The most recent move, a good example of what happens when a one-way-trade gets unwound (see my blog post of earlier this yr, re: gold and oil), is now stretched and seems to have reached one-way-trade status on its own. So, net net, I'm looking for gold to reverse and eventually hit 950. Could go as low as 780, but I don't think it goes below 800.
Still working on quantifying this type of action in equities.
Still working on quantifying this type of action in equities.
1 comment:
Amen, brother
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