Gold price, page-9129

BDR can't go up until the sellers are done.
There are too many sellers right now, 3:1 ratio.
Someone is constantly selling since last week. When that happens all potential buyers step back. Everyone loves to buy a bargain. Who knows the motive of the seller. There could be countless reasons.

1 Anticipating more fall in the POG( Quite possible)
2 Taking profit( I doubt that, should have taken long time ago)
3 Forced Sell
4 Stop Loss Orders hit
5 Money rotation ( As the money never leaves the market, just gets rotated from one stock to another or one sector to another sector)
6 Had enough( Very possible), It seems we all had enough.

Not many bulls left, lot of them have capitulated. The hot money which moved into the sector has almost departed. Only the long time hard core bulls are left.
As good as it was the first 6-7 months of this year, the rest of the year has pretty much turned into a nightmare for us. After a great party the hangover has been absolutely devastating. Some people must have played their cards well. Another 3 weeks to finish the year.( not counting the last week of DEC)
The only good thing I can think is all those shares are bought, people are constantly lining up at the bid side. Another thing I have noticed is since June every time BDR has seen 33c, it turns around from there.
We will find out soon what happens this time as every time it is different. Another interesting one is two months ago, all chartists, elliot wave technicians(The WAVE guys, they have thousands of never ending waves.) and pundits were predicting gold to break 1400 and higher, they all had very high conviction. Now everywhere I see they are saying Gold has broken to the downside, bearish patterns, 1000 dollars is on card, lower lows. Scares the hell out of anyone. Its too late for me to sell now. I will have to hold tight and sit tight.
It would be nice if we all knew what was coming.


Anyway, just feel like the selling in BDR is a bit too overdone. May be I am bias.

All the best guys, you need it.