Rondog
You may very well be right, but your view is the consensus view; this is precisely why I think it will be proven wrong. There are just too many that have jumped on board that ship. I think it will be shown to be a "Ship of Fools"...in time.
Even with the bear raid in gold on Friday night, the HUI & the XAU didn't really buy into it.
Yes. SLR is in a technically overbought condition (short term). That can be relieved by time, price or (more usually) a combination of both.
The sell-off was swift as the price approached the all-time high. This is trader activity, not investor activity. The fundamentals are sound. The gold bull is alive and well. A prudent "trader" might take some money off the table, but that just provides opportunity. I reiterate, a double-top is more likely if there is a "false break" of the previous high and then a reversal. The fact that the traders "puked" before it got there is very encouraging.
RondogYou may very well be right, but your view is the consensus...
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