5 years ago
Wednesday, November 3, 2010
Update
Looking at GLD and SLV tank, while the EURO/Dollar trade has barely moved is a strange event. I don't know if this is a shakeout or someone knows something. If it's a shakeout, we should see some buying right before the announcement, otherwise I'm not sure what to think, but there's no real catalyst for a move this big this fast. Something is definitely going on here.
3 comments:
QE2 set to disappoint would be a reason for gold and silver to tank.
I agree, and you know my outlook, but we have to be prepared for anything, so taking the devil's advocate side of things, it could also be a massive shakeout to buy at lower prices. This is not my opinion as you know, 3C has shown a correction in GLD, how far? I'm not sure of that, but it's best to look at as many scenarios as possible and be prepared for them in advance because when the QE2 hits the fan, decisions will be more emotional then rational, so it's best to make rational decisions regarding you plans in as many different situations as you can imagine now, before emotional influences come into the picture.
Keep us posted on GLD. Thanks!
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