Friday, February 13, 2009

12:00PM PST HOW ABOUT THAT CALL FOLKS? GOLD ISN'T THROUGH MOVING UP YET


Dow down 115 and falling
Dollar lower at .8617
Bonds turning up a little
Yen and Euro sideways
I would have expected more reaction to the House passage of the Stimulus Bill. Now the Senate has to pass it.
At least gold is moving to the upside.
Over the weekend is a G7 meeting.
Nothing good ever comes out of those meetings,
although the market did gap mightily back in 1985 after one of those meetings, so you can't discount them.
I don't know whether I will cash out today or hang on. I have an appointment with my tax person at 3pm which leaves me just enough time to get there after the market close at 2:15pm pst. Gold could still rise the rest of the day. Another 40 minutes until the Dow closes, which could have an influence on things. Gold trading volume is very light.