It would be difficult for us to be more suspicious of this market. Jaundiced is what we are. But, like Lucy and Charlie Brown and the football we have to kick this one. A screaming signal if ever there were one. So we are adding on to our GLD and SLV positions.
We will track it and try to scale out some on strength if the chart warrants, but we will never (never say never — ok, mostly never) liquidate our core metals position. But we like sparring with gold. You know of course what happens to sparring partners. They mostly wind up with bloody noses.
The real winners of this match will be those with the patience to follow this market with Basing Point stops and laugh at attempts to dislodge them with sharp drawdowns.
Hi yo gold! Wait. How was that? What was the name of the Lone Ranger’s horse?