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FOREX & FUTURES day & swing trader.
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  • Gold for Bears: Panic Crash Setup is here 5 comments
    Mar 13, 2011 10:02 AM

    I really don't have much time posting analisis on the web right now, but it is my dutty to warn about a possible crash in precious metals, the setup is very good. The wedge is so nasty, that we can witness a huge crash in price from a daily chart's perspective. On the montlhy it would be just an impulsive (first) wave down hitting on the support, pretty normal stuff.

    If the crash happens, we are going to do a monthly retest to the 1300 area, because it never starts a downtrend without a retest, so a lot of retail investors will be shaken out by this crash and later buy when the suckers rally reaches its top (the 'return to normal' phase of a bubble blow off)

    panic crash in silver

    panic crash in gold

    I am back to my projects, my consulting firm will be releasing a new internet website in july, a very interesting project, can't tell anything right now, it is a secret
     until we release.

    positions: short silver averaging at 36.19, wish me luck.

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Comments (5)
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  • T.Paine603
    , contributor
    Comments (3) | Send Message
    I'd rather lose 30% of my physical than 100% of my paper.
    13 Mar 2011, 10:31 AM Reply Like
  • leamsi 72485
    , contributor
    Comment (1) | Send Message
    would that mean a great buying opportunity to add on one's position or sell, sell, sell for physical holder?
    13 Mar 2011, 06:30 PM Reply Like
    , contributor
    Comments (664) | Send Message
    Author’s reply » quick update after sunday opening:
    I think I am 4 days early on this. but anyway, I don't see it going higher than 37.50.
    13 Mar 2011, 06:50 PM Reply Like
    , contributor
    Comments (664) | Send Message
    Author’s reply » the crash has started now. this week silver should close at 29.50
    15 Mar 2011, 08:37 PM Reply Like
    , contributor
    Comments (664) | Send Message
    Author’s reply » I probably will cancel the crash scenario. In a crash, we would have to be below 1350 already. The crash's finish date now extended into the end of april. I will give it 2 weeks more, but If there is no crash, we likely to have a downtrend into the end of the year.
    18 Mar 2011, 01:50 PM Reply Like
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