Thursday, July 17, 2014
GOLD SUDDENLY DOESN'T SUCK AGAIN: here's what you need to know
Gold bounces off the SMA(50), but then also retakes its short-term EMA.
So I guess it doesn't suck anymore?
Silver suddenly pops as well, because reasons? Fuck I dunno.
And GDXJ bounces off its Bollinger mean, prints a Bullish Abandoned Baby, and yadda yadda what the fuck ever.
I dunno, I guess you can just load up on junior miners again, because now someone's monkey-hammering gold and silver back up. I bot back my PG and RIO, we'll see how long it looks like a smart idea to keep them.
UPDATE: actually, I guess the PMs probably popped because of the Russians shooting down that Malaysian jetliner. It being a war crime and all.
So do we discount this upmove? Normally I'd say yeah.
But it might be different this time because someone has been trying to smack down gold and silver all week, and now stupid politics (which has no bearing on gold and silver demand but whatever) has intervened to screw up that dude's position. Sucks to go short gold and silver and then suddenly have politics generate new upward momentum against you.