RE: This May Be It Always good to have some cash ready to deploy – just watch what TC does… he seems to have done O.K. for what little this one swings.
Here’s something I read this morning.
“Poor preliminary results in [U.S.] fiscal-cliff discussions are sending a wave of deflation fears into the global market system,” said Richard Hastings, macro strategist at Global Hunter Securities. That’s “being amplified by an alternative interpretation of the Greece situation, that the Greece debt solution could pave the road to haircuts on outstanding Greece bonds.”
“All of these are deflationary in nature and this nature is always a natural disaster for gold prices,” he explained. “But gold will come right back after other assets take a beating.”
Source: https://www.marketwatch.com/story/gold-weakens-a-touch-on-firm-dollar-2012-11-28?dist=lcountdown
I have also been reading that the majority of “gold bugs” suggest that in the short term POG is to stay range bound 1700 to 1750.
MTO?
Weakness in POG and lack of news may bring us down to .205, but it’s my belief (wish… also helped by the technicals) that it will be the last time because if there is a string of good news it’s going to go… if the USSclifford stays afloat we should start to see my favorite pattern develop (High-H & High-L) on good volume and you can continue to buy in the dips on the way up. There is a strong inclination in the technicals that this will happen. As far as Tax Loss Selling? I think most people that wanted out are out but there may be some final panics.
Note: The “hinge” is the ounces per month. If that starts to drop… OUCH!
GWH