A LARGER VIEW OF THE INTERMEDIATE HIGHS

THIS WEEK IN GOLD TRADING

THE BIG PICTURE

MOVING AVERAGES FOR 5/15/09

2:15PM PST AFTERNOON CLOSE FOR THE WEEKEND

GOLD DROPPING AHEAD OF THE 2:15PM PDST CLOSE FOR THE WEEK

THE LARGER VIEW

1:15PM PDST

1:12PM PDST

GOLD PROBABLY GOING SIDEWAYS THE REST OF THE AFTERNOON

DOLLAR FORMS A REVERSE H&S PATTERN AND MOVES UP TO .8318

Bottom line of the red down flag keeps getting lower

as lower lows are made. When it reaches 75% point, the

down flag is history (my rules for now)

GOLD MOVES LOWER, DROPS BELOW THE DOWN FLAG

Dollar shoved up to .8310,

Everything else is down

GOLD DROPS AFTER THE CRIMEX CLOSE

GOLD DROPPING APPROACHING THE CRIMEX CLOSE

Dollar at .8282 down from its recent high of .82865

Bonds, Dow, Oil, Euro all down

GOLD STILL 'STAIR STEPPING' LOWER WITHIN THE RED DOWN FLAG, COULD BREAK HIGHER AFTER THE CRIMEX CLOSE

GOLD FALLS TO THE LOWER PART OF THE RED DOWN FLAG ON LIGHT VOLUME A HALF HOUR BEFORE THE CRIMEX CLOSE

GOLD MOVES HIGHER IN THE RED DOWN FLAG

Gold either breaks out of this down flag and moves higher,

or it will sell off as we approach the final minutes of the

Crimex session. The short afternoon session could be a

different situation.

GOLD MAKING LOWER HIGHS AND LOWER LOWS WITHIN THE LARGER DOWN FLAG...THE DEFINITION OF 'BEAR'

Bonds suddenly drop

Euro, Oil, Dow, all moving down strongly

Dollar moved up to .8281, but has dropped from there.

Currently at .82715

And gold still creeps back up after a shallow dip retracement

of the rise off of 93020 and is moving higher slowly.

A real gambler's market. So far, a 50% retracement of the

whole move down from the day's high at 93480.

The bids near 930 aren't showing, but could reappear if gold

moves lower.

DOLLAR JUMPS TO .82795, THANKS PPT

GOLD 'TOYING' WITH THE 75% RETRACE POINT AT 9300

Gold trying to find support at the retracement point, but

everything else says gold is going down.

Dollar up to .8266

Bonds up

Dow going negative

Oil plunging

Euro also down sort of hard

Markets turning around fast approaching the end of the week

Still, gold fools us once again (or tries to fake us out?) and rises

off the 75% point (930) of course, on light volume.

110 BUYERS SITTING AT 93040

Dow sinking fast to about even on the day

Euro down Yen up

Oil down

Dollar gets a goose up to .8266

Gold 'should' fall from here, but who knows anymore?

GOLD HAS TO HOLD HERE, OR IT'S GOING DOWN

RED DOWN FLAG SHOULD RESOLVE UP, BUT VOLUME IS LIGHT WITH SELL 145 ORDERS AT 935

Dollar up

Euro turning down

Dow peaking

Oil coming down

AFTER ANOTHER POKE AT THE HIGH AT 93480, GOLD WILL PROBABLY TAKE IT ALL BACK

NOW A BIG PULL BACK? OR DOES GOLD CONSOLIDATE AND MOVE HIGHER, EVEN ON LIGHT VOLUME?

THE LARGER VIEW

GOLD SPIKES HIGHER ON BRIEFLY STRONG VOLUME

Gold will either consolidate here to move higher, or pull back

on profit taking and suppression by 'the powers'

Euro moves higher

Oil moving up

Dow up 80 and climbing

Bonds fall off their ledge and fall much lower

Dollar slips further to .8243

Now gold is starting to fall after making a slightly higher high,

which is where the last suckers always move in AFTER the move

has been made.

ONLY BUY IN ON DIPS if you want to make money

GOLD RUNS UP TO ONE TICK SHY OF THE PREVIOUS INTERMEDIATE HIGH AT 93140 AND BACKS OFF

The close up view

Gold is backing off from every possible point of resistance.

Previous highs, retracement points, congestion areas.

Anything that might be a stopping point.

Traders cause that as the take their profits at all points

where gold might stall. Then they wait and rebuy after

it pulls back. The smart ones DON'T short the market, but

only buy on dips and make some very good money and PREVENT

getting wiped out IF and WHEN gold explodes, which it will do soon.

GOLD RUNS UP ON SO-SO VOLUME, MAKES A SLIGHTLY HIGHER HIGH, AND FALLS BACK

Dollar slips further to .8248

Bonds finally pull out of their nose dive and stabilize a bit

Dow up about 30 and thrashing there

Euro rises some more

Yens stops falling

Oil breaks through 58 by 15 cents

Maybe gold will go higher today, but I suspect some kind

of attack soon, what with the dollar falling, and so weak

DOLLAR MOVES DOWN TO .8249

Dow up 50
Oil rising but having trouble getting
back above 58
Euro rising
Bonds still falling
Gold moving up cautiously on low volume

I'M EXPECTING GOLD TO MOVE MUCH LOWER

Gold needs to find support at the top blue line of the down

trend channel, then at the bottom line, then at the white

uptrend channel line. If not, it moves down a good deal lower

DOLLAR DOWN TO .8262, GOLD RISING

A rather weak rally on light volume. Gold volumes have
simply gone light in relation to past months. Not enough
bad news of major consequence to stimulate people into
the PANIC they will surely exhibit shortly when their
world falls apart.




Dow barely positive, up 10


Euro starting to rise


Yen still falling


Oil up and down on its lows


Bonds moving down fast

GOLD RISES A BIT ON LIGHT VOLUME

GOLD TAKES A LATE HIT OF 350 CONTRACTS DOWN TO BELOW THE 75% POINT, A SMALL BOUNCE, MAY GO LOWER

Dollar slipping to .8268, currently at .8273

Euro turns up a bit after a steep sell off

Yen moving lower

Oil backs off to 57.40, now rising a bit

Equities moving up but still off from yesterday's close

Dow off about 12

Bonds moving down

THE NEXT INTERMEDIATE 75% RETRACE POINT IS AT 94380

THE PULL BACK BEGINS

THE LARGER VIEW

GOLD WILL PROBABLY STOP AT 9314

GOLD BREAKS OUT ON MODERATE VOLUME WITH ONE MINUTE OF STRONG VOLUME, STILL PUSHING UP, MAY GO HIGHER, BEFORE CRIMEX TAKES IT ALL BACK

A STAND OFF GOING ON AS GOLD TRADES IN A TIGHT RANGE ON LIGHT VOLUME

Probably waiting for the CPI

report to come out before gold

will make a big move

CPI REPORT AT 5:30AM PDST

Should be very encouraging...NOT!

A LITTLE SUCKER RALLY ON THE OPEN, THEN DOWN IT GOES

GOLD MOVING DOWN, DOLLAR UP, EURO DOWN, OIL DOWN

Potential for gold to get hit

hard on the opening and taken

much lower before any rally

GOLD GETTING SOLD AHEAD OF THE CRIMEX OPEN AFTER A DECENT RUNUP

Dollar up to .8291, currently .8288