C’mon atleast get my comments correct. I was not even participating or had ever heard of this blog when Gold was at $500. If you want to go back and research my comments you will see that I have been bearish mostly when the price has approached $1000. There have been other times as well, whenever the big players become heavy sellers, I usually get bearish, and get bullish when they are buyers.
One of the best trades I made this year was a long position I put on 7/13 at 881.50. I am out of that trade at this point.
Now we are in that same range, and the commercials have their largest short position in history so I am bearish again, pretty simple. I did use the word bubble last week in here for this market, but I believe that is the first time I have ever used that word, not 100% sure about that.
In my blog you will also not something that I do that virtually nobody in here does, admit when I am wrong. I have done it recently on a couple of things. If you want to attack my views, please just do it accurately.
I have said bubble this time, so if we do not make a top by Mid to the end of October, I would have to say I am wrong about this. It just seems hard for me to believe that even that big hitters like 4plex have the billions required to overcome all the large commercial players selling right here. That is what it will take to hold it up here. Only individuals are buying here so in the past that has been a reciple for large declines. If you just pull up a chart, and I will put one on my blog today, you can see that when small speculators have been heavily long, tops have occured in this market.
Gold bulls are telling people foreign countries are buying Gold and facts are facts, they are not. This would show in the COT report.
This is why I am currently bearish on this market.
