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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (26918)	11/25/2011 7:11:58 PM
From: GROUND ZERO™	1 Recommendation Read Replies (4) \| Respond to of 219486

I think unless a near miracle happens over the weekend in Europe, that gold/silver and stocks will have to continue lower despite any near term rally in the meantime... and I seriously doubt the politicians over there will suddenly become any wiser, they're just more political hacks like the ones we have here... I think Europe could easily go under... Italy today had to sell bonds at 6% to get money, our bonds are at near zero... I honestly don't know how Italy could ever pay the interest on that new loan... they're all prolonging the inevitable... this can only mean more contraction and economic deflation while the European banks begin to collapse... it may be a while before inflation actually emerges with any significance... I think gold could break 1600 easily and possibly touch 1450ish, and there will be pundits who will announce that the gold bubble has finally burst... that's when I'll buy my gold back, all of which I dumped today... I had tons of written gold calls, but after today the premiums are just about flattened out, no reason to hold any position in that market over the weekend... We could see a gold rally according to my model since we're now at a minor VP, but clearly no buy signal yet... also, since the rally off that minor VP has not really materialized, and we've been hanging around this level for a good week, I have to believe there's likely more downside to go in this market, which is actually why I decided to dump it all in the first place... GZ