Gold is giving you a gift, a second chance … Sell it now!

4/26/13

A couple of weeks ago I posted a note from my partner, one of the best macro traders I know, warning you that a “messy unwind” was in-store for gold.  He told you that 1522 in gold was the big breakdown level.  Indeed, that was the level that started the purge in the massive gold trade.

He’s telling me today, this unwind is far from over.  And he says gold is giving you the “gift of a lifetime!”

He says, “It’s a second chance … a gift, to sell it now!”  I couldn’t agree more.

Below is more of his analysis.  You should read this carefully …

“You can see in this chart below the ugly breakdown in gold.  And you can see the beautiful 61.8% retracement of the breakdown.  The sheep-herders (Wall Street, Bill Gross types, financial advisors, mindless financial journalists) have all been working overtime to keep the sheep (mom-and-pop, the average guy, the mindless institutional investor drones) content and optimistic, while riding the sinking gold ship.  And they’ve convinced plenty to gobble up more gold here.

With that, we get a text book technical pattern to sell, as you can see in the chart below.

 

Again, this is the gift.  If you have been sucked into this gold trade, get out, while you can.  The entire logic behind this gold/hyper-inflation hedge was flawed to begin with and has been proven dead wrong.  Five years into the global economic crisis, and trillions of dollars worth of emergency policies extended (from all global central banks) and yet we still teeter on the edge of a deflationary spiral.  Why?  Because you can’t print your way to demand in a massive global debt crisis.  Without demand, there’s no jobs.  Without jobs, there’s no wage inflation.  Without wage inflation, there’s no credit demand.  No credit demand, no inflation.  No inflation = Don’t get stuck with gold.”

Bingo.

So why are you holding the bag (of gold), with a massive premium that has been priced-in for a scenario that is proven to be flawed?

Believe me:  My friends, some of the smartest hedge fund traders in the business, are laying into this trade (i.e. adding to shorts).  Don’t be on the wrong side.

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Will Meade

Editor of the Billionaires Portfolio

www.billionairesportfolio.com

wmeade@purealpharesearch.com