Courtesy of Read the Ticker.
Seriously if you have a billion dollar gold position, why would you sell it a 2.00am on a Sunday morning when the markets only have $100,000 dollar value bids? Well no human would do that, but a govt would.
However the fix for lower prices is lower prices. The massive open interest built up in Gold and Silver required a punch down to allow position to be un wound, so watch out for that to happen, and that will most likey mean a strong bouch is due.
FYI, so why isnt silver crashing just as hard as gold? Simply all time high open interest and there massive positions to unwind. Every silver cent down is being hit with short covering. Banks like Citi and JPM morgan have to unwind massive silver shorts, to do this they need price falling to show a profit for their efforts.
Price is on the 1st 1×1 Blue Gann Angle, second resistance.
The $100 on the GLD is a very big magnet, one level to watch.
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Investing Quote…
..”Every movement in the market is the result of a natural law and of a Cause which exists long before the Effect takes place and can be determined years in advance. The future is but a repetition of the past, as the Bible plainly states”..
William D Gann
..“By failing to prepare, you are preparing to fail”..
Benjamin Franklin
The minute you get away from the fundamentals – whether it’s proper technique, work ethic, or mental preparation – the bottom can fall out of your game.
Basketball Legend Michael Jordan.
..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell”..
John Templeton
Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.
Warren Buffett
