This is my last day with my son Andy, his wife and two daughters. They go back to Minneapolis early Thursday morning. We are spending all our time with the family and I will not be offering any personal insight today – other than to say I believe we are very near the bottom.
I asked my friend Trader David R “Will the market hold $1550?” He replied, “No, the market is too long still.” Gold does have strong support above $1525. Check out the following chart.
I hope to add to my gold and silver positions before the week is over. You can be sure the Asians are thrilled with these prices. Idiots sell off their Comex contracts and the Asians and Russians buy physicals.