This post was recently published on ZYX Short Sell Change Alert.
After the Fed statement that gives no hint of QE3, gold and silver fell to their first support levels. When gold did not break $1625, and silver did not break $30. a massive short squeeze ensued. It is difficult to see how this short selling will be sustained in the absence of QE3.
What To Do Now?
Those in the position may stay short on GLD, HL, and maintain the arbitrage position between PAAS and SLW.
Those not in these positions may wait for a signal on the RTF to start a position.
