DAILY MOVING AVERAGES FOR GOLD 12/5/08

THE BIG PICTURE SO FAR

A LARGER VIEW

THE INTERMEDIATE DOWNTREND CHANNEL (pink lines)

2:15PM PST AFTERNOON CLOSE FOR THE WEEKEND

10:27AM PST GOLD SELLS OFF AFTER THE CLOSE

10:15AM PST GOLD CREEPS UP STEADILY ON LIGHT VOLUME AND A SLIPPING DOLLAR

8:41AM PST GOLD COLLAPSES FURTHER AND MAY CONTINUE TO FALL

Dollar up to a high at .8761

Euro dropping to 1.2632

Dow off 250

8:03AM PST WHICH TREND CHANNEL WILL PREVAIL, BLUE GOES UP, WHITE GOES DOWN, BLUE IS DOMINANT

7:52AM PST GOLD HOLDS AT 745 AREA TWICE, BUT IS PROBABLY GOING DOWN FURTHER

The "ledge"/trading range is acting as resistance.

This is a very weak looking pattern.

Given the falling Dow, gold could be taken down

with it on margin selling, etc.

Gold could retest the 720 area or lower.

Expect absolutely ANYTHING to be possible!

7:22AM PST THE 75% RETRACE POINT IS AT 73330

Dollar at .8740 of its high at .8755

Euro falling, currently 1.2656

Dow off 245

Bonds off their 135 high in the 134s and rising

Oil down to 42s

Yen rising

7:15AM PST GOLD FALLS OFF THE LEDGE

7:12AM PST MOST NORMAL TRADING HAS PEAKS, NOT PLATEAUS AT THE EXTREME HIGHS AND LOWS

This is probably the best graphic example of

MANIPULATION that you could see.

Normal markets don't have these kinds of patterns.

7:10AM PST ANYBODY SEE A RATIONAL PATTERN HERE? I DON'T

7:02AM PST GOLD DROPS $22 IN 15 MINUTES ON 11,900 CONTRACTS

Gold is now trading sideways after the big sell off.

It may be forming a ledge to fall from.

There is simply NO discernible pattern to gold,

except in the longest time frame.

NONE of this makes sense, and is intended to be so

by those that are manipulating this market.

The ONLY sane way left to acquire cash gold, is to

TAKE DELIVERY from Comex.

The remaining part of December will consist of

book balancing for tax purposes, and the markets

will become thin and prone to exagerated moves.

10:48PM PST LAST CHART OF THE NIGHT

10:26PM PST

MOVING AVERAGES ON A DAILY CHART

5:55PM GOLD IN A TRADING RANGE ALL WEEK BETWEEN 760 AND 790

5:53PM PST AFTERNOON/EVENING GOLD

11:50AM PST GOLD FORMING A LEDGE TO FALL OFF OF

Dollar at .8656

Euro at 1.2793

Dow of 60 or more

Oil down to 43s

Bonds still up in the 133s

11:35AM PST

11:17AM PST GOLD RALLIES AFTER THE CLOSE

dollar currently .8649

Euro currently1.2805

10:36AM PST GOLD SELLS OFF INTO THE CLOSE, THEN RALLIES A BIT

9:52AM PST GOLD FALLS A BIT FURTHER AND BELOW THE 75% RETRACE POINT AT 76970

Dollar up to .8652

Euro still slipping, to 1.2782

Dow off about 50 points at this hour

Bonds move up to the 133s

Oil down to 44s

9:46AM PST GOLD BUILDING A LEDGE TO FALL FROM

Dollar starting to move up, currently .8643

Euro at 1.2828, not showing more strength to

the upside

Dow still dow about 28 points

gold beginning to slip lower

9:28AM PST

9:25AM PST

DOLLAR DROPS TO .8618 BEFORE MOVING UP A PINCH

Dow is now falling about 50 points
Gold is falling, Euro is rounding over,
currently at 1.2815
but Dollar is still near its low at .8618, currently .8630
No PPT push up for the dollar yet showing.
Gold currently at the top blue line seeking support
The 75% retrace point is at 77590 right on the blue top line
SEE OLD CHARTS

DOLLAR DROPS TO .86245

Euro was hugging its highs at 1.2840
but is now falling to 1.2826 and gold is
not rising with the falling dollar but is
holding above the blue top line of the old
down flag
NO CHART HERE

8:40AM PST A CLOSER LOOK AT THE SPIKE UP AND PULL BACK

At 8:28 am pst 1,500 contracts bought up everything

gold from 780 to 790, followed in the next minute by

1,670 contracts that were lower than 790. So some

were buys and some were sells. From there on gold

dropped lower to 778 on lower volumes.

Could have been a panicked short covering his shorts.

It would have had to be a market order to buy to grab

such a range of prices.

8:28AM PST GOLD SPIKES TO 790 AND IMMEDIATELY PULLS BACK BUT IS STAYING ABOVE THE BLUE TRADING RANGE TOP LINE

Dollar plummets to .86314

Euro sky rockets to 1.2820

gold now pulling back on profit taking from such

as quick spike. May hold at top blue line then

go back up

8:00AM PST

Resistance is in the 780 area

Dollar is down to .8685

Euro is up to 1.2740

Dow is barely up at 8634 tops and wavering

Bonds have climed into the 132s, (they will crash eventually)

as they pay nothing and are NOT a safe haven like gold.

We could see another gold run up until the Euro hits

its previous high at 1.2762, but all run ups will be

hit hard and sold down.

7:29AM PST THE PULLBACK AFTER THE QUICK RUNUP

9:32PM PST THE LARGER PICTURE TONIGHT

9:14PM PST

Euro moving down 1.2655

Dollar moving up to .8712

No idea where they will take it tonight or in

the morning. It has all become a GIANT CRAPSHOOT!

DAILY MOVING AVERAGES FOR GOLD 12/3/08

DAILY MOVING AVERAGES FOR GOLD 12/3/08

5:05PM PST GOLD TRADING TODAY

8:15AM PST SO HERE WE ARE..RIGHT BACK WHERE WE WERE YESTERDAY

This is complete bullshit and I'm sick of it.

I'm going to go to bed and watch a movie.

I'm sick of being manipulated.

7:59AM PST GOLD SPIKES AS EURO, DOW, OIL MOVE UP

Dollar moves down to .8694.

None of these moves make any sense according

to any fundamental reasoning. The markets are

just moving in relation to one another and it has

become a minute to minute gambling pit.

You can't predict any of these moves. They come

out of nowhere. And they don't seem to allow but

one or two legs before they turn around quickly.

That's how they get you.

This runup will most likely be sold off completely

for the rest of the session.

7:44AM PST MARKETS NOTHING LESS THAN CONVULSIVE

7:00AM PST ALL MARKETS ARE WILDLY VOLATILE, ONLY BUY AND SELL EXTREME POINTS

6:54AM PST

6:32AM PST

Dollar up, but off its highs

Euro barely moving

Yen moved up, backed off, and up again

Dow lower on the open

Oil down to 47s

Bonds way up

MOVING AVERAGES ON A DAILY CHART (see Dan Norcini's comments from Dec 2 at JSMINESET.COM)

6:03AM PST A CLOSER LOOK OF THE OPEN

6:03AM PST A CLOSER LOOK OF THE OPEN

6:00AM PST GOLD TAKES A BIG DIP JUST BEFORE THE OPEN, BUT RALLIES $6

6:00AM PST GOLD TAKES A BIG DIP JUST BEFORE THE OPEN, BUT RALLIES $6

7:29PM PST LAST CHART OF THE NIGHT

I may trade over night tonight if I can stay awake.

If I am not too tired I will get up with the market

tomorrow. If I'm too pooped I will get up in the

middle of the market, so don't be surprised if you

don't see charts posted in the morning.