Dear Comrades In Golden Arms,
We live in market run by hedge funds like all other markets.
When momentum of gold appreciation slows the selling starts. When an uptrend line breaks, the slower computers come on with selling.
Fundamentally there is no change from the intact Western world economic downward spiral.
Technical damage has been done to gold which will work itself out. The reverse is that when the decline's momentum contracts then the shorts are covered and the computers turn bullish.
This is the drama you have seen a million times.
Gold is the only insurance that can be purchased that will carry us whole to the other side of this economic madness.
Gold is going to $1650 and beyond. Dig a hole and pull a rock over top once again. Look out once a day until you see the downside momentum decelerate or a major bullish formation starting.
Stay the course.
Respectfully,
Jim
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