so, was that the bounce?, page-14

Tooli, who says I have no financial interest in gold?

I was long gold and gold stocks into 2011 and believe that gold still has not reached its ultimate high and as such am as keen as anyone to see the next major buy opportunity, but there is no way known to man that I will pre-empt any bottom in gold or gold stocks, especially when I see multiple reasons to be very cautious.

At present I am seeing call after call and articles galore calling for a bottom in gold or one nearby. Virtually every technical analyst is expecting that support will hld at he 2012 lows and provide the next area for launch.

That may very well prove to be the case. However it also greatly increases the chance that it will be broken.

I have stated here many times that I do not know where gold will bottom. What I do know is that gold and as such gold stocks have in the past followed patterns at major bottoms.
I have no reason to doubt itbwill be any different this time around.

BTW gold 1hr chart sporting a bearish wedge that could see Wednesdays lows taken out.