Friday, January 16, 2009

THE BIG PICTURE SO FAR


FEBRUARY '09 GOLD FIRST NOTICE IS ON
JANUARY 30, 2009 A FRIDAY
I WILL START USING APRIL '09 GOLD
NEXT WEEK

EVEN LARGER VIEW


THE LARGER PICTURE


THIS WEEK IN GOLD TRADING


2:15PM PST AFTERNOON CLOSE FOR THE WEEKEND


1:00PM PST GOLD MAKES NEW HIGH


11:58AM PST GOLD MAKES ANOTHER HIGH


10:51AM PST GOLD TAPS A NEW HIGH IN AFTERNOON TRADING


Dollar fades slightly at the gold close.
Gold consolidating, could move higher into the
afternoon close at 2:15am pst.
I will be out of the market over the weekend as
these markets are just to skittzy to risk anything
when the markets are closed.

MOVING AVERAGES ON A DAILY CHART JAN 16, 2009


Gold finds support at the 50 day MA
It also has moved above the 10, 40 and 100 day MAs

10:40AM PST GOLD'S NEXT STOP HIGHER IS AT THE 75% RETRACE POINT (852.20)OF THE INTERMEDIATE DOWN MOVE FROM 86930 TO 80150


10:34AM PST GOLD SPIKES ON THE CLOSE


Markets were moving so fast and erratic today,
I had very little time to post. This will start to
be the normal state of things as I have to trade
for a living and that has to come first.
I got myself into a bit of a pickle today, but got
out of it with a small profit.
The main thing I have been trying to point out
to you all, is that gold tends to trade up and down
75 % of the last move as regularly as you breathe.
Except when it doesn't!

9:20AM PST AND GOLD DOES COLLAPSE, BUT HOW FAR?


Gold is on the 50 day MA
Dollar moves up further to .8491 (a new high
for the day)
Dow, Oil, Euro still trending down
But gold is also very close to the 75% retrace point
at 83290, and is NOT showing that month strength
to the upside.
It just sank lower.

9:08AM PST GOLD SETTING UP TO COLLAPSE?


Dollar up
Dow, Oil, Euro all trending down
Yen up,
Bonds up

8:29AM PST GOLD BREAKS OUT HIGHER


Dow, Oil, Euro all suddenly rise pulling gold up,
but just as quickly fade.
Dollar is slipping now...good for gold.
But Bonds are rising well. So, are people
putting their money in bonds rather than gold...?
Or both?
Will gold take off after this pull back?
Only the Shadow Knows!

8:09AM PST GOLD IS TESTING THE UP SIDE OF THE DOWN FLAG


Dollar has moved up off its low at .8404,
currently at .8465
Dow and Oil falling (Oil new front month is MARCH)
Yen up, Euro rising some.

8:02AM PST GOLD HAS REACHED THE FIRST 75% RETRACE POINT OF THE LAST DOWN LEG


7:55AM PST GOLD MOVES UP OVERNIGHT BREAKING THROUGH MANY PREVIOUS TOPS


Yesterday's trading showed gold coming back
strongly after every big sell off. Now, it is
showing even more strength overnight in foreign
markets. Overall, it appears to be safe haven buying.
The little blue down flag will either resolve up taking
gold much higher, or this whole up move will be
hit hard and retrace substantially as the technical
formation looks like gold is headed much higher,
something the shorts cannot allow.

Thursday, January 15, 2009

WATCH OUT BELOW!


7:29AM PST THIS MARKET HAS BECOME RIDICULOUS!


I'm going back to bed.
Stay away from this market for now.

7:10AM PST GOLD TAKES OFF AGAIN



7:01AM PST THESE MOVES ARE BEYOND INSANE!


Dollar has run all the way back up to .8560, a
complete reversal.
People must be getting wiped out today.

6:34AM PST HERE'S THE BIG DROP I SAID WOULD BE COMING


The manipulators sucked in a bunch of rubes
to go long on that last rally, then pulled the rug
out from under them.

6:26AM PST UNBELIEVABLE SWINGS TODAY!


The manipulators are just creaming everybody
this morning. Now that they have the price moving
wildly, they are going to reverse things and pick
the pockets of those who try to trade the swings
thinking that they know what's going on. I wouldn't
be surprised to see a big drop before this last rally can
grow wings.

6:22AM PST GOLD RETRACES 75% OF LAST UP LEG AND GOING LOWER


6:16AM PST GOLD FALLING FAST, DOLLAR PLUNGES TO .84765


Euro rises higher than where it dropped from.
Gold and the dollar are NOT going in opposite
directions, but are moving together...DOWN!
A very crazy day. Anyone who makes money in this
market is simply lucky, not skilled.

6:03AM PST GOLD MAKE ANOTHER HIGH, BUT PULLS BACK WELL THIS TIME


After checking the ten minute volumes during
all that wild trading, it appears it was all a major
manipulation to wipe out weak margin players
in both directions as the volumes were merely
a few thousand contracts per ten minute period.
No more that 5,000 contracts at most. This is
very light volume for such violent moves. We
are getting played big time at the Crimex

5:49AM PST GOLD IS TESTING THE HIGH, EURO SPIKES, DOLLAR PLUNGES


Dollar fall all the way back down to .8508.
Gold has tested 820 three times now. Will
it break through? This market is going berserk
this morning. Things are flying up and down so
fast, I don't think anyone knows what is happening.
This HAS to be a product of the black boxes changing
there positions back and forth after trigger points are
being hit. This is a preview of all future trading. If
you think you have seen volatility so far...you ain't
seen nuthin' yet.

5:43AM PST AND GOLD DOES MOVE HIGHER, WOW!


5:33AM PST SIMPLY WILD TRADING!


Dollar has pulled back to .85395 after the jump
due to the ECB rate cuts.
Euro is rising.
Gold could consolidate at this level and move higher.
This market is now OFFICIALLY a CRAP SHOOT!

5:31AM PST UNBELIEVABLE VOLATILITY THIS MORNING.


These big moves are driving me crazy as there
is so much money I haven't grabbed from them.
I never would have guessed that gold would move
this far up and down in such a short time.
Besides, if I was to trade it, it would stall and I
wouldn't be able to stay awake long enough to
monitor it.
Damn, now it's going higher!

5:23AM PST AMAZING TRADING BEFORE THE OPEN


5:18AM PST OVERNIGHT TRADING IN GOLD


It's always fun to see that I could have slept
all night and sold out just after I usually get up.
But if I'd done that, gold would have fallen to
zero and wiped me out.

5:10AM PST GOLD DROPS LIKE A ROCK ON THE ECB RATE CUT


Dollar jumps up to .8562 on the ECB rate cut
and gold drops, but rallies right back up. One
hell of a move in just a few minutes.
Euro drops about a penny on the news.
Bonds and Oil are falling.
Dow is pulling back some, and now gold is falling
again. All this BEFORE the day session even opens!

5:05AM PST GT GETS OUT BY THE SKIN OF HIS TEETH


I bought in on the green lines yesterday morning.
Had a small profit immediately, but didn't take it
because I thought it would go higher. It didn't.
So, as usual, it played with me two more times and
gave me a chance to get out even. I didn't take that
either. So I have been up ALL NIGHT with no sleep
and just managed to get out with a tiny profit just
before gold dropped like a rock. Now gold has just
run all the way back up to my position after a drop
of $7, all in a few minutes.
I'm too tired to take another position, but I will
watch gold on the open, then I must get some sleep
so I won't be posting for a few hours.
It also appears that I have lost one of my cats as I
haven't seen him since night before last.
I just spent a good chunk having the vet remove a tumor
from his eye (he lost his eye and had a bad case of
conjuctivitis which is a sinus infection).
He was my most loving cat...almost human.
I hope he just got locked in somewhere by accident,
but we have critters up here, like coyotes who could
have grabbed him from his blind side.
I won't be surprised though, if he bounces in soon if
he is locked in somewhere and gets out. I sure will
miss him if he met his maker.

Wednesday, January 14, 2009

6:40PM PST THE LARGER VIEW


This may be my last chart for the night as
I have to monitor a trade gone wrong while
I attemp to grab some sleep.

5:29PM PST GOLD FALLS OUT OF THE BLUE UP FLAG


Dollar has dropped to .8506 (the data on my
delayed charts has changed to that from .8504,
so I don't trust it)

4:34PM PST A LARGER VIEW


4:32PM PST GOLD MOVES HIGHER


1:39PM PST GOLD HOLDING JUST ABOVE THE 50 DAY MA


Dollar suddenly drops to .8511 in the last
35 minutes before the afternoon gold close at
2:15pm pst.
Euro and Yen are moving up
Dow closes down around 250 points
Bonds moved back up
Oil now steady at 37.45 after trading up to 39s
Markets all over the map today.

11:43AM PST GOLD SPIKES BACK UP AND BREAKS OUT ABOVE THE DOWN FLAG


10:42AM PST GOLD STARTS BACK UP


MOVING AVERAGES ON A DAILY CHART JAN 14, 2009


Gold is down to the 50 day MA.
The 10 and 20 day MAs are turning lower...
bearish.
See Dan Norcini's recent remarks on the MAs.

10:35AM PST GOLD SELLS OFF INTO THE CLOSE


So, will it now rise in afternoon trading as usual?
New York trading has become so predictable.

10:03AM PST GOLD KEEPS RALLYING FROM PULLBACKS


8:11AM PST GOLD HAS RETRACED ALMOST 50% OF THE MAJOR UP MOVE FROM 66960


8:07AM PST GOLD MOVES DOWN WITH OIL AND DOW


Be careful of this down flag. With oil and the Dow
falling big time, gold has to use claws to climb
back up even tho the dollar is slipping of its high

Tuesday, January 13, 2009

5:49PM PST GOLD SEEMS TO BE CAPPED AT 823


2:15PM PST AFTERNOON CLOSE


2:15PM PST AFTERNOON CLOSE


1:13PM PST GOLD FIGHTING THRU 174 SELL CONTRACTS AT 822 AND MAKING PROGRESS


There were 174 sell contracts at 822.
So far, there are 60 contracts left with no cancels.
There are buyers here.
When it gets through this lot of sells, gold should
move up well before the afternoon close at 2:15pm pst,
unless somebody gooses the dollar.