@mach8@Bellavena85@123david321@GuardianAngel8@mercsman@ASXO@nzmicro@BrettVadar@bobasteve@karmalocust
Champs,
Ignore the bullshit theories regarding the POG, only consider facts, facts are below report for recent week
- Slam down in price was from bullion banks shorting the futures market with naked shorts, an approximate increase of 13.7k contracts (6.8%) to their net shorts from the previous period
- Managed Funds added to their net long positions 7.7K contracts (7%) from previous period.
- Other Parties added to their long positions by approx 3k contracts and this category and predominantly the group that take deliveries
- This is bullish for the sector as the slam down in price is done so using paper gold which the bullion banks don't even hold the contracts for, hence, why, the managed funds probably see upside in this and should only keep increasing their long positions as bullion banks at some point will need to close our their shorts.
- Bullish that there is still strong demand for physical deliveries at prices above $1850! There must be fears of a shortage coming up of the metal on the market
- In Simple terms, the POG is only down because a bunch of futures contracts(shorts) were dumped into market aggressively, selling at a really fast rate into the buy stacks. Like in gold stocks, someone selling stocks they don't own into the entire Queue of Buyers and sending the SP down to the lowest bid before new buyers can even set their orders. This is artificial SP manipulation.
- Let's see if the managed funds increase their long position next week.
- All this is setting a major temporary parabolic run in the POG which should drive some temporary mania in the sector at some point this year
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