Friday, June 26, 2009

2:15PM PDST AFTERNOON GOLD CLOSE


GOLD IS VERY LETHARGIC TODAY. MAY INCH HIGHER THIS AFTERNOON


GOLD SELLS OFF INTO, AND AFTER, THE CRIMEX CLOSE


VERY LIGHT VOLUME ALL DAY, EXCEPT ON THE
SELL OFF, WHICH WAS MANIPULATED.
Dollar got a bump up to .8000

DOLLAR MAKES A NEW LOW FOR THE DAY AT .7990

GOLD VERY QUIET JUST AHEAD OF THE CLOSE,
MAY SELL OFF DESPITE THE DOLLAR'S FALL

THIS IS NOT A CONVINCING RALLY TO ME, BUT THE EURO IS RISING AND DOLLAR SLIPPING A LITTLE


GOLD GOING DOWN SOME MORE, BUT HOW FAR?


Gold is showing NO strength today...but there will be
a bottom soon.
A clump of over 100 buyers is at 937 which corresponds
with the yellow uptrend line

GOLD SEEMS TO HAVE FOUND SUPPORT ON THE OLD WHITE UPPER DOWNTREND CHANNEL LINE FOR NOW


Volume is still too light and directionless
There are occasional bouts of good up volume, but it doesn't
carry gold very far.
The Indicator markets are in disarray, but generally not
supportive of gold right now.
Looks like we might have to wait until next week for gold
to make a major move unless something happens late in
this session, which could happen.
I closed my August gold longs last night for a tiny loss as
I got tired of waiting for gold to move up enough to get me
out with a profit.
I was losing too many opportunities for the many profitable
trades that occur every day because my funds were tied up
and I couldn't take the chance to do any trades in case gold fell further.
A thoroughly wasted two weeks.
But I now have my funds free to trade and am eager to take advantage
of the volatility that presents many opportunity for short term trades every day.
This market is for day traders and gamblers ONLY.

THIS AIN'T THE BOTTOM YET


Gold 'may' find support on the WHITE downtrend line
that gold moved above, but there is lots of room to move
down if traders start locking in their profits from this long
up move gold just dropped below.
Oil, Dow and Euro are moving lower
Bonds have pulled back from their highs in a down flag that
could resolve up.
Dollar has inched up and formed an up flag that resolves down

THREE WEAK RALLIES FORM AN UP FLAG THAT RESOLVES DOWN


Bonds moving down
Oil and Dow moving up
Euro pausing
dollar slipping a bit and trending down overall
Very hard to call this market here as gold is near its highs
and could get taken down before making any new highs

GOLD IS STAIR STEPPING LOWER ON LIGHT VOLUMES, A BIG DIP IS COMING


Gold has dropped through the first 75% retrace point and
has paused at the 2nd point at 9435 and rallied weakly twice
to 9456. A 3rd test of 9435 may punch through it and would
go much lower.

VERY LIGHT VOLUME, GOLD MAY FALL FURTHER


Volume does NOT indicate a rally here.
Gold is probably going down a good bit before the next rally



GOLD HITTING RESISTANCE AT 949


Blogger is very slow this morning...hard to post charts quickly
Wait for a big dip in gold before buying in.
Euro and Yen may be topping
Oil is falling
Dow is falling
Bonds rising
Dollar is moving down

Thursday, June 25, 2009

2:15PM PDST AFTERNOON GOLD CLOSE

GOLD SHOULD MOVE HIGHER AS IT BREAKS OUT OF THIS DOWN FLAG


VERY LIGHT VOLUME RIGHT NOW

DOLLAR DROPS TO .8057, GOLD PULLS BACK FURTHER, BUT WILL MOVE HIGHER LATER


GOLD CONSOLIDATING AROUND 940 BEFORE MOVING HIGHER


DOLLAR DROPS TO .8069

GOLD MOVING UP ON BUILDING VOLUME NEAR THE WHITE DOWNTREND LINE


DOW UP 160, EURO RISING STRONGLY


BONDS MOVE HIGHER, DOW UP 130, YEN MOVES HIGHER, EURO TURNS UP, DOLLAR AT .8094


Gold hits 1st 75% retrace point and turns up



Gold still being pressured ahead of the Crimex close.

GOLD GETTING PRESSURE AS WE NEAR THE CRIMEX CLOSE


BONDS, DOW, OIL ALL MOVING MUCH HIGHER


OIL UP ON NIGERIAN PIPELINE BLAST
GOLD RISE BEING FOUGHT EVERY INCH
OF THE WAY WHICH WILL MAKE THE SPIKE
MOVE EVEN HIGHER

DOLLAR DROPS HARD, BONDS, DOW, EURO, OIL ALL MOVE HIGHER




GOLD GETTING READY TO SPIKE
GOLD IS NOW CONSOLIDATING JUST
UNDER THE DAY'S HIGH AT 940 AND
SHOULD BREAK HIGHER AS THE DOLLAR DROPS
AND IS DOING SO ON LIGHT VOLUME AS I POST THIS

HOPEFULLY, GOLD WILL CONTINUE UP IN THE RED UPTREND CHANNEL AND BREAK OUT ABOVE THE BLUE DOWN FLAG


GOLD MOVES HIGHER ON LIGHT VOLUME



Bonds are consolidating at their highs
Dow has spiked up out of its consolidation, now up 92
Euro has moved higher
Dollar is slipping back from its 'artificially' induced high
Gold has hit the last 75% retrace point of the recent sell off
and will pull back a bit before going higher.
The later in the Crimex session we get, the less likely gold
will spike during the session. We will probably get a good rise
in afternoon trading if gold stays here during the day session.


GOLD DROPS TO YESTERDAY'S CLOSE PRICE AS THE PPT GOOSES THE DOLLAR TO .8111




This is a temporary manipulation by the PPT to keep
gold from skyrocketing. You can see it because the
Dollar 'gapped' higher...very unusual trading except
when the PPT steps in with a large dose of dollar buying.

Gold will now move up on dip buying...OR... build a ledge

and be driven lower.

GOLD RETRACES MORE THAN 50% OF THE LAST UP LEG, MAY DROP TO 93520 BEFORE MOVING UP TO NEW HIGHS


GOLD PULLS BACK 75% BEFORE MOVING HIGHER


Bonds reverse and go up
Dow stalling at the top of its rise, may go higher
Euro drops 75% of its last up leg, but is now turning up
Oil still moving up
Dollar continues to slip gradually

GOLD MOVES UP TO THE HIGH AT 940 ON 1000 CONTRACT VOLUME, WILL GO HIGHER VERY SOON


GOLD STARTS ITS MOVE HIGHER, COULD SPIKE UP TO THE NEXT 75% POINT AT 95070


Gold stops at the blue downtrend line and may find support
on the top line of the red downtrend channel that has
just been exceeded to the upside
Bonds have fallen precipitously
Euro is rising cautiously
Oil moving higher
Dow rising fast, now up 40
Dollar slipping off its high at .8120, currently at .8100

GOLD SHOULD RESOLVE HIGHER OUT OF THE RED DOWN TREND CHANNEL


GOLD MAY SPIKE SOON


Up volume is good here. A little pull back from the 75% point
is normal. Then gold 'may' move up to the highs and spike.
The Indicator markets are turning in favor of gold in the Euro,
Yen and Oil. Dow is down, Dollar is up, but should fall soon.
This market is traded on gut feeling and experience as other
markets are trading to frantically to rely upon for viable
indications of what will happen.
The Euro skyrocketing and the Dollar collapsing are two fairly
good indicators, but even then, the manipulation by the Crimex
and the guv'mint is profound and can't be discounted.
All you really have from here on is the conviction that gold will
go up in the long run and the Dollar will collapse along with most
other paper currencies

GOLD SHOULD RESOLVE UP OUT OF THE WHITE DOWN TREND CHANNEL