Robert Vaughn10
Regular
308 messages
joined Feb 2019
A very good day. If this trend holds, things are looking encouraging.
Following a brutal correction that felt like a freefall into an abyss, we’ve seen a reversal. Granted, it hasn't reclaimed all lost ground, but it was a solid $20 move from today's lows. The faster and more frequent these bounces become following heavy sell-offs, the higher the probability of another major rally. I want to see more days where we gain at least $20, and even more days where corrections are wiped out almost immediately. That would signal the bulls are finally seizing control. But let's be clear: these moves need to happen more often, and they need to stay at that $20 threshold.
One more thing... if gold and silver weren't significant, they wouldn't be under such intense pressure right now as they attempt to defend the dollar following the latest news on quantitative easing. This morning, it felt as though the market had completely lost its compass, driven purely by panic. And when people start acting out of fear, they tend to make poor decisions and miscalculate the path ahead.