GREY:PTQMF - Post by User
Comment by
Libertygon Apr 29, 2011 6:06pm
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Post# 18509704
RE: Gold Up $30 to $1560
RE: Gold Up $30 to $1560"The US will use the declining USD as a way to export its way out of both the fiscal and trade deficit.
Not a bad policy"
HUH? Sorry Rock but that one shocked me. The declining USD is the only POLICY left. Fleece the masses is the result. It's a sick, immoral policy, but all they have left. This ends very, very badly no way around it. But i would not characterize it as "not a bad policy" by any stretch, with all due respect.
Gold hit new highs again and aiming toward 1,600.00, Silver sputtering suddenly to make new highs. The whole investing herd is all over gold and silver now, lot's of red flags, and personally i believe an intermediate top is coming. The dollar couldn't be more bearish, which if we all remember the Euro and it's sudden turnaround, was equally bearish before it's big move up. Many very important signs pointing to key "intermediate" reversals coming in these markets. We are primed for a healthy correction and we should embrace one as it's far more healthy than a blow off run now. The dollar looks terminal and that alone screams bounce coming. Silver has a volatile history and can correct more than 100% just look back to 2008. I sold some silver today after a very healthy gain from 2005. A drop back to 30.00, 25.00, 20.00 would be adding again. This is the first time in almost 6 years i sold instead of bought, it's to high to fast for my comfort.
I would target 1600.00 area as a good spot for gold to top. And anywhere from the previous high, to 52.50, as a high in Silver that could lead to a correction/consolidation into June shortest, or better yet around October. Silver not confirming gold's move today to the upside. We are getting some warnings worth heading. We DON'T want a blow off in the metals, they always end very, very, badly. We should have an answer forming over the next 2-6 weeks if that.