Friday, August 27, 2010
Short Term Profits
I was just made aware of the TRIN being at .53, this usually will mean a close lower the next trading day, that is not uncommon in a bounce, but there's a chance and I wanted to let you know. It doesn't in itself mean the bounce is over, just Monday has a piece of the puzzle suggesting a close lower.
1 comment:
Just wanted to say great call on the market and oil bounce (so far) Brandt, 3C is proving it's metal in the face of volatile actions by the powers that be that try and shake as many people out of their positions (both long and short) as possible.
If you get chance, could you do a summary of what you/3C sees for precious metals? I remember you posting a chart for GLD (a gold proxy in affect) showing it heading downwards. But the manipulations of precious metals by the powers that be are well documented and proven at sites such as gata.org and zerohedge.com. Could the selling seen in the likes of GLD just be the naked short selling of precious metal derivatives by large short holders like JPM, HSBC, et al to try and suppress the price.
I'm a great believer in precious metals, especially when the governments of the world can dilute the peoples wealth overnight by printing more money and in times of great uncertainty. Anything the government doesn't like it's people holding, i'm all for.
Could you also include some analysis of gold mining stocks if possible as i believe they went ballistic at certain times during previous depressions.
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