Tuesday, November 6, 2012

The Gold Shorts are Panicking

“It would not surprise me to see a melt-up as the day progresses after-hours or overnight if gold clears $1,720 and does not fall back. Gold could head quite rapidly to $1,740. The strange thing about this is the dollar has barely budged in all of this, so we have to keep an eye on the integrity of this move.

The trading is all about momentum and panicked short covering right now...."

- Trade Dan Norcini via a recent King World News interview, read the full interview here: