Thursday, December 4, 2008

8:40AM PST A CLOSER LOOK AT THE SPIKE UP AND PULL BACK


At 8:28 am pst 1,500 contracts bought up everything
gold from 780 to 790, followed in the next minute by
1,670 contracts that were lower than 790. So some
were buys and some were sells. From there on gold
dropped lower to 778 on lower volumes.
Could have been a panicked short covering his shorts.
It would have had to be a market order to buy to grab
such a range of prices.