Thursday, October 9, 2008

6:05AM PDST GOLD QUIET ON THE OPENING


Gold volume is quite light on the opening. A little
sell off in the first two minutes then back and forth
in a tight range, but holding the bottom line of the
new uptrend channel.
Euro falling some after a decent rise from the low
hit in the last few days.
Dollar is off its highs at .8113 right now and going
sort of up and down in a sideways trend.
Bonds have formed a ledge from which they could, and should, fall,
as interest rates have to go up to correct this situation instead of
the idiotic rate cuts to prop up a totally bankrupt and fraudulent
system.
Oil is going sideways at 89 and has dropped to the same price area
we had last February...quite a chart...But it WILL go back up
with the hyper inflation that is bearing down on us from all this
"free" Guv'mint money they are throwing at this disaster "they"
created for us. I read more and more comments about how
Bernanke and Paulson should be arrested, along with Congress,
and of course, the Idiot in Chief.