I’m going to go with “FIRE.”
Last Tuesday I wrote about resisting the revenge trade in gold, for stubborn gold longs. While today’s plunge might be a washout bottom, a weekly close below $148 on GLD sets up the nasty potential for a sustained move much, much lower. Given how many bulls in recent years have staked their gold claim at $148, you can imagine how much pent-up supply there is should that level be definitively lost. Let’s see how they close it.
Also, thank you for all of the chart requests and feedback last night. I enjoyed doing the seven-part video series. If you missed it, feel free to start here with the first video and work your way up.
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can i get a shout out my dude? 😀
You nailed it. Great work.
My hat is off to Chivo. He has taken it.
You’re a good man, Mr. C. Thaler!!
Congrats to you, chivo.
appreciate it fellas!