Gary's latest update on X. Tend to agree that we are due a bounce. May put in a few buy orders to get some exposure to a possible bounce.
There's very little chance that gold will bottom this month. It would need to crash another 150 points over the next 2-3 weeks. I doubt that will happen. More likely there will be a convincing bounce soon that will draw gold bugs back in prematurely then fleece them when the C-wave decline drops to a lower low.
But don't let emotions cause you to start making stupid decisions. This is not the end of the bull market. Gold is only 2 years into this 8 year cycle. We still have a breakout from a 13 year cup and handle base.
Keep your head on straight. Once this intermediate degree correction has run its course gold will have another intermediate rally to test and likey break above $3000.
I'll say it again. $100 silver will be a piece of cake. $7000 gold will be a piece of cake and $250/$10,000 isn't out of the question
