Fear and Stubbornness

As this bull market matures, it is remarkable that patience with gold, despite outstanding fundamentals, always deteriorates with every down tick during paper-driven attacks. While the bull market evolves, it appears that human emotions are consistently stubborn. This stubbornness likely masks the subtle hints disclosed during the decline that suggest the downside force is weakening. The 07/01 lows was breached today on nearly 50% reduction in volume. This is a big discrepancy. Those “pushing on the string” during this attack know that what cannot break support with force will eventually reverse direction and attempt to break resistance with force. Expect fear, their only weapon against objectivity, to be pressed extremely hard as the connected shorts cover into weakness.

Paper Gold ETF (GLD):