Re GLD: I understand the reluctance of many to even consider being short, and I agree with the concerns. However, my personal history favors ignoring fundamental concerns, except for having appropriate stops, and focus on the technicals (primarily cyclical/seasonal). The fundamental concerns are well known, and most cab drivers can list more than I can.
So, in 2008-2009 the stock mkt decline created needs for cash and the adage is to sell what you can if you cant sell what you want. IMO we are on the cliff for stks, and that could drag down gold. AND NOTE the daily pnf(atr) will generate obj below 1000 on the next sell (decline below recent lows).
It may not happen, and that is the game, but you have to be in position when the mkt is setting up, or there is no point in playing. And the SPX high which we are seeking and may have seen, will not have a subsequent low until early 2019. The decline should be substantial, and the pressure on all liquid items including gold should not be dismissed out of hand.
Thanks for the input, though. Good luck.
Oddlot
Stay on the right side of the cycle!
