GREY:ALXDF - Post by User
Post by
goldopportunityon Apr 07, 2017 3:08pm
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Post# 26093453
fwiw......
fwiw......Welcome to the world of volatility, folks. Haven't seen latest cot report but I suspect the commercials increased their short positions. Then today when the pog zoomed up past the long-term downtrend line, the shorts decided to pile on even more short positions in order to drive the gold price down. It succeeded.....for now. But starting next week we should see pog close above the downtrend ($1266 area). When this happens a short-covering rally will take gold up to the $1315-20 level, maybe even as high as $1330, before a fib retracement. Don't worry if your jr. gold stox appear to be doing nothing. It's just the MMs trying to make you think that no one wants your stock. The pros are just "playing you". Generally, the jr. golds follow the hui and xau. Case in point, today we finally saw the gdxj touch the 50. So stay the course. Gotta go....Talk later. Jmvho