Gold vs…

The pullback is on in the gold sector.  We have very clear parameters for what would constitute another flash pullback and what would be a healthy correction. The former can last a day or two, and the latter several weeks.

Today another flash pullback is happening but unlike on previous occasions, I am not planning on buying it [edit] opinions, like markets, subject to change pending new info.  That has to do with the CoT, with a long-term channel line on HUI and with the fact that the very last of the ‘dumb’ money may have bought gold yesterday on the Brussels tragedy.

Beware the Angst Bid

I hope for a real correction to clean out the momos, casino patrons and substance abusers.  At such time as pullback or correction limits are hit and these bullish consolidations in gold vs. US and global stock markets remain intact, the next buy op would be in place.  Meanwhile, I shorted gold yesterday on the terror pump per the post linked above.  It seemed pretty obvious.

gld.spy

gld.hedj

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