GOLD! Meltdown? Blast Off? Non-Event? The question on many investors in the metals markets this weekend points towards the SWISS REFERENDUM. And as far as holding your current positions or selling them, you now have 1/2 day to decide whether you should HOLD or you should SELL. Let me just say, I’ve laid out the BULLISH case here for the past 3 weeks and so far, we have seen matters play out exactly as I thought it would. However, The event Sunday can cause a knee-jerk reaction and so I want to mention that there is no shame in selling if one is unsure or nervous. Todays 1/2 day of trading is your last chance to do so. I am here to again review why “Nothing has changed” so far, because I did get a good number of emails asking me about that.
GOLD – Yes it has sold off again. In many prior reports I mentioned that Fridays have been pretty predictable that way lately, so that you’d be prepared. Take a look, does it look absolutely broken to you?
That $1179 has been an important number,on Nov 18 I shared this chart below on FED day to prepare us for that…