I am a sounding board for the Gold Community. Our troops are getting too
uptight about their share positions for our own good. Traders should place
close stop loss orders covering a portion of their position so if a
reaction is established prematurely, the trader will have funds set aside
for repositioning.
I see no end to this bull phase but rather the construction of the right
shoulder of a reverse Head & Shoulder if it occurs. In time, that will
result in a bullish pattern and significantly higher prices.
Lightly sell into strength in and through next week as that bullish pattern
is likely. In no way do I see an end to the positive market in gold. All I
see are too many nervous people not really in gold as insurance trying to
beat each other to the head of the line. I chart the trend of all my
incoming emails.
Again, my suggestion is to place close stop loss orders and sell lightly
into strength should that develop this week and next. Should this dip turn
into a reaction consuming time, it will be shallow in price as compared to
the previous events.
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