shakeout coming, page-12

Phil, you said:
"The formula for going bearish gold is as follows;

OI greater than 400K plus Commercial shorts greater than 200K plus 90% bullish reading in large speculators plus EW bottom for USD equals gold market carnage!"

I dont agree.

400K may have meant something in 2008, but in the broader sense it means nothing. Look at the chart below.
Yes, I agree USD is in for a rebound.
Yes, I agree gold is going to correct (it always does at some point).
Yes, I agree high sentiment readings portend a correction. Sometimes (like '05-'06) sentiment was in the 90's for months before the big crash in May '06.