Newly2b...
Thanks for the kind words -- I'm afraid I have no insight or wisdom for this market and I am just sitting back and watching. I am long only gold stocks and have a few supposedly long term short positions that I have neither taken profits in nor been stopped out of (a number of positions have been taken out by one or the other) but in this market my stops are close and I have been taking profits when they are offered.
As I see it, the uptrend is still in place (that is why I take profits when offered) but the markets are struggling and continue to show distribution even with AG's continuing support. While he is no longer able to drive the markets higher at will, neither has he lost control to the extent that he cannot stop selloffs so we are at a stalemate for the time being. It seemed like a good time for a vacation and I am taking a hiatus (the first in several years) and enjoying it very much.
For the near term, I suspect that AG will do everything in his power to prevent downside momentum during this period that has often been the seedbed for panic selling and he may be able to hold the markets up until early next year if no really bad news develops anywhere. For the intermediate and longer term, I remain convinced that a sustainable recovery is not in the cards and the bear market will reassert itself once that fact becomes evident and the big boys decide to lock in their profits against current ultra high valuations and risk levels. I look for the lows of last year to be easily taken out as global recession begins and the bear comes alive again.
Good luck to you and to all here.
mlsoft
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