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overtheedge
Member since May 2012
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Gold And Silver Suffer Major Technical Damage: Updated Charts

- Dan Dontrose - The Fundamental View

"I have a feeling there is more money to be made staying short near term before the metals reverse. In part this thinking is based on the large head and shoulder confirmation of the HUI that I pointed out the other night, the collapse of copper and platinum some 3 weeks ago and the sheer strength of today’s decline. "

In the last 40+ years I've seen it all.
People try to call the bottom and in the end buy on the way up.
Try to call a top and sell on the way down.
Use charts to back up their fool ideas. And wind up right about as often as calling heads or tails on a coin flip.
Correlation is not evidence of causation.

This is a buying opportunity for those who want to stock their pantry.

The bottom line is who is selling what and who is buying what. Kind of like a game of rock, paper, scissors. Somebody is gonna get smacked.

And you claim technicals?
http://silverdoctors.com/10-of-us-annual-silver-supply-just-vaporized/

This IS the real technical damage.

Now just who dumped the mass quantity of gold? Who had the physical and could afford the steep losses a sale this size would cause? Or was it just paper covers rock. I have an idea that ChIndia will come up with scissors.

Commented 4028 days ago

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Beginning of the headline :Only days after I issued important trading summaries for both gold and silver, both metals suffered significant selling pressure today to break major areas of longstanding support. As a result, both charts have been significantly bruised and both metals have undergone significant technical damage. For a review of important levels please review the post I made on Thursday, just one day before the massive Friday liquidation. Tonight I will update the charts for my readers to show how bad the t... Read More

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