Thursday, November 20, 2008

5:53AM PST GOLD RISING SLUGGISHLY IN AN UP FLAG THAT RESOLVES LOWER


Dow is sinking, and gold will go with it, if for
no other reason than being sold to pay for
margin calls in equities, or just pure panic
selling to get cash.
Oil is in the 50's, may break into the 40's just
from lack of demand due to people driving less
because they're broke, rather than due to the
price of fuel.
My neighbor, the trucker, says business is very
lean except for a few military contracts to haul
heavy military things, and oil drilling equipment
to Wyoming where there is a big oil development.
But not enough work for all the truckers out there.
Trucks are getting repossessed in droves.