Friday, October 31, 2008
Gold usually retest the low on a quick dip like
this one, and may even go a bit lower very quickly
to pick up some bottom feeder orders before it rallies.
Gold is coiling, building energy to move higher.
It is pulling back within the blue down flag.
I could pull back to the white bold uptrend lower
line of the uptrend channel which would be a 61.8%
retracement which it is doing right now. 75% is at 73490
Gold should now pull back looking for support
on the top blue uptrend line before moving higher.
Euro is not confirming this move by moving higher.
Once again, a very weird market today. No
real follow through strength in gold, but no
major pullback on the open rally, which is good.
However, the longer gold fiddles around at any level,
this more likely a sell off becomes.
Euro isn't very strong, Dollar is staying up for now.
Thursday, October 30, 2008
Truly bizarre markets today. This is probably
the point just before everything goes completely
nuts in a few days.
Either gold is going to rally up out of the little
white up flag which is at the low side of the
larger WHITE down flag, which should resolve up,
or it will collapse and fall further. Right now it is
playing with breaking above the blue down flag
upper line, but volume is weak in all directions today.
Dollar just keeps gradually rising. Stocks flopping around
Bonds holding near their lows in the 114s, Oil falling
some from its highs.
All in all a very tiring market to watch for lack of any
volatility. No more news today that should shake the
markets and what news there was came in with a whimper.
6am and 7am pdst hourly volumes were both in the 12K contract
range, which averages out to 200 contracts/minute which is
moderate volume, and all to the down side.
7:05AM PDST GOLD FALLS TO YESTERDAY'S CLOSE AND LOWER...LINES REDRAWN, EURO, OIL FALLING DOLLAR RISING
No strong volume to the upside, gold violates
the green intermediate uptrend line and falls
below yesterday's close price. Simply weird
that buyers aren't jumping in here, indicative
of strong manipulation
Wednesday, October 29, 2008
Your guess about where gold will go overnight
is as good as mine. These markets are so
completely manipulated that it is impossible to
make any kind of educated prediction for any
but the shortest time frame moves which are
impossible to communicate to you in time for
you to take advantage of them.
All I can do is show you how I trade on the minute
to minute moves in gold as they trade in the constant
75% up and down moves they make all day, every day.
Read Bob Chapman's article to see what the Illuminati
has in store for all these markets, as they will drive stocks
up briefly and drive commodities down so they can take
their equity profits and buy gold dirt cheap,
then they will let the markets go where they should naturally.
Gold UP, and all paper assets DOWN.
6:30PM PDST GOLD PULLS BACK TO THE TOP LINE OF THE OLD WHITE DOWN FLAG FOR SUPPORT, THEN RALLIES WELL MORE THAN 75%
Had a much needed nap.
Gold pulled back to the down flag from which it
broke out. The top of a down flag should become
support according to tech analysis. And it did here
so far. Very strong action up in gold today, but BE CAREFUL
and don't get cocky. Read Dan Norcini's comments today,
as we will meet strong resistance all the way up because
the higher gold goes, the closer the neocon criminals come
to the "hanging tree"!
Dow is an utter comedy and those who think it is even close
to a bottom are simply brain dead!
The same for those who think gold is just a commodity and
won't skyrocket when the economic wind changes direction
and turns into a hurricane of economic collapse.
9:55AM PDST GOLD MAY FALL TO TOP LINE OF THE PREVIOUS DOWN FLAG (white) OR TO THE GREEN UP TREND LINE
Dollar is falling back near the day's low of .85125
Euro has rallied back to the 1.2890s from 1.280
Dow moving down after a rally
Bonds in the 116s
Oil rallied on supply report but faded, now in the 68s
Dollar keeps falling, Euro stops at 1.2961 for now
Bonds falling from their highs. Dow up and down
near yesterday's highs waiting for FOMC rate
decision. Gold pulling back but may not fall too far
before moving higher. It sure looks like buyers have
awakened, along with the shorts that are scrambling
like crazy to keep from being slaughtered.