I expect a technical bounce for the $330/40 area, and we are retty close. Mind you unless the dollar really get smacked to well under $.90 Euro, I don't see justification of the metal being above $400. Has BRCD been punished enough? I am trying my luck here at $4.12. That still leaves me in a quite bearish posture of 76% cash (including NEM...).
No surprise. Gold from $390 to $350, not even 15% down from the top. More should be expected. The question remains: A new secular bull in gold or a reaction within the 20 year old bear in gold. I don´t know so I am waiting (new low or break above $400). Plenty of time to wait...
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