Do your best to enjoy your 3 day weekend.
I'm going into a coma.
Friday, October 10, 2008
THE BIG PICTURE SO FAR...AFTER THE CARNAGE
The black down flag is drawn off the all time high
for this Dec contract at $1048.
This black down flag resolves UP to higher highs for gold
The white Up Flag designated by the recent trading up
from the BIG LOW at 73980 resolves DOWN.
Notice that today's trading took the price down to near
the lower boundary of the white up flag.
The market is VERY OVERSOLD, but due to the
financial crisis in all markets, that doesn't necessarily
mean much, as today's selling was precipitated by continual
Guv'mint manipulation which created panic selling when
the market didn't rebound normally.
The GOLD BULL MARKET is still intact.
We just have to reorganize and see what we have left
and how to properly use it.
If you have CASH GOLD....
for goodness sake, DON'T SELL IT!
When the smoke clears from today, people will be fighting
to get some gold, so if you have any cash, I would be
BUYING GOLD right here and now, if you can find it.
KATHY LUCATERO at MONEX has some that you can
buy on the phone for 25% of the purchase value.
10:52AM PDST THIS MARKET IS A COMPLETE DISASTER
No time to comment or post charts right now.
I will have to wait until later this evening to sort this out.
I wish you all well, but this situation is now OUT OF CONTROL!
I need some time to see what's left after the smoke clears,
and I also need to go to town after 2pm to pick up my truck,
so I may not be able to post until tomorrow, Sat, as this destruction
will continue into the evening after the markets close.
Once again, don't make any drastic decisions until we see what
has really happened as the Guv'mint will be interferring to the MAX
as this society comes to a complete halt.
I will have to wait until later this evening to sort this out.
I wish you all well, but this situation is now OUT OF CONTROL!
I need some time to see what's left after the smoke clears,
and I also need to go to town after 2pm to pick up my truck,
so I may not be able to post until tomorrow, Sat, as this destruction
will continue into the evening after the markets close.
Once again, don't make any drastic decisions until we see what
has really happened as the Guv'mint will be interferring to the MAX
as this society comes to a complete halt.
7:37AM PDST GOLD STRUGGLES BACK AS BUSH SPEAKS
Gold got a 395 contract boost during Bush's talk
and has been creeping up since. The gold haters
are finding plenty of buyers no matter how hard
they hit gold
6:50AM PDST GOLD GETS A THRASHING, BUT COMES BACK
The quick sell off was probably an attack to scare
longs to not hang on for higher prices.
Now gold should rally back and even go higher
after people start to realize what is going on.
Volatility is just crazy as you can see.
That was a $26 punch in gold's face. It's like
a fighter getting knocked down early in the fight
only to get back up and eventually win the match.
6:45AM PDST GOLD GETS SEVERELY BASHED AFTER ATTEMPTING TO BREAK HIGHER,
The NY gold haters play for keeps folks.
This is a money war, and they want all of it.
6:42AM PDST GOLD BREAKS OUT THEN RETRACES, GOING HIGHER?
Big battle at 923 to keep gold from going higher
than that...they will lose.
6:26AM PDST GOLD SHOULD WALK UP THE BLUE TRENDLINE AND BREAK OUT OF THE DOWN FLAG TO HIGHER PRICES
Dollar back up just below its high, Euro falling,
Oil falls to 78.55 a barrel.
Bonds still dropping, Dow down to a low of 8165 earlier
Things are simply nuts.
And most commentators don't have the slightest clue
what is really happening.
Then there are the Spinmeisters...impotent pricks.
5:58AM PDST GOLD MOVES UP TO 2ND 75% FIB LINE AND THE TOP LINE OF THE DOWN FLAG
Some pull back here, and gold should keep going up
Gold could stay contained during the day session,
and then explode after the close like yesterday as
much sentiment is related to how stocks close for
the day market
5:22AM PDST GOLD DRIVEN DOWN TO THE BOTTOM OF THE DOWN FLAG
The NY gold haters have bashed gold down to
where first support is showing up at a technical
buy in area. Gold has also retraced to the 61.8%
fib line. Buying should begin soon, as I can't see
gold collapsing for any reason.
Read Sinclair's current posting as his master
technician Kenny Adams is for sure telling him
exactly what gold is going to do. The guy is unbelievably
accurate.
4:47AM PDST GOLD IS WALKING UP THE BLUE TRENDLINE
Dollar is up at new recent highs, Euro is going down
Bonds are going down, Oil is down to prices we
saw last October 2007.
Nothing makes a lot of sense and can change on
a dime.
Gold is the only constant (cash gold) and even
the paper gold market can be manipulated as we
experience every day.
I just pray that the futures market doesn't go
bankrupt...It shouldn't, because everything is
marked to market every day and positions all evened out.
Paper contracts SHOULD match physicals available for delivery.
We shall see very soon what is real and what is not.
4:25AM PDST
I don't understand why gold has been trading
sideways on light volume at this level for so long,
but the shit is really going to start flying in the next
hour, so put on your haz mat suits and goggles,
cause it's going to get messy.
4:06AM PDST EARLY GOLD
Very light volumes, which is surprising to me.
I would have thought that gold would be rising
dramatically given all the panic talk all night.
It will be interesting to see if they are able to
suppress gold this morning. The shorts should
be terrified at this point.
Thursday, October 9, 2008
2:02PM PDST GOLD PAUSING HERE AFTER THE DOW CLOSE AND JUST BEFORE THE COMEX CLOSE
Notice that at this level, gold is making higher
lows, even though there is a potential H&S pattern
which resolves down.
The stock market has CRASHED and will continue
to fall. Bonds are falling, as they should.
Why the Euro sold off during the gold spike is not
clear to me, unless people are just fleeing all paper
currencies into gold.
The 3PM re-open of Comex gold in one hour will
tell us much. If it spikes higher, it going to explode
overnight until it gets near $1000, which is not that
big an obstacle now, having been crossed substantially
already...It's not foreign territory anymore...
Above it is...and gold will test all round numbers higher
than the old high at $1048
1:02 PM PDST THIS IS A NECESSARY LITTLE PULL BACK BEFORE GOLD MOVES HIGHER
Gold shouldn't pull back much from here.
This is just the greedy profit takers who don't
know how high gold is going. If they wait too
long to buy back in, they will have sold for nothing
and then be out of the market and will probably
buy in just before the next pull back and get burned.
12:30PM PDST THIS IS IT! GOLD IS GOING TO SPIKE BIG TIME
I just called Kathy Lucatero at Monex,
she has no silver, and Gold Eagles and Buffalos
are out.
They have Maple Leafs, and Vienna Philharmonics
If you buy gold, DON'T BE PICKY!
GOLD IS GOLD! It will all increase in value
and be tradeable if it is in known quantities of
coins or bullion with the proper markings or
sealed in the correct manner.
12:18PM PDST THE BREAKOUT TO THE UPSIDE BEGINS HERE
The news just keeps getting worse by the minute.
Gold is about to take over.
Grab all you can get at almost any price as
you will be rewarded abundantly as it explodes
in price.
And remember, you AREN'T getting rich,
as phone calls will soon cost $10,000 for a local call.
12:14PM PDST GOLD RALLIES WELL AS STOCK MARKET FALLS FURTHER
Gold has only rallied to the pink downtrend line
in this chart, but is now penetrating that line
and should be moving much higher due to the
failure of stocks to rally.
The economy is finished no matter what is done
at this point, even if martial law is declared
which will make survival even more painful,
so start preparing your minds to be OUTLAWS
if you want to survive.
10:35AM PDST GOLD SELLS OFF A BIT ON THE CLOSE INCONSEQUENTIAL VOLUME
Gold drops to the intermediate trendline (blue)
and holds, then rallies some after the close.
Euro is down after its recent rally of the low and
is still in its uptrend channel.
Dollar got a bounce today, but nothing significant.
Stocks gapped up on the open only to fall even lower.
Bonds fell off their "ledge" and should go lower as
people are no longer running to bonds for safety.
Gold will be the next choice for safety...or bullets.
10:00AM PDST GOLD BREAKS BELOW THE BOTTOM TRENDLINE, BUT RALLIES BACK
Gold volumes today are very light. Highest
volume hour was 7am to 8am pdst at 11K contracts up volume
9:48AM PDST
Lines have been re-drawn to include the new low
at 88290 for the intermediate uptrend channel.
The pink down channel/flag resolves up. This
recent down move works out to be a period
where gold can re-organize the longs and shorts to
move higher on its way to much higher highs as
all this new paper fiat crap money circulates into
the system and drives all prices up astronomically
into a deadly hyper-inflation which will collapse the
World Economy.
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.
5:05AM PDST A CLOSE LOOK BEFORE THE OPEN
The pink down flag resolves UP,
the little white up flag resolves DOWN...
ATTENTION READERS
Goldtrader will be away at the hospital this morning for an undetermined period.
My last posts will be just after 6:00am pdst to allow travel time to my appointment.
As soon as I am able to get back online, I will post.
Good luck and get prepared for the disaster headed towards you at high speed.
No time to waste now...get your supplies, AND WATER, in and do it NOW!
My last posts will be just after 6:00am pdst to allow travel time to my appointment.
As soon as I am able to get back online, I will post.
Good luck and get prepared for the disaster headed towards you at high speed.
No time to waste now...get your supplies, AND WATER, in and do it NOW!
4:58AM PDST FIVE A.M. GOLD
It would be nice to see gold take off on the opening,
but I think the price manipulators are going to try
to hit it hard, just for good measure, to scare the shit
out of us one last time.
4:10AM PDST THURS EARLY GOLD
Gold appears to be being manipulated down
against all logic, as the Euro rose most of the
over night and is only now dropping some.
The dollar has been slipping lower with the
occasional little blip up.
The "powers" have used up all their "bullets"
and are shooting blanks.
Gold SHOULD explode any time now.
All it takes is for one more shoe to drop and a
series of collapses will start taking place.
Wednesday, October 8, 2008
9:07PM PDST GOLD FALLS TO A LOWER 75% FIB AND SEEMS TO BE RALLYING
This is about the time of night last night when
gold did a huge run up as foreign markets
started to become active.
8:44PM PDST GOLD FALLS BELOW THE UP TREND CHANNEL
Once again today, the Euro is rising, but gold
is going down...total MANIPULATION of the
gold market to serve the Dollar and equity
markets.
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