The gold prognosticators with their constant bullish rhetoric should hold their heads in shame.
I've been jumping up and for months on end that gold shares were signalling no new highs in gold just yet, And yet the likes of JS, Morris Hubbartt, Stewart Thompson, King World News have now led potentially thousands of gold stock investors to massive losses and yet I doubt you will be seeing one single appology from any of them.
As of today I am more bullsih than I was last week. Are we at a bottom? NO unfortunately not. Gold stocks are making new intermediate lows. I am sniffing but I am not ready to pile back just yet.
I warned last year and only recently that gold could hit $1200. That is still very much the case. I suspect we get a tradable bounce very soon. Its not THE botttom. That lies ahead. And when it arrives gold and gold socks will be hated.
In regard the broader market. You know you are in a bubble and nearing a major long term to when you begin seeing articles in the mainstream media about 16 year day traders making money.
I suspec it will play out as I have said all along. Gold stocks get sucked down into the vaccumm of the broader market collapse first and then explode.
No gold position but sniffing at select stocks and will add if I see clear signs of a bottom, otherwise still very cautious. Cheers
