Posted:
#1
BGZ is still a hold.
General Markets busted through its "chop zone". I can see the market retesting its 8/9 lows. Possibility of oversold being even MORE sold so going long is not recommended unless you're already in an inverse etf of some sort. Gold and silver is now a sell for me. With dollar gaining strength and fund needing to raise cash to meet margin requirements, I see precious metal getting sold off like 2008 in the near term. Long term aspects are still intact, its just not worth holding since the inverse ETFs can make u a solid gain right now.
General Markets busted through its "chop zone". I can see the market retesting its 8/9 lows. Possibility of oversold being even MORE sold so going long is not recommended unless you're already in an inverse etf of some sort. Gold and silver is now a sell for me. With dollar gaining strength and fund needing to raise cash to meet margin requirements, I see precious metal getting sold off like 2008 in the near term. Long term aspects are still intact, its just not worth holding since the inverse ETFs can make u a solid gain right now.
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