Sell gold. Get whiplash.

090909gcFrom positive to negative in one day.  The last two days went from bullish to bearish in a trice.  The formation now looks like an exhaustion gap which has been closed.  Tomorrow (Thursday) we will look at the market and probably close all but our core position in gold depending on price action then.  We’re leaving the silver position on, but and argument could be made for closing it too.

At the same time determined long term holders might be justified in a stop 5% under the August low.  Long term trend traders will win this contest sooner or later and those who just ignore these short term gyrations and accept the equity volatility will eventually experience the ultimate satisfaction.

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