And when it's back to 1600+ you will be thinking bull again like how most people will, beacause it will break 1605. Annnnnnnnd Bam! everyone goes bull (not everyone) and the the market continues bearish. You can call them pump fakes, but they have to happen. The longer it takes for a correction to build (pump fakes) the fast and more violent it will return there. Everything is moving nicely now and it would be better to correct this week rather than later on.
DislikedI am just not getting this. Ben said yesterday that they are willing to fire some more cannons if the data points warrant and defended his stance on QE. Gold held it's ground yesterday after the statement and the press conference. Now today, brutal data comes out for the US and gold is being pummeled??? I am not saying that gold hasn't been in a downtrend since Sept. '11 but with the recent price action and small bull trend from 1550's to 1630's, I am thinking this is a fake move down, a bit of a bear trap... just sayin.Ignored