Friday, November 28, 2008
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.
Will gold fall further, or make new highs?
Dollar falls to .8660.
Euro turns down, Yen turns up
Very light volume on the retracement
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
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
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.
Thursday, November 27, 2008
Wednesday, November 26, 2008
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!
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
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.
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
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
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
Gold gets jolted up to .8573...got PPT?
Gold falls to 810 and bounces
Oil gaps down
Down slip lower
Wild market for gamblers only.
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
Dollar standing still at . 8558
Bonds moving back up
Oil down from 53 to 52s
Gold building a ledge to fall from
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
Bonds up and down near their highs
Markets simply moving all over the place.
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
Gold turning back down a bit
Dollar holding still
Euro and Dow still looking weak
Bonds falling from their highs
Euro and Dow still weak
Dollar off its new high of .8573 at touch
and gold starts selling off on the open
Tuesday, November 25, 2008
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.
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
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.