Zeev's Turnips Patch-No Politics (ZEEV)

[Sir Realist]

You lnow, ML, looking at the gold COTS, http://www.sharelynx.net/Markets/Charts/COTAU.htm

I can see the technical resistance. However, on the LT charts, the COT chart looks like an upside down H&S. I would not be surprised by a sudden drop to the shoulder level again, but as easily, it could go higher very soon if the commercials prove tenacious.

I suspect the dip first, on a quick market rally, as they sell to cover. But LT, it looks like there's plenty of room for the shorts to increase, which makes me wonder how smart the smart money is, in gold.

With indicators like the VIXN/VIX where they're at, a 2-3 day gold dip on a moderate mkt rise is about all they're gonna get to unload any time soon.