Blyth was ready with the kitchen sink at precisely 6:00 PM EDT when the globex metals markets opened...to smash G&S. And sure enough gold was down $20 and silver down $.55 within THREE minutes!
But now here, 2.5 hours later, that was the LOW! Gold has gained back 50% of the drop and silver 75%.
Could there be another hit as the "congresscrats" play posture games? Of course...but the bottom line is that here is an endless supply of buyers waiting to sop up what they can get. Forget stop loss selling and fearful running away. EVERY drop will be aggressively bought and recoveries will occur in hours instead of days.
And PM stocks? Both HUI and GDXJ are at support. When big money leave bonds...and it will..a goodly portion will ballon us up like a pregnant rat.
Uh oh...just heard Obama-drama is going to campaign yet again via a debt ceiling speech....CANT WAIT! What ever the outcome with debts and cuts...IT IS TOO LATE!... QE3 here we come... G&S UP big into January soon!...pic
