I will keep checking to see if anything opens up tomorrow, as quite often,
despite Holiday Schedules, gold and other commodities continue to trade
in some markets around the world.
Keep in mind, this holiday would be a great opportunity for the Market
Manipulators to pull some DIRTY TRICK to move the gold market down
so that the shorts can cover their hopelessly losing short contracts in PMs.
They could do something to open up the PM markets way down on Sunday
to blow out those traders who are open long on insufficient margins.
The way to protect those longs on the cheap, is to offset them with an equal
amount of contracts SHORT on a DIFFERENT contract month, such as AUGUST
GOLD to offset JUNE GOLD. Your margin requirements drop to those of a
SPREAD and are a couple hundred dollars for, say, five contracts.
Enjoy your Easter/Spring weather and holiday.
Thursday, April 9, 2009
207 contracts unfilled. maybe no one wants to
sell their gold?
Gold is inching up and away from 879 where
all those contracts are bid, so the traders will
have to adjust their bids upwards to get filled,
or gold will have to come back down to fill them
at 879. If you were a trader who was long,
and knew all those bids were sitting there, would
you sell out to them, or hang on for the ride back up?
Dollar has slipped to its low of .8601 since
making a high today at .8624
Dow up 230
The other markets are trending sideways
After a good run up on light volume, gold could
now sell off a long way rather than just a short
GOLD RISES TWO MINUTES BEFORE THE CLOSE THEN SELLS OFF IN THE LAST MINUTE, THEN RISES SLIGHTLY ON THE CLOSE
One minute chart of the closing action.
There appears to be some good sized sell orders
showing up that haven't been triggered. Gold
could sell off now as afternoon trading begins.
Gold moves up on about 200 contracts in over
FIVE minutes, not exactly a rush to buy. More
than likely just some market orders than hit
a thin range of sell stops.
Any you saw how much effect that had earlier
today when gold went right through a similar
junction and dropped lower. This time it could
take it ALL back as it just loves to do.
This whole sell off has been on light volume.
And gold just jumped up about $2 on about 21 contracts
after retracing just past the 61.8% retrace point at 88160
and is still moving up
GOLD RISES TO ONE OF THE DOWNTREND LINES DRAWN ACROSS THE TOPS MADE SINCE THE HIGH AT $1009.80 WAS MADE
Dollar tops out at .8624, currently lower at .8607
Yen moves up well
Euro trending up
Bonds turning down after a slight rise
Dow angling down after a good rise and a gap up open
which should be filled by the market dropping back
a good deal, as gaps are always filled...eventually
Gold is now pulling back and is consolidating near
the top of the white down flag.
It may drop back down to the lower area of the flag
before moving higher, or could just keep going on
this light volume with spurts of moderate to strong volume
along the way until the momentum traders start to jump on
the bull wagon.
It's sort of a 50/50 propositon right now and not really possible
to call by anybody in the SHORT TERM.
LONG TERM...we all know where gold is going, and not too very
long from now.
We are entering the Spring/Summer doldrums for this market,
but that should not be a big problem as the world is in a state
of constant crisis, and not many folks are taking vacations and
stepping away from a market as important as this one is.
GOLD PULLS BACK NORMALLY AFTER A GOOD RUN UP ON LIGHT VOLUME DESPITE THE ZOOMING DOLLAR AND OTHER MARKETS BEING NEGATIVE TO GOLD
The white up flag that gold is trading in resolves
Gold could sell off later today through Crimex
Manipulation of gold and PPT manipulation of
the Dollar which is quite obvious today
The Blue up flag/trend channel resolves DOWN
So does the little white up flag that has developed
in today's trading.
All it will take is one MASSIVE DIRTY TRICK
pulled by the Guv'mint and the Crimex Manipulators
to sink the gold market, cover their hopeless short
positions, and scoop up all the gold they can and hold
on for the eventual collapse of the World's Economy.
Welcome to the end of America and Capitalism and
anything remotely called a "FREE MARKET"
Bonds and Dollar are up
All else is down
Dow up only 150 having given up 50 poinst off
the high today
Dollar hits .8617 high, currently at off one tick
Gold just barely breaks above the blue down flag.
Could keep going but with the dollar so strong
right now, that puts a damper on gold. Add to
that all the Crimex manipulation and gold needs
a rather calamitous event to make traders jump
in big time and drive gold up in a panic spike.
After all this recent weakness, it will take a BIG
EVENT to trigger that action. Also, the news is
all about the distraction of O'Bomb'a crapola that
has NOTHING to do with really fixing this mess.
WHICH, by the way, CAN'T BE FIXED, only accepted
as the disaster it is.
Time for some prosecutions and prison time for lots
of greedy bankers, financila wizards, AND politicians.
GOLD LOOKED VERY WEAK FOR A MOMENT BUT JUST RALLIED WELL, COULD BE A HEAD FAKE MOVE DUE TO LIGHT VOLUME
All the indicator markets are NEGATIVE to
support of gold right now, but remember gold
is trading on its own as a CURRENCY!
Euro's turn up fails and is falling way too hard
Dow turn down is slight
Oil falling pretty steep
The dollar's move is a COMPLETE MANIPULATION
Remember, Sinclair said these criminals are now into
So be very careful and don't get over exposed on margin
if you use it at all. And you shouldn't to be perfectly safe.
Gold suddenly drops to the 75% point and just
as suddenly jumps right back up on 351 contracts.
That is very good as traders know now exactly
where gold retraces to like a robot day in and day out.
Now gold just has to keep moving up..and it appears
to be doing just that.
There seems to be decent buy orders coming in
without excessive sell orders for now. That could
all change in a second if gold does not move up
Euro keeps falling too fast, but has just now
Yen is now falling (good)
Hope this rally isn't a bear trap.
So far this pull back is normal trading, but
it needs to turn back up soon, and with the dollar
just jumping up big time, that could affect this
Gold could consolidate here awhile, but sure
better keep moving up, or it will fall back hard.
We need upward momentum to put this gold
train back on the bullish tracks.
Euro is falling to hard for me
Oil is trending down
Dow is up 200 but is now turning down
Yen sort of sideways but trend is down
Dollar has suddenly zoomed up to .8581
currently at .8576
A last gasp rise one tick higher and the pull back
begins...how far down is debatable, but this market
likes to take it ALL back, before moving up again.
The 75% retrace is at 87910
Now a good pull back and back up higher
Gold does pull back carefully. Making a higher
high at least confirms the bottom for now. The
is the very least level of confirmation for a bottom.
Now we need even higher highs on good volume.
Weak looking descending pattern of lower highs.
We make get an exciting spike up in gold today
ahead of the Easter holiday, but I have no facts
to back that up. Just a guess and the fact that some
of the biggest quick up moves I've ever seen have
been late on pre-holiday sessions.
Otherwise, gold may get beaten down for a few more
days or weeks before turning back up for good.
Gold retests the low after a weak bounce up after
the sell off.