at the very least you must think that the fed stepping back from a tightening bias bodes well for gold, regardless of all else.
Yo bro...I am long here with you in ZG after reentry at 640 and 645 three weeks ago. So you are not alone and today action was so so as it should have stayed above the 660 level and did not so I am caution here. lets see if next week brings the buying in with the end of month mark up.
Quawk, Those long puts must have washed away pretty quickly the last few weeks? R you still bearish on shinny stuff?
central banks are loading up from what i hear, using price manipulation to the hilt. i would love to hear a short come on here and give me their reasoning though. i wonder why we are not hearing from them?
Missed this thread somehow, myself. For a change, i dont have an opinion on it right now, but if you dont currently have a position, this is a tempting bracket area developing. http://charts3.barchart.com/chart.a...&vol=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix= December is the one to watch with the elections next year, theres often a rundown in pre election years, maybe some nice buy opportunities for sure. Edit-just saw your reply dilligent, re-shorts-i mentioned in another thread the similiarities of this entire move to, i think it was a period in 1996? Dont have the link atm, but that would cause me some concern, if i was holding long. Second, my method is very basic, and system wise would have been short for some time on this sort of move, so i cant imagine the big guys would necessarily do things much different, it works. Thirdly, the whole move down move was probably $Rearden$ taking some profit, so i wouldnt read too much into short biases