MOM AND POP MOMO CROWD STILL NOT SELLING GOLD AND SILVER
Our algorithms show that mom and pop momo crowd who were mainly responsible for the last run up in gold and silver are not selling during this swoon. As we reported this morning, our algorithms show aggressive selling by institutions in Asia. In the U.S. market, selling by Smart Money is dwarfing buying by mom and pop momo crowd. In our parlance, Smart Money means collective actions of ultra-sophisticated investors who know more, who know early, and who have more analysis power at their disposal than most of us. From a traditional technical analysis point of view, in the very short-term, gold and