Hi Guys, Like most people, I am shocked, surprised,...

Hi Guys,

Like most people, I am shocked, surprised, frustrated.........lot of fear....everything.

It is very hard to explain this whole irrational/aggressive selling.

Anyway.....my take is...

Gold has just penetrated the long long term downtrend since 2011-2012.
Last year it had 5-6 attempts, then failed......selloff.
Many got trapped, some might still be holding like me...some sold out...some are selling now.
Shorts are in full force to defend their grounds all over the gold miners sector.
Short funds  are thinking that gold has risen as much as it could on Geo-political tensions(which usually abates) and has no further room to run. They could be right or wrong.
Long funds are sitting on their hand and saving their ammunition, they will strike at the right time, when they are fully convinced that gold has well and truly broken out of this massive long term downtrend.
I kind of feel it is the final battle of the longs vs shorts for this downtrend. There will be many resistance in future, but this one is the mother of all.
I was told some time ago that this long term downtrend will not be an easy feat to overcome.
People who were convinced of the breakout last time are nervous this time.....like me.
I am surprised I haven't sold out yet and still holding my ground. I'll be honest I am very wary though.

But here is what I am gathering my strength.

The long funds who are invested have lot more to lose than me.....they will come to rescue their investment at some point.
They have endured enormous pain in the last few years.......waiting for their revenge.
This is why I have noticed they haven't been buying, neither providing any support.
I am pretty sure phones are ringing across the whole world gold fund managers.
This could be a massive bear trap........as it no way could be a bull trap.(Stocks are trading much much lower .......far lower than any of one could think). So me thinks this is a set up for the bears......which it looks like they are falling into the trap. By the way lots of shorts are sitting at a loss.......as the rise from 1245-1285 has been very swift and sudden.

OR

Once again the bulls lose this battle.....as they have in the last 5 years.
But no one always wins and no one always loses either.

Just my thoughts guys.........




All the best.

Have a great long weekend everyone.