Friday, February 20, 2009
10:35AM PST THE NY CLOSE, NOW AFTERNOON TRADING UNTIL 2:15PM PST
DOLLAR HAS DROPPED PRECIPITOUSLY
TO .8643 AND BOUNCED UP TO .8670
10:10AM PST GOLD RETRACES 75% THEN BOUNCES AND STALLS, MAY GO LOWER INTO THE CLOSE
Dow down 200 points
Oil falling
Bonds moving up
9:58AM PST RHINO HORN ALERT!!! GOLD MAKES NEW HIGH AT $1007.70
Gold could pull back here into the close and then
move higher this afternoon.
9:04AM PST EURO AND YEN REALLY SCOOTING UP
DOLLAR DROPS PRECIPITOUSLY TO .8726
but gold is still slipping lower
but gold is still slipping lower
8:55AM PST DOLLAR DROPS SUDDENLY TO .87635
Euro and Yen rising briskly
Bonds up
Dow sideways to down
Oil slipping
Gold slips and goes sideways
volumes both directions are uncertain
blips of good volume...then almost nothing.
Gold could be getting ready to spike due
to the dollars sudden fall.
You have to know the bullion banks are absorbing
all bids right now.
Some large sell lots right on the blue trend line are
keeping gold down
Bonds up
Dow sideways to down
Oil slipping
Gold slips and goes sideways
volumes both directions are uncertain
blips of good volume...then almost nothing.
Gold could be getting ready to spike due
to the dollars sudden fall.
You have to know the bullion banks are absorbing
all bids right now.
Some large sell lots right on the blue trend line are
keeping gold down
8:16AM PST GOLD WILL EITHER RETRACE ABOUT HERE AT THE 75% POINT, OR MOVE UP AND TEST THE HIGH AND MAYBE MAKE A NEW HIGH, OR JUST EXPLODE ON MOMENTUM
Gold does move a bit higher on good volume
exceeding all the previous highs made on the
way down. Buyers may move in here on any
decent pull back.
Dollar steady around .88025
Bonds dropping again after a rise
Dow off about 150 points and turning up a bit
Euro up, Yen sideways
Oil falling
7:55AM PST GOLD FALLS 75%, RETRACES 75%, FALLS AGAIN
These are some sweet $4 moves that I would ONLY
trade the long side of for $400 a contract for the maximum
move
7:38AM PST GOLD DOES NOT SUCCEED IN MOVING HIGHER
Gold appeared to be consolidating for a further
move up, but instead is dropping fast
The indicator markets are all moving up and down
so fast I can't even accurately convey to you what
they are doing. They don't mean much to gold anyway.
The significant market is the dollar which has slipped lower
even with it bounce of the day's low.
7:21AM PST GOLD RALLIES 75% AND THEN GOES A BIT HIGHER, COULD PULL BACK, OR EXPLODE
All markets turning lower except for the Yen
Dollar falls to .8788 then rises to .8808 currently
Gold barely pulls back and moves up to just
below the last high at 9959, then drops, then snaps
right back up. Very volatile right now.
6:56AM PST A LITTLE 75% RALLY GETS SOLD OFF TO THE LOW (not shown)
Gold dips a pinch lower to 9924, bounces, is sold off
quickly, tries to move up again, is knocked down and
moves lower. Looks like lower gold for a bit, then
maybe a rally if it gets knocked down enough.
Right now, trading this is foolhardy.
6:39AM PST GOLD SUDDENLY SELLS OFF ON STRONG VOLUME DOWN TO THE GREEN TOP LINE OF THE PREVIOUS UPTREND CHANNEL
The bounce of the low just made is not that convincing
to me. Gold may go lower on profit taking and pressure
from bullion bank selling to keep the price back down.
What's new?
Bonds moving back up after a pull back
Dow moving down again staying near down 150 points
most of the morning.
Euro moving up again
Yen sort of plateauing
Oil moving up in the 38s
Gold building a ledge from which it could fall some more
6:31AM PST A SUDDEN SPIKE TO 99930 WHICH IS IMMEDIATELY KNOCKED DOWN
Volume was mixed at about 540 contracts,
maybe half up on the spike. Looks like the Boyz
are going to sit on gold hard at this level.
6:21AM PST YEN MOVES UP, EURO DOWN, BONDS/DOW CHURNING
Gold attempts a little rally and flops back below the uptrend channel's bottom line.
Dollar hits .8839
Dollar hits .8839
6:16AM PST GOLD PULLS BACK TO THE UPTREND CHANNEL'S BOTTOM LINE
No idea which way gold will go here until it makes
a bold move up or down.
It looks like it's going down on profit taking right now,
but the BOYZ will jump on it to drive it down further
if possible. However, as bad as the news is here, I would
think that any gold offered for sale would be bought up
in a flash. Such is the nature of economic crisis
6:13AM PST NOTICE: MY CHARTS WERE PUT ON GOLDTRADER COMMENTS BY ACCIDENT
Working on one computer, I didn't notice that today's charts were posted
on GOLDTRADER COMMENTS.
I will start posting the remaining charts for today here.
Blogger makes me sign in and out of each blog and somehow I got on the
wrong blog.
on GOLDTRADER COMMENTS.
I will start posting the remaining charts for today here.
Blogger makes me sign in and out of each blog and somehow I got on the
wrong blog.
Thursday, February 19, 2009
11:40AM PST GOLD FLOPPING UP AND DOWN FOR NOW
Gold did that quick up spike just before the close, sold off and has been trading up and down around the position I took on the green line which went against me (as always) then on the spike would have made a sweet and quick profit, but I was typing out a chart for you folks when it happened and it was so quick I would have had to hit the send button with lightening speed to get much of it. I waited a bit to see if it would go back up but settled for a small profit (gas money) as gold has a habit of making things worse before they ever get better, and also steals my sleep time (like I have any!) from me.
My computer problems turn out to be a five year old Netgear router that should have realistically only lasted 3 to 4 years. It's time to buy another one at Buy.com where I get most of my computer toys. All in all, this computer problem has cost me many thousands in lost trading opportunities. I know I could have knocked out at least $5000 today even if I only got half of what was available. Isn't that always the way it goes. The fatest bird gets away and you have to settle for road kill.
10:28AM PST GOLD RISING INTO THE CLOSE, MAY GO HIGHER IN AFTERNOON TRADING
Gold retraced about 61.8% of the up move from 9616 and is spiking at the close.
Very fast up spike that was immediately sold off.
Is now holding and may move up more into the afternoon
10:17AM PST GOOD BOUNCE OF THE LOW AT 9716
Gold could rally into the close
Dollar at .8766 slipping down after
a small rally off the low of the day
Gold selling off some more below
the 75% retrace point.
May retest the low and rally
I'm sure the guv'mint is pounding gold
with everything they've got to keep it down
to prevent it from exposing the total worthlessness of the $$$$'s they've inundated
the money supply of the World with.
Nice rally after the new low at 9713
9:45AM PST GOLD GOES INTO A TRADING RANGE BETWEEN 972 AND 984 MAXIMUM WHICH IS NARROWING
This type of trading range, as it squeezes tighter, has to break out one direction or the other.
I think gold has to break up, but I have said that before and gotten creamed in massive sell offs in the last five years.
The other markets don't seem to be helping much anymore as the manipulation by bullion banks, PPT, and guv'mint in general are moving these markets. One day soon they won't be able to suppress gold anymore and will all end up in jail or hanging from the cherry trees in D.C.
7:51AM PST A QUICK CHART
I don't have any idea what's happening right now as I don't have any real time data or time to consult delayed charts while I fix my computer problems.
Gold could get bashed hard, but I just don't have a clue right now.
More charts when I have time.
7:00AM PST GT IS GOING TO BE BUSY FOR A WHILE
I may have to restore both my desktop computers and my laptop today.
I can't connect to any of my order platforms to trade although I can get anything
else on the internet.
Any suggestions?
Put them on TALKBACKTOGOLDTRADER.
I can't connect to any of my order platforms to trade although I can get anything
else on the internet.
Any suggestions?
Put them on TALKBACKTOGOLDTRADER.
4:30AM PST GOLD TRADING OVERNIGHT
Dollar is down.
Once again, I am having trouble getting my order platform to work. I have to get that fixed which will delay may further posts.
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