RE: RE: Gold and Silver Shorts are Losing Control"It's going to be madness on a scale unimaginable. Are you prepared
Caught between the Psylla and Caribdas, yes, I will be prepared to buy. And put fingers in my ears and sing la-la-la when the gold bear Harpies sing.
I've tried to listen to most anyone who had opinions on commodities and specifically gold in 2011. Many have said there could be $50-$100 swings in a day. Only a few think gold will drop low at the end of 2011. Most think gold will range between $1500-$1700. Now, if Bernanke follows through on his QE 2 and goes for a QE 3, the consensus seems to be $2000 gold next year. And Bernanke seems to have one answer and one answer only in his vocabulary: Just say no to inflation and print baby print...When housing prices drop another 20% next year, don't be surprised if the Fed starts buying up $500+ billion of mortgage backed securities. So Bernanke, PRINT Futher mucker PRINT.
Oh, and maybe the CFTC will actually impose contract limits on silver and gold which may help us out...Being that Asia is a big buyer in gold, I don't expect they will always be around to grab gold when it drops.....
We need toot et. al. to do some chart prognostications for us in those "violent" times.....