"Nothing will unnerve the paper gold shorts more quickly and do more to undercut their confidence than to strip them of the real metal and force them to come up with more hard gold bullion to make good on deliveries. "Stand and Deliver or Go Home" should be the rallying cry of the gold longs to the paper gold shorts." --Trader Dan Norcini
Dear Friends,
Simply stated, the drop at this time will in retrospect be seen as the foundation for gold trading not at $1650 but rather at $5000.
Armstrong was right and wrong. He looked for a reaction in gold at a time it would not happen, to a price that simply did not and will not occur.
He is absolutely right that as June approaches this type of action is the foundational proof of a major move in gold coming out of June and continuing with the normal drama into 2015.
Relax!
Jim Sinclair's MineSet
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