Friday, November 14, 2008
Thinigs moving very fast. Hard to post.
My computers and internet connection are
slowed dramatically. Very frustrating.
Thursday, November 13, 2008
Moderate volume on this rally compared to
the sell off volume.
dollar falls to .8750,
Euro is rising.
Gold keeps inching up but may soon get hit and
knocked back down to the morning's lows
Dollar up, Euro falls to near old low at 1.2326
Bonds have a sudden dramatic sell off, but then
Dow keeps falling
Oil in the 55s
Wednesday, November 12, 2008
Gold retraced 75% to 70970 then took off and
moved back up to the previous high at 714
Euro has moved up to 1.2472
Gold has a better chance of moving up in
over night markets but is sure to be knocked
down again as it enters the NY market.
This will not change until some event causes
gold to skyrocket to its natural place in the Universe
where the retail market already declares is belongs.
Comex traders should take delivery of their Dec contracts
and "assist" Comex in returning to a state of REALITY.
Dow tanks another 400 points, dollar up to .8822
on its high of the day
Euro at 1.2464 after hitting a low of 1.2446
Oil down to $55 (so why is gas still so high?)
Be sure to read Dan Norcini's comments at
JSMINESET.COM along with Jim's.
This economic calamity is becoming extremely
alarming and is about to blow up any day now.
The Comex Dec Gold delivery should be a trigger
to blow gold to the moon if enough traders take
However, knowing how gold trades, I believe it
will fall further to the 75% retrace point at 70530
(see previous charts)
Tuesday, November 11, 2008
Dollar is slipping, Euro is moving back up
Dow still off about 300
Oil dips below 59 to 58.30 but moves back up
Gold could break lower from the up flag, although
it is moving back up at present.
Gold has fallen below the green uptrend channel
Dollar is up to a high of .87675 (data not reliable)
Euro has tanked big time down to 1.2494
Bonds scooted up to the 118s which lowers long term
interest rates, the very opposite of what needs to
be done to stop the inflation, but people are still willing
to flee to the illusory "safety" of Bonds yielding
almost nothing, and after factoring in inflation,
less than nothing. Dow is down 250-300
As I warned you on Sunday, gaps are always
filled. The gap on the open Sunday is now filled
and gold has even fallen below the green
intermediate uptrend line and more than 75%
of the up move between 72550 low and 76890 high.
Most markets are open today, Veterans'Day, and
volumes are fairly normal. First hour volume in gold
was 12k down then another 12k mixed up and down
volume, so gold is trying to build a bottom near 730