Is that a bear flag forming or has Huey decided to turn up for real ABOVE the support that is compelling for reasons noted in NFTRH? Today, I am sitting on my hands in that comforting place where I know I would like to add gold miners, but can afford to wait out the answer to the above question. That is because of the strategy that I have used for years now, which keeps me well in the game even when I sense a correction coming.I am human and thus I do get thoughts like 'dohhh, you saw it coming... why didn't you dump everything?' Days like today are the answer. Because we can never really pick the tops or bottoms and I have found that liberal profit taking, while maintaining holds on positions that I am pretty sure are going to be drawn down in the short term, is a winning strategy. I honestly care not whether that is a bear flag. I will welcome a decline to HUI 250 as I will welcome the next leg up.
Separately, I want to share this email from a subscriber and blog reader. He is not just those things, he is a very substantial market person. Correspondence like this remains the 'free bonus' I get for having a newsletter and for operating the blog.
Gary as a regular bullion trader, I am always aware of the price manipulation; it’s been going on for years and you factor it into your trading and spend as little time as possible being stressed or ranting about it. However, lately I am quite convinced that Ben the Butcher has taken his thumb off the scale. Why, you ask…Ben is desperate and he has to inflate before pernicious deflation takes hold and I believe he came to the conclusion recently (since nothing else has worked) that if he lets the hard money (gold) run it just may provoke enough fear in the masses that all their postponed purchases just may cost more next month. If it provokes these inflationary “fears” he also gets the USD going over the side and he will feel doubly blessed. Meanwhile he gets the market to do all the heavy lifting and I assure you it will as the bullion banks and those they have lent to get squeezed as the central banks either want their gold back or raise their lease rates. Best, J
Thank you for your insights as always J, do you mind if I post this on the blog?
Sure, just don't tell them about my aluminum foil headgear.
J, it is no wonder you have remained so rational sounding throughout all of this. Aluminum does not work. You need the real deal, TIN!
Aha...just read your notes and I see that you do favor tin...well I shall try it and report back.
