RE: Gold hit as funds go shortOk ladies and gents .. this was bound to happen and IMO its okay as now we can look at some buying opportunities again after selling into this last rally.. Today POG broke through 305 but didnt close below 305. So resistance at this point is still a question mark. LAst time POG fell it broke 300 but again didnt close below and thats all that matters. This time "may" be differen. I noticed gold stox havent fallen like last time as smart money is buying today for a mid term hold. Will we go below 300 is the question. I say its 60-40- u pick which side is which!!! BUT IF we do it will be breif so get the cash ready- wont have many better opportunities than the next couple days.
IMO.. i think we will see another down day for POG this week- so i have yet to jump in on the action. Personally with regard to K i think i will be a buyer in the mid 2.40-2.50 range.. Good luck to all and keep sharing the info- its the only way us small guys can win !
PS By the way POG IS going north in a big way one of these days- again- trade the channels right now to avoid unecessay pain!!!