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Frytown, Iowa | Buford I think that last flush was this past action from the Bernanke speech of no taper... You can see the weak longs got broke there and again soon after... The bulls still hanging on or entering are bulls that are unshakeable or know something is up...
I seen the major Andrews fork got touched very nicely yesterday in both gold and silver... I do believe we have the lows set from before... This past run up broke the last minor short in both gold and silver. It's close enough of a stop at that level that I won't bet my life on it but I will bet significant (in my eyes) amounts of money, that being said I am strictly looking for strength here... If there is not strength and not a higher high... Then I will be sitting on the sidelines again... Just like I did last week when I don't see the strength in silver I thought should be there. And again immediately after "no taper" when I didn't see the strength I wanted to see there...
I'm long... But I need to see strength to verify this fork. I do believe this major fork is the correct one... If its not... And the past run up in gold and silver didn't break the last minor shorts but instead was kept at the same level... Then I would expect that level to be the halfways point down... Compare able to corn when it tried to break the minor shorts at 5.70 then decided that was the half ways point of falling...
I think the halfways point in gold and silver was the $30 area... It's already happened... This is the cherry picking lows...
Watch for strength... If there is no strength then I have to step back for a while. | |
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Gold silver...
