining/Energy : Gold Price Monitor
GDXJ 96.06-1.4%Nov 17 4:00 PM EST
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To: Bobby Yellin who wrote (14389)7/11/1998 8:02:00 PM
From: William JH  Read Replies (3) of 116762
 
Bobby - Re: Dohmen says gold may reach $250.

After many iterations, I have finally understood why it is so easy to sell at the bottom. It goes like this:

1. I'm in a losing position and worried about downward gaps.
2. The news is all bad. There is little or no hope.
3. Paid experts are predicting the worst is yet to come.
4. Many of us reach the maximum pain at the same time and
sell.
5. The bottom is in.

I can't say the bottom is in at this time, but my visceral reaction is the same as it has been so many times in the past. I have been "this close" to selling out my gold positions in the past two weeks.

WJH
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