Watch the birdy people...Gold Correction Tactics Part 2:
Stewart Thomson
email: s2p3t4@sympatico.ca
June 22, 2010
Excerpts...
As the massive head and shoulders pattern on the gold bullion weekly chart was formed, price moved to 1225, then fell to 1045, then hit another in the latest series of new highs on Sunday night, at 1266. From 1033 to now, your “gold boat” has sailed in relatively calm waters, under the protection of the near-at-hand head H&S pattern battleship…
My prediction is the next 12 months will see more leveraged gold traders wiped out in the gold market than all the wipeouts since the gold bull market began, combined! For all practical purposes, gold is on the verge of becoming untradeable for leveraged traders. Are you prepared?...
Those naked shorting gold against no physical core position are taking unimaginable risks. All the traders I know engaging in such activity here and now are lifetime losers in the market and there are a boat load of these top calling wieners in action right now....
The microscopic picture is a gold price non-confirmation that is producing microscopic weakness that must be bought, and buying occurring now by hardcore professionals, as gold is transferred from weak hands to strong, should cause a ballistic surge in the price of silver, gold stocks, the Dow, and general commodities, as they all confirm the new high made by Gold, the new all-time high….There are huge consolidation patterns on the gold stock charts going back to 2006. Some of the stocks have obscene upside price targets…
My firm view is that the next few weeks represent the end of the line for most gold traders who have taken themselves out of the gold market. They’ll make nothing in gold and risk being obliterated by hyperinflation…
How would you like the G20 to announce the USA is bankrupt, so they have decided to save you by devaluing the dollar 10 to 1 against gold, while YOU are 100% in the dollar, with zero in gold? How would that feel to you? What if that was just the first of a series of such devaluations? That possibility was not real before the OTC derivatives crisis. It is real now, and hundreds of trillions in OTC losses are being hidden from you. …
It’s too late to short gold now. The time was into strength on the move up from 1045 to 1066. Not now. Now the banksters are booking profit on their shorts. If you want to buy the banksters’ short positions like the fundsters did all day yesterday, go ahead and good luck to you, because luck is the only thing you’ll have on your side on that trade."
After reading the above, just magine how worthless the gangsters want to have you think SFMI is? How can anyone possibly be swayed by them is beyond me....like Grimm back a few posts. Mind boggling.
Know what you hold newcomers.