Just looking at the charts Much of QE was priced in (IMO), so we are hard-up against resistance and I dont believe there is enough buying power to break it this time round. I though to myself if it didnt break through today or early next week, we might see a drop - and I suspect many investors may be caught our by the market doing what nobody expected. You see I believe everyone who was looking for QE bought in June/August, so we might see all that money taking profits. I think the XJO will move above 4400 just might take longer than what you were expecting, and might need to touch 4300 or 4200 before moving higher. This is just my opinion, take it with a grain of salt. Cheers.
PS this may not effect the 'good' gold/silver stocks as much, because people will by selling general stocks mostly So ill be holding
I would tend to agree with this. I was seeing moves that to me did not make much sense except for people buying in anticipation of QE3. Interesting to see how this shakes out although I would much rather I did not need to consider the madness of the Feds in making buy/sell decisions.
Exactly, you dont need QE to buy Gold, its like buying a Ferrari as opposed to a good family wagon - you pay more when they both do basically the same thing and the Ferrari cant hold as many people. What i mean by this is - if you are buying gold to make money - you aren't really totally savvy about the function and need for Gold given the everyday environment
Havent looked but heard it closed above 4400.... watch for a false break, but hopefully its not PS wait just looked - nope not a break through, yet... could be pullback here
