February 29, 2012

First a clarification, the gold position taken this morning is a short position.  In other words, the objective is to benefit from gold going down.

Those interested in gold and silver may benefit from reading our morning post from today.  Subscribers to ZYX Buy Change Alert and ZYX Short Sell Change Alert receive similar morning posts most mornings before the market opens.  Reproduced below is the post from today that was published at 9:27 am.

Longer-term refinancing operation (LTRO) is a big hit again. 800 European banks borrowed from ECB €529.5bn at 1% for three years.  This is the second phase of LTRO.