THE BIG PICTURE SO FAR

THE INTERMEDIATE UPTREND CHANNEL (red lines)

THIS WEEK IN GOLD TRADING

2:15PM PST AFTERNOON CLOSE

1:11PM PST GOLD SUDDENLY DROPS 75% OF THE LAST UP LEG

12:10PM PST GOLD MOVES ABOVE THE DOWN FLAG WEAKLY WITH 2 HOURS TO GO

11:15AM PST GOLD FORMS A DOWN FLAG

11:00AM PST FRIDAY'S TRADING SO FAR

10:49AM PST GOLD PULLS BACK AFTER THE CLOSE, OTHER MARKETS CLOSE EXCEPT OIL

Euro, Yen, Dow, Bonds all closed.

Dollar at .8670.

Oil up to the 55s

Gold trades until 2:15PM PST.

It will probably climb for the rest of the afternoon.

10:14AM PST DOW CLOSES EARLY UP 100 POINTS, GOLD BREAKS OUT OF DOWN FLAG, RETRACES 75% TO 820

Will gold fall further, or make new highs?

Dollar falls to .8660.

Euro turns down, Yen turns up

Very light volume on the retracement

10:02AM PST GOLD FORMS A DOWN FLAG SUPPORT AT 815 AREA

Gold retraces, does a quick head fake up, but

continues down. Could fall to 815 area where

the previous tops are and find support there,

or could do what it often does...take the whole

up move back.

Dow and Euro are moving up and could drag

gold up. Dollar falls further to .8665

9:32AM PST GOLD SPIKES UP $8 FOR NO REASON ON STRONG VOLUME

Dollar is even up strongly today at .8686, down

a bit from its high at .8701. (delayed chart quote)

*Apparently the dollar had dropped to .8670

which I discoverd a few minutes later when my

delayed chart updated.

Must be a hedge fund jumping into gold before

the weekend.

This is an example of a late weekend/holiday

run up that comes out of nowhere about which

I have told you in the past.

9:25AM PST GOLD ACTIVE TODAY AND TRADEABLE WITH VERY FEW CLUES FROM OTHER MARKETS

5:32PM PST MOST MARKETS REOPEN FOR REGULAR BUSINESS

1:42PM PST THURSDAY GLOBEX TRADING

Gold going sideways between 813 and 815 on

very light volume. May pick up overnight.

6:30PM PST GOLD GOING SIDEWAYS FOR THE LAST 3 DAYS

6:20PM PST GOLD INCHING UP

Sold out my position for a quick profit after it

fell after making the same profit almost immediately

after I put the long on only to have it disappear and

then have to wait for hours to earn it twice. This

market REQUIRES traders to take every small profit

the second you have it. It is a pure waste of time, money

and energy to have to earn your money twice.

I will be trading this market for very small profits

throughout the weekend, as waiting for large moves in

this time period is a waste of time. All I give up is

extra trade commissions, which I gladly will do to

avoid having to stare at the computer screen for hours

waiting for my position to re -earn what I just had, but

was foolish enough not to take while I had it.

This is the state of the current gold market folks.

HAPPY TURKEY DAY TO YOU ALL.

DON'T EAT TOO MUCH PIE!

2:15PM PST AFTERNOON CLOSE

The horizontal green line is where I got in just

before the close at 2:15pm pst just to be sure

I had something in the market over the weekend.

Globex gold is trading regular hours clear through

Friday afternoon when it will close at 2:15pm pst

until it reopens on Sunday at 3pm pst

1:11PM PST DOW AND GOLD SELL OFF AFTER THE DOW CLOSE

1:03PM PST DOW HOLDS ITS RALLY SO GOLD STAYS UP, ONE MORE HOUR TO GO

Dollar near its lows at .8565

Wonder who bought the Dow?

Would you believe the Guv'mint?

Just before a long weekend it would be nice to

have the Dow UP, wouldn't it?

Gold just dropped $3 out of the up trend channel.

The next hour could be interesting to see where

gold winds up before the markets close for the holiday.

Both gold and Dow starting to sell off after the close.

Surprise, surprise!

12:08PM PST DOW BEGINS TO SELL OFF, SO GOLD GOES DOWN TOO!

Dollar falls to .8570

11:20AM PST THE AFTERNOON RALLY

Dollar is down to .85825

10:34AM PST GOLD DOES A SLOW FADE ON THE CLOSE, NOW THE AFTERNOON RALLY

Yen moving up, Euro down, Dow moving down

Oil really bouncing up and down

Dollar at .8588 up a bit from its recent low.

gold now dropping lower

10:15AM PST GOLD MAY RALLY RIGHT AFTER THE CLOSE

Dollar falling back to .8586

THE LARGER PICTURE SO FAR

Dollar hits .8625 but falls back to .8606

8:24AM PST MARKETS STOP MAKING ANY SENSE AT ALL

Dollar get pushed up to .8607

Euro AND Yen both falling rapidly

Oil jumps back up to 53s

Dow rallies even more

and gold is moving up very slowly in waves on

light volume with pulses of moderate volume

that don't last.

7;56AM PST GOLD DOES AN ABRUPT TURN AROUND

Dollar is goosed to .8580 but immediately fades

to .8562, and now has been forced up to .8590.

Any manipulation going on here?

Euro climbs, but is now falling rapidly

Yen falls

Dow rallies more, but any rally will be sold before

the close today.

Gold could move higher and is coiling now gaining

energy for that up move. But a small pullback is

possible before it breaks higher, especially with

the Euro falling so quickly

6:40AM PST EVERYTHING GOES IN REVERSE AS OIL GAPS DOWN ON SUPPLY REPORT

Gold gets jolted up to .8573...got PPT?

Gold falls to 810 and bounces

Euro drops

Oil gaps down

Down slip lower

Wild market for gamblers only.

7:35AM PST DOLLAR DOWN TO .8532, GOLD RALLIES 75%, THEN FALLS AS EURO AND DOW TURN DOWN

7:02AM PST DOW RALLY STARTS TO FIZZLE, GOLD MOVES DOWN

Dollar moves down a bit

Markets flouncing around so wildly in tight ranges

that it's hard to even report on them.

Gold now moving back down lower

6:44AM PST EURO DOWN, YEN UP, GOLD PROBABLY MOVING DOWN MORE

Dollar standing still at . 8558

Bonds moving back up

Oil down from 53 to 52s

Gold building a ledge to fall from

6:28AM PST DOW TO OPEN LOWER, EURO DOWN, DOLLAR UP A BIT

Gold could find support here. It will go the

same direction as the Dow on the open.

6:17AM PST GOLD DOES PULL BACK FROM THE PREVIOUS HIGH, COULD FIND SUPPORT ON WHITE UPPER LINE OF DOWN FLAG

Dollar at .8555

Euru pulling back

Yen moving back up

Oil up

Dow slipping

Bonds up and down near their highs

Markets simply moving all over the place.

6:02AM PST GOLD MOVING UP VERY CAUTIOUSLY ON LOW VOLUME

gold hits previous high at 82430, may pull back

from there. sell orders starting to come in.

Dollar pulling back from its high.

gold could move up to the 75% point at 82750

5:26AM PST VERY LIGHT VOLUME ON THE BOUNCE, WAIT FOR THE REPORTS

Gold turning back down a bit

Dollar holding still

Euro and Dow still looking weak

Bonds falling from their highs

5:18AM PST DOW EXPECTED TO GO DOWN, COULD PULL GOLD DOWN WITH IT

Euro and Dow still weak

Dollar off its new high of .8573 at touch

and gold starts selling off on the open

5:05AM PST NEW LARGER DOWN FLAG, UPTRENDLINE VIOLATED

4:50AM PST STILL MORE SELLING PRESSURE

MARKET ACTING VERY SCHIZZY RIGHT

NOW. With all the reports coming out, it may

be ready to wait for the reaction to them.

Dollar edging up, Euro hugging the lows

4:40AM PST EURO IS FALLING AND SO IS DOW INDEX, GOLD SELL ORDERS GROWING WATCH FOR DIP BEFORE THE OPEN

4:24AM PST THE DIP BEFORE THE MORNING RUN UP?

The down flag resolves up

gold could move down to the blue uptrend line,

or even down to 81320 (75%) before moving

higher just before, or on, the opening

7:44PM PST

6:12PM PST BLUE UPTREND LINE RE-DRAWN TO INCLUDE THE LOW AT 812

4:49PM PST GOLD SELLS OFF 61.8%+ IN AFTERNOON TRADING

Dollar sinks to .8465 blowing right through the

.8500s...Whoa Nellie! And right before a long

holiday weekend. I wonder what the rest of the

World that doesn't celebrate Turkey Day will do.

Us turkeys might just get screwed blue by monday.

1:03PM PST

11:33AM PST GOLD TRADING SIDEWAYS IN AFTERNOON TRADING

Gold managed to take back almost every cent

of this morning's runup for whatever reason

(see Dan Norcini's comments on my other blog or

JSMINESET.COM).

So far gold is holding between 822 and 815 which

it has hit twice on both sides of the trading range.

Nothing magic about those numbers that I can detect.

Dollar fell back to its low twice breaking below .8500.

I expect it to punch through that soon heading south

rapidly (again see Norcini's comments).

Euro put in quite a rally today, but eventually sold off.

That and the Dow both falling brought gold back down

along with Oil coming back to the 51s.

These markets are all trading with little sense or long

term patterns and are all reacting to one another.

This is approaching panic type trading, and will become so

when all this funny money doesn't have the intended

consequences and entities keep going BK.

The U.S. Guv'mint is just eating debt like a vacuum and

will soon collapse under the weight of its LACK OF CREDIBILITY.

O'bomb'a won't fix anything. In fact, he will make it worse,

or turn us into a nation of guv'mint worker bees picking up

trash by the freeways which will be empty except for military

convoys transporting guv'mint cheese to the relocation camps.

I'm off to town for supplies and pulling more money out of the bank.

This weekend would be a perfect time for the criminals to

do something dastardly while the population is laying on the couch

sleeping, burbing turkey fumes, or watching another football game,

the same game you have watched five million times before.

Then it will be interesting to see how many people DON'T go

shopping on Black Friday.

8:11AM PST GOLD TAKES ALL BUT 10 cents OF IT BACK

Talk about shooting fish in a barrel, or taking

candy from a baby.

These guys are shooting babies in a barrel!

7:55AM PST GOLD TAKING IT ALL BACK, SO WHAT'S NEW?

7:43AM PST DOLLAR RISING TO .8540+, EURO FALLING

Gold falling fast

Dow coming down

Oil down to 51s again

Yen rising

7:30AM PST WHICH WAY NOW?

7:11AM PST GOLD MAY RETRACE, THEN GO HIGHER

Dollar weakening again to .8511

Euro moving back up