Tuesday, November 25, 2008

4:45AM PST TUESDAY OVERNIGHT GOLD TRADING


I was all prepared to start trading gold at night
because many of the good moves to the upside
have occurred at, or just after midnite (the vertical
black dotted line in the middle of the chart).
But what happens last night? Gold peaks just
after midnight and falls $16. There are only two
things about gold that are for certain. One, gold
will be much higher in the future and, two, you
can only trade gold in the very short term, and then
it's a huge gamble for the inexperienced newbie to this
game. Hell, it's torture on those of us who think we have
experience. Remember the old saying about dope dealers
and gold traders. There are only two kinds of both:
Those who have lost (or gone to jail) and those who are
about to.