RE:RE:RE:ACN.V - Compare the charts to GEG
If we do fall that low I will double down or more...Would be surprised for .05 but maybe we could see .10...Why not? It really doesn't have to make sense, does it? Setting a target is almost a way of claiming you know what is going on, but who really does? This market has been fickle forever...
That being said, I see signs that the metals will begin to perk up a bit in the next week or two as we deal with the debt ceing...We just had to have a "breather" after the most recent run off the lows.
Apparently (According to Ted Butler and others) If you look at the delivery months, when JPM is a net issuer of gold contracts, gold gets smashed. When they stop contracts into their house account, gold rallies...That pattern is starting to change. These people that suppsosidely calculate positions based of the commitment of traders reports and other data have figured out that JPM has cornored the Gold market and is long 65,000+ contracts...The closer we get to december we are more likely to see a strong rally if this is true...
If I am right in the short term, I expect some of my other investments to rise and if GEG falls I will happily be increasing my position in GEG :-) at lower levels.
What a gift that would be!