NYSEAM:ANV - Post by User
Comment by
granafirmeon Nov 02, 2014 4:33pm
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Post# 23086751
RE:RE:RE:RE:RE:Gold next stop
RE:RE:RE:RE:RE:Gold next stopGoldguy. we both have the same opinion. I would have squred my short positions on Friday also. specially If I had any in Silver. the data you posted must be accurate. I read the data from CFTC directly but somehow after Friday they are down . either way I will Recheck it tomorrow. maybe maintenance or their site . As for small specs I surely would go against them because that is the way the game roll for me. take another look at the clong term gold chart and you will see a triangle pattern that is becoming more pronounced as we go lower with initial suppor at the numbers I have mentioned and a possible 1000 bux. who knows when? case in place , gold at 100k IS below cost for majority of producers. What you and I have to hear from the world Gold council is a pickup in Physical demand... but.. that is my take. I am sure that a lot of Governments and big money is buying already at these levels. the one small discordance I have when reading the cCFTC ( and I will try and confirm ) is that If OI starts creeping down and prices go lower and longs liquidate at a lower rate , it means to me that shorts are exiting the trade and the trend is ending. I would keep a close eye in OI for sure. Another thing .. I do not think the mkt went down too far too fast. you lost 70 bux approximately...at about the same rate as it went up about 70 bux before breaking 1180 support. anyway. China PMI was another deception... like I said lets see what the mkts tell us after this coming week. cheers and Gl. nice talk mate