daytrading sep 13 pre-market, page-3

The whole US smashing gold is starting to get really old really quickly and now looks to be blatantly obviously.

All a little to coincidental for my liking.

'Computer glitch' reports record low jobless claims only to turn out to be a backlog, yet at the same time another phantom trade is purposely sold into support to trip the circuit breakers on gold.

Market is clearly pricing in a much larger taper and no Syria action.

When the Fed doesn't taper next week as I suspect ?

Definitely not going to be dumping my Au holdings portfolio wide. Grossly oversold here, same with Ag. Selective sell down for me.

Think the hardest hit today will be those high cost producers and cash/debt strapped. SLR and BDR probably going to feel it most.

Cashed up juniors with 2-5 years till production should ride this out as most of them are already ridiculously cheap with no upside priced in. I can't see them getting punished further as with no upside yet built in, and no bottom line revenues to take a hit, I think they will hold up.

As I said in the gold thread last night, Chinese have 100 year views on PM's, not day to day. You don't buy assets when POG is $1,900, you buy on lows and develop through the recovery.