Support...POG started it's recent run when the Fed started cutting in 2007. POG around 650 and change.
Really not much support till revisit 650.
Thought we'd see a down 100 POG day by now.
Like oil - charts look good till they rollover.
Question is with most PM stocks selling at $500 POG levels where do they go when we roll to $650?
Alot of XAU etf selling...and wait till gld - etf - starts puking gold.
Leverage works both ways.
Again perception - deflation coming - not good for gold.
Doesn't matter if it's true.
Have hedged with pm stock puts.
There are some interesting pm leap calls out there - go to Jan 2010.
Auy $2.50's and others.
Waiting for $8 silver and $650 gold. Could be days.
This bleeding is for the birds. Don't fight it like Puplava with his blinders on.
Yea....like i'm right - the market is wrong? Market is never wrong.
And wait till tax loss selling starts!!! YIPES!
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