Replies to post #64418 on Traders Cooperative

[Must Be Patient]

IAC, if you get a chance, can you elaborate on your reasoning? My gut says that we will get a typical late April-early May low in the gold sector, maybe accompanied by a brief dip below $1000 gold to flush out all the weak hands, but I see compelling evidence for the bounce continuing here. I posted the Rydex data ending last Friday. Since then, Rydex PM investors have actually been net sellers the first two days of this week. I take it as pretty bullish when a nice rally has a lot of skeptics. The gold sector has a way of rallying with as few investors on board as possible (I know it's rallied without me being fully exposed plenty of times). The precipitous drop below support late last week coupled with the surge early this week has left a lot of gold bulls underexposed, IMHO. They could provide fuel for a continued rally.

[orion.colorado]

Thanks, IAC. I appreciate it...This morning also extricated from SD for $28 loss; GDXJ pared back to half position left at 24.68 (might sell a call at $25 for some cushion on any push of the 1115 SPX area). Profits on extricated half; 24.04 out at 24.19. Covered ss on SPY from yesterday's closed: 110.44 to 109.90.

Missed the 24.25 this a.m. due to kid clamber.

Working towards cash.

[Must Be Patient]

IAC, I saw your gold commentary on LG's board, thanks.