Gold does rally a bit but the volume isn't too
strong.
Dollar has moved up a pinch to .88075
Dow is pulling back a bit
Oil too.
Euro flat
Dow rally looks like it has peaked.
Now the shorts should move back in
and take most of it back in the next
five hours of trading
Not surprisingly, at 7:15am pdst, the very minute
that gold bottomed, there were over 3,000 contracts
traded in that minute that gold hit the low at 89710.
It was mixed volume for sure, but it always amazes
me, and others, that lots of people manage to SELL
the BOTTOM, and BUY the TOP. Exactly backwards.
Up volume on the rally was very good all the way.
This pull back may only be profit taking and gold will
turn back up around the 900 level here, just shy of
the 61.8% retrace point.
