Loading ...Another “Guru” Waiting for Pullback
“let´s be patient and wait for the inevitable pullback in gold, silver and the miners.”
I wonder if this means guys like Florian are uninvested or underinvested? I would certainly add to my positions if we had the 38% pullback he feels is “inevitable” but I think a more likely scenario is a protracted consolidation after this initial hard advance is over, allowing the moving averages to catch up. That would apply the most pain to those who aren’t already invested and will tee up panic buying from them later down the road.
My take is we are at the cusp of a buyers panic. We may possibly scale and breach the Matterhorn this week (gold 1308) and if we can close for 2 days above it….hold on
“but I think a more likely scenario is a protracted consolidation after this initial hard advance is over, allowing the moving averages to catch up”
This is certainly what it feels like is happening and how I am playing it.
Right, “after this initial hard advance is over” nut the question is WHEN is this initial hard advance over? All the sold out bulls are getting ulcers watching this from the sidelines
Their patience must be wearing very thin since end Feb! When the stars and moon are finally aligned to buy I will take that as a contrarian signal to take money off the table!