Did Zeal have any bets on gold going down since it hit $720 in May or did they just tell subscribers to wait?
Here are some snippets from the Zeal Intelligence newsletter for beginning of month May 2006.
Sooner or later a correction in gold is inevitable. With its 200dma now near $505, quite a selloff is certainly possible.
… Such extremes are simply not sustainable.
… Most speculators are rightfully mercenaries, they have no loyalty to any bull but just to any predominant tactical trend of the moment. So if commodities in general start correcting, all the recent speculative interest will multiply downside volatility too. We may be in for sharp corrections in major commodities in the months ahead.
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