This morning we alerted you  GOLD BREAKS MOMO CROWD’S LINE IN THE SAND when gold was much higher.  The momo crowd tried by aggressive buying to hold the line at $1683, but to no avail.

The momo crowd has long held that $1672 was the firewall just in case the line in the sand was temporarily broken. Well, $1672 did not hold either. Gold traded close to $1660 and has now recovered to $1669 as of this writing.

Continue to add  to profits by holding our silver short trade but adding to the quantity at this time is not advisable for two reasons.

First, silver is very oversold and a bounce can occur any time. Second, we see no selling by the Smart Money.

What to do now?

Consider taking profits on a 10% tranche in SLV in the zone of $30.15-30.65. SLV has traded as low as $30.35 and is at $30.55 as of this writing. Futures equivalent is $31.60.

This post was just published on ZYX Short Sell Change Alert.
Will gold rise to $3000, $4000, $5000, or $10,000.
Will gold  fall to $1400, $1200 or under $1000?
 Irrespective of your opinion, most investors agree that QE3 has important implications. There are several myths about QE3 that the crowd  has accepted without digging below the surface and understanding the true nature of QE3.
Every astute investor ought to take time to understand  the true nature of QE3.  Due to the importance of this topic, we are making available  FREE OF CHARGE a  48 minute  online seminar titled Gold & Silver Post QE3.
YES, I WANT TO ATTEND THIS SEMINAR FREE OF CHARGE. CLICK HERE OR SEND AN EMAIL TO GoldQE3@TheAroraReport.com

 

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