Mostly: Classical

[ItsAllCyclical]

Those blue lines can be quite useful. MFN provided a good update this morn and still very cheap FA, but I've been doing more selling this morn as I was still overloaded. I think it could go to 7-8 ST, but could still visit below 5 as well. Selling to the pt that I can tolerate 5 again if seen. I'm almost at my core allocation at this pt for PMs. I think we could see a blowoff to 1100-1200+ on this move, but it also appears that 900 plus or minus 20-30 could also be in the cards. I don't want to take myself out as long as there are cheap FA plays to be found.

Originally my plan was to add more physical once gold crossed 950-960, but at this pt I think I'm content to just hold what I have and add if 900-920 or less is seen again. What happens to PMs and gold if new lows are seen on the main indexes by say 5-10%+? That's my concern at this pt along w/big divergences being seen in the large caps relative to gold.

What's your allocation at this pt and what are you think ST? Seems a lot of people are on the same page at this pt sentiment wise. I've seen a number of bulls getting bearish which leads me to believe we blowoff to the upside first.