why the big declines?, page-81

Hi Trader Paul,

My view is that buyers are shell shocked and fair enough, so there wouldn't be any massive whoosh! on the buy side as people don't know if a bottom is in.

A positive IMO is that the shorting is reducing ('just' 350k on Thurs) and the volume today coupled with the price rise indicates that the shorters are thinking twice about adding to their short positions... for now at least.

Read an interesting piece on ZH:

http://www.zerohedge.com/news/2013-02-20/strange-case-golds-regular-morning-mugging

Many Monday mornings just before the NY Exchange opens gold is smashed down. We'll need to wait for Monday to see if this happens again.

For most the gut churning volatility is too much to jump in boots and all this early (and fair enough).

Cheers
John