Oh Skol, Skol, Skol mate I missed this gem from you:
>>>HEDGE FUNDS REDUCE BULLISH GOLD BETS AS "BIG BOYS" ARE STARTING TO GET OUT.
Hedge funds reduced their bets on a gold rally to the lowest level since July 2009 after the metal climbed for 10 straight years.
The funds and other large speculators held net-long positions, or wagers on rising prices,totaling 144,236 contracts on the week ended Jan 11 on the Comex in NY, US CFTC data showed on Jan 14. The holdings fell 9.1% from a week earlier following a 6.7% drop in the previous week<<<
Mate you really DON'T get it do you!.....In your desperation to prove your case you have shot yourself in the foot. You throw terms around like "contrarian indicator" but can't recognise one when it hits you fair and square in the face.
Buddy you know what happened to the gold price after July 2009 surely?
Well in case you are not aware it bottomed in the first week of July 09 right along with the hedge funds being as light as they had been for years and then in the final week of August it broke through $1K for the fourth attempt and it hasn't looked back since before finally topping out at just under $1.25K in November....and what a beautiful run it was thanks to the DUMB hedge funds, who I might add, couldn't even see the GFC coming.
And as it tokk off it was the Hedgies that did a total backflip and piled back in and were one of the main drivers that pushed it to 1.25K.
LOL they ARE the "contrarian indicator"!.... and you my friend have totally supported the case that,gold is at a bottom and will break $1.4 for the fourth AND FINAL time in the weeks ahead and will not look back until it hits at least $1.65K.
Thankyou
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