ml,
Hasn't been much fun, has it.
No, it sure hasn't and I'm geared not to be too concerned with near term price swings as I'm committed to a three year game plan.
It's got to be murder for the swing trading PM bulls. Ouch!
Funny thing is, prior to two weeks ago, there were no bearish articles to be found anywhere, and believe me, I was looking high and low.......
Now there seems to be a rash of negative stuff out there an it all seemed to "spring up" as the PoG broke beneath the $370ish level that seemed like such solid support for a week or so after hitting $390/oz. about a month ago.
That, coupled with the fairly recent extensive buildup of short positions in virtually every gold and silver producer leads me to believe that some hedge funds, aided and abetted by their journalistic accomplices have joined forces to run as many of the less sophisticated gold bulls out of the market as they can. With the presumption that I am at least partly correct, I would say they have been very sucessful at doing just that.
Well, one thing is for sure..... they ain't runnin' me as I have scrupulously avoided using margin to press my bet.
Regards,
Dan
Market Data 
Markets 
AI
