Friday, May 29, 2009
GOLD JUMPS ON 1,390 CONTRACTS ONE MINUTE BEFORE THE CRIMEX CLOSE, THEN FALLS BACK AND LOWER INTO AFTERNOON TRADING
GOLD BREAKS BELOW 9871 BRIEFLY WHERE IT HAS BEEN FINDING SUPPORT, MAY GO LOWER INTO THE CRIMEX CLOSE
Gold down to 9765 (not shown)
Bonds push a little higher
Gold makes a new high at 982 and is nearing
another shorter term top line of the purple uptrend channel
and is staying above the top white line of the longer term
intermediate uptrend channel where it seems to be finding support
If gold does hit the top again, it might just go through to new
highs, although the volumes are starting to lighten up a bit
and gold seems to be consolidating in this new trading range
after a terrific run up last night and today. The dollar is simply
horrific, so gold could simply explode at any time.
A MINIMAL PULLBACK ON THE 1ST RALLY OFF THE LOW, BUT STILL SLUGGISH RE-RALLY HERE ON MODERATE VOLUME
Gold thrashing up and down after the initial sell off.
Will probably go lower to find buyers. Volume is oddly lower
that you would expect at this time.
have just moved higher, but are still very much near
their over all lows.
Stocks are rallying on the cheap dollar, and will be paid
off in those cheap dollars too! That is if you have anything
left to be paid off. Stay away from all stocks, except certain
gold stocks. Stay away from the gold ETFs. They may not
have real gold behind them. You're only trading paper until
you get cash gold in your hands.
Gold is moving way too fast for any but the most
experienced trader. And even then, it is a deadly
game if you are not lightning quick to buy and sell.
The best plan is to buy cash only and just hold.
Traders can buy a contract with LOTS of margin money
behind it on a good dip, and let it ride.
Close stops will almost definitely be hit and guarantee
you wasted your money. Taking profit too soon, will
cheat you out of enormous profit per contract for the
rest of the year and longer.
GREED WILL KILL YOU!
Thursday, May 28, 2009
Euro moving down
Yen gradually lower