The referred post is extremely good stuff! I have been out of town and way behind here with reading.
G&S have had that volitility party. We were warned, but no way to really grasp such magnitude and swiftness! Europe is currently having a party....the mindset being, " YES! Greece will default and so will other countries, but let's have a stock mkt. relief party because we might find a way to deal with it!!!"...WHOOPIE!!!
Such brain twisting "logic" has us sucking our collective thumbs!
GOLD effectively fell $290 in 3 trading days, and had retraced back $145 of that by early this morning...50% fib retrace...and of course that stopped the rally. We will need move beyond a 63% retrace or one can expect a test of lows next week at Armstrong's turning point week. It does NOT have to be lower low, just a general test, or even a consolidation.
SILVER effectively fell $14.50 in 3 trading days and has retraced $7.48 of that...just a bit better than 50% retrace....same watch for silver.
So, all we really have thus far is a promising turn, but potential "dead cat" bounce. Will these lows hold or will silver get back to that $25 magnet and gold to $1500 next week?
Or will next week invert into a cycle high as G&S continue to rally into next week? Will AUMN break below $8...the very price ECU should have been earlier this year?
All I know is that they are messin' with my mind, and levels of blatent corruption have me searching out innocent wee children for a sence of honesty and purity.
FIND A REASON OR PLACE TO NOT FEEL BETRAYED! LIFE IS SIMPLY TOO SHORT!....pic
