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overtheedge
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Contrary Gold Futures 3 - Adam Hamilton - Zealllc

Initially I tended to think that this current PM volatility event was triggered by some short-covering that got away from them. But upon further reflection, I remembered that gold and its little step-sister, silver, had been trading sideways for ... well in the world of day-traders, forever.

Awful hard to make money in a sideways market; be you the trader or the intermediary who makes a few shekels on every trade just because you are the middle-man aka money-changer from biblical days.

I just sweep the streets and put it in the bin. Where does the evidence lead you?

Commented 4177 days ago

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Beginning of the headline :Futures speculators are extraordinarily bearish on gold today.Their short positions on it are extreme and unprecedented, the highest seen by far in gold's entire dozen-year secular bull.They expect downside gold momentum to persist indefinitely.But despite their reputation for sophistication, futures speculators are notorious for betting wrong at extremes.Their bearishness is a very bullish contrarian omen for gold.Given gold's horrendous 2013 so far, you really can't blame futures speculators f... Read More

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