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December 16, 2011 / Jeb

Year End Tax Loss Selling: Use Stink Bids To Purchase Your Favorite Mining Stocks

No doubt the patterns tell us that we are testing support levels and that technical damage has been inflicted on most stocks including the precious metals.  The weak hands inform that the golden bubble may have been broken and the warning inscription written on the entrance to hell “abandon all hope, yea who enter here” may be applicable.  We do not agree and may be considering this recent move a fake out and that we may witness a reversal sooner rather than later.

We are witnessing irrational prices characteristic of the end of the year tax loss selling.  This should be regarded as purchasing plums and holiday gifts.   The red that is seen on the screens may be the color of the week.  The current coloration in the past has been subject to volatile change.

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