We are getting a little stretched after the nice bounce we had off the 1320 lows. We could still end up test 1525 before getting a retracement but I think the odds are favoring that we will be revisiting these levels or be a little lower in a couple weeks.
I'm not saying this to get anyone to SELL. I'm saying this so you are psychologically prepared in the event that post fed, we have a sell off that lasts a week or so. In the long run, it wont really matter. It might not even be all that deep. However, expectations that we go "to the moon" without a little bit of work 1st are unrealistic. Physical buyers *might* even benefit from a little patience because premiums will be cut as well. Eventually, gold/silver that is mined will make it's way back into the system and those premiums will find a new equilibrium.
We are constantly being bombarded with stories about the COMEX, JPM's vault and overwhelming physical demand. If you have a position already, be patient. Continue to stack and scale. DO NOT panic in.
I'm not saying this to get anyone to SELL. I'm saying this so you are psychologically prepared in the event that post fed, we have a sell off that lasts a week or so. In the long run, it wont really matter. It might not even be all that deep. However, expectations that we go "to the moon" without a little bit of work 1st are unrealistic. Physical buyers *might* even benefit from a little patience because premiums will be cut as well. Eventually, gold/silver that is mined will make it's way back into the system and those premiums will find a new equilibrium.
We are constantly being bombarded with stories about the COMEX, JPM's vault and overwhelming physical demand. If you have a position already, be patient. Continue to stack and scale. DO NOT panic in.