DOWN TRENDS RESOLVE UP
UP TRENDS RESOLVE DOWN
WHAT DO YOU SEE?
Friday, April 24, 2009
WHO COULD POSSIBLY TELL WHAT GOLD IS GOING TO DO NEXT?
Bonds making new lows
Dow up about 130
Dow up about 130
Euro and Yen up
Oil sideways in the 51s
Dollar down again to .8476
ANOTHER RALLY WITHIN THE WHITE DOWN FLAG
Gold doesn't make it the full 75% back up before
getting hit.
Dollar is getting a little boost from PPT
Yen and Euro are falling, but Euro has risen
substantially off its recent lows
Bonds have taken out a recent low and look to be
moving lower as the bond market collapses eventually
Dow is higher by 88, up and down today but higher.
Oil is in the 51s basis June, the new front month,
and has been rising off its recent lows.
GOLD FALLS AGAIN, STILL TRADING WITHIN THE WHITE DOWN FLAG
Gold falls exactly to yesterday's close price, then
a bit lower on substantial volume.
Will it rally here and continue in this trading range?
I don't know, but it could get knocked much lower
due to manipulation, only to rally to new highs later
FEELS LIKE GOLD IS GETTING READY TO DO SOMETHING 'EXPLOSIVE'
Even though volume is light and trading is slow,
it feels like something is about to happen in a big
way. Dollar has inched up a pinch to .84845
IT WON'T SURPRISE ME IF 'THE BOYZ' SOMEHOW KNOCK GOLD DOWN HERE DESPITE THE FALLING DOLLAR
ANYTHING IS POSSIBLE RIGHT NOW!
But you all know where cash gold is going eventually,
and not very long from now. This whole economic
situation is now at CRITICAL MASS.
Just add PAKISTAN to the mix, and you've lit the fuse
for nuclear war at some point.
DOLLAR FALLS TO .8476, GOLD VOLUME FAIRLY LIGHT NOW WITH LIMITED TRADING RANGE
Gold has dropped even lower than shown here
by a little
The dollar could just collapse, which could drive
gold through the roof here, yet it's falling again
right now as I type.
Bonds down,
Euro up
Oil up
Dow up about 50 points
Nothing is making any sense, so don't try to find any.
VERY STRONG RALLY FROM THE SELL OFF ON MODERATE VOLUME, NOW ANOTHER PULL BACK
These markets are strictly for 'experienced' traders
and gamblers now. Even an experienced trader is going
to get reamed if he's not very quick to take profits when
he has them. No long term holds anymore, unless you manage
to 'pick' a bottom and hold on for the long ride up,
but there will be so many ups and downs along the way that
it will drive you nuts have a profit and watching it dissappear
time and again. I believe in trading quickly and looking for the
next opportunity. The best way for the average person is just
to buy your gold coins at a low, and hang on.
This market is going to get even crazier in just a few days or weeks
as the collapse of our economy is only weeks away.
BIG SELL OFF ON THE CRIMEX OPEN, COULD GO LOWER, OR RALLY BIG RIGHT HERE
Dollar has dropped hard to a low of .8481,
currently up a bit at .8508
Thursday, April 23, 2009
GOLD STILL TRADING WITHIN THE DOWN FLAG
Notice that gold reached up to the trendline that
was created using two previous tops, and respected
the line as resistance
GOLD MAY FALL MOVING INTO THE CRIMEX CLOSE
Bonds up
Dow moving up but still off 5 points from yesterday
Euro up
Oil up
Yen sort of sideways
Dollar falls even lower to . 85955
Falling dollar, if it's not boosted by the PPT, should
help gold rally AFTER it pulls back into the close.
IF...gold manages to make a high above the right shoulder
it will have to break up and out of the down flag to do it.
That 'might' negate the sell off I predict, but doesn't mean
that gold will make a much higher high than the 910 we
already achieved today.
Tonight is another story
POSSIBLE HEAD&SHOULDERS PATTERN DEVELOPED
Dollar moves back down to .8606
Euro, Dow, Oil moving down again
Bonds moving back up
Because the last move up was shallow, it is
about time for gold to move down on profit taking
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