Regular viewers of this blog know that a seasonal "sucker flush" was predicted here months ago.
There is always a tendency to let the retail investors "buy high" in the first quarter...during the retirement funding season...then flush them out after May...and into the summer.
Some sucker flushes are bigger than others...but the no-brainer flushes are the worst...
Remember when the suckers were flushed out of closed end income funds a few years ago...around May... Then the market was making 800 new lows everyday! Before the bottom was hit. And that was the start of the FED's current rate hike cycle...
So too the gold sucker flush might end when we hit 800 new lows on a daily basis...
As a general rule selling during a panic is a bad idea... Best not to catch a falling knife... For one thing...a panic is NEVER company specific news...which is the only reason to sell a stock.
Just let it hit the floor! And that's how I think this "catastrophe" will end....
IF YOU DIDN'T SELL IN MAY AND GO AWAY.... PROBABLY BEST TO JUST QUIT FOLLOWING THE MARKETS UNTIL LABOR DAY! AND AVOID THE POSSIBILITY OF AN UNFORTUNATE AND REGRETABLE PANIC...
This market will stabilize at some point...and likely gold and oil stocks will look better than ever...even if the Dow is at 8000.
