good chance gold and silver have bottomed

There is a good chance that Gold and Silver have put in a significant bottom or are very close to doing so.

Technicals are oversold, but we saw a strong reversal overnight.

Capitulation of bulls on the 16th (volume).

COT report shows commercials have covered shorts.

QE3 is very likely around the corner as US data deteriorates.

MSM articles coming out bearish on Gold.

I think woteva's target of below $1200 is extremely unlikely.

More in a blog post I wrote this morning here:


Good chance Gold and Silver have bottomed


I think there is a good chance that QE3 and the bounce out of this oversold condition will lead to the 4th increase in trend pitch and will ultimately lead to the blow off top/parabolic end to this bull market...