Im bearish everything short term, including gold. Bullish long term though.
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be careful with this, gold is in a long term bull market, i took a bunch of profits today on my short trades, still have some riding though.
Trade closed: target reached:
cha-ching
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dont get too greedy guys
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great opportunity to buy metals coming up.... but not yet unless you are aquiring physical i would buy along recent bottoms
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I am bullish PMs again. Yea, treasury yields turned up today... what does this mean for metals ? ... the common knowledge is rising yields=bad for metals , in general yes, short term,... but then why did metals skyrocket in 1980 with fast rising yields ? Im sure even most economists cannot answer this so i will default to the ultimate truth... the charts. Im going long gold and silver here again.
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***Please dont comment that i was wrong if i already closed the trade at a profit. To those of you who dont already know, most of my trades ar short term duration unless stated otherwise . ***