Monday, May 4, 2009
GOLD RISES A PINCH AT THE CRIMEX CLOSE, NOW INCHING UP A BIT MORE IN ELECTRONIC TRADING
Dollar slipping a bit from .8415, the high after
hitting they day's low at .8381, currently at .84065
Dow moving back up a bit, up 160
Euro moving up a bit after rising earlier, then taking
it all back, then rallying all the way back up to their highs,
and now pulling back about 50% of the last rally
Dan Norcini should have some comments on bonds today.
Oil going sideways at its highs
Bonds off their highs a bit
Weird, weird trading day
TEN MINUTES TO GO IN THE CRIMEX SESSION AND GOLD IS STILL DESCENDING SLIGHTLY WITHIN THE DOWN FLAG
Should be interesting to see what happens
after the Crimex close.
DOLLAR COLLAPSING. DOWN TO .8381
Gold rising cautiously on moderate volume (256 contracts for 2 minutes)
despite the dollar's precipitous fall, but falls back on lighter volume after
hitting 9064, one tick above the previous high and after breaking
above the white down flag.
Truly crazy trading going on.
Lots of fingers in the pie today trying to force things in their favor.
Too bad for the manipulatores that Mother Nature and the gods of economics will have the
final say in this matter.
GOLD DIPS LOWER ON 276 CONTRACTS, IS GOLD GOING LOWER NOW?
Dow and Oil turn down a bit
Dollar drops to .84035 but bounces to .8422
then drops back to .8416 currently
GOLD STILL SLIPPING WITHIN THE DOWN FLAG, BUT FOR HOW LONG?
Bonds moving up strongly
Oil, Euro, Yen all higher but consolidating at
their highs
Dow rounding over...up around 15o after being
higher at around up 175
Dollar falls again after its weak bounce to .8428,
currently at .8412, another new low.
Could the dollar collapse today?
The O'bominator is now speaking about changing
tax rules to keep corporations from avoiding taxes.
Wonder what this will do to equities?
GOLD TRENDS LOWER WITHIN THE DOWN FLAG
Bonds rising
Dow topping, currently up 140
Euro turning down
Yen rising
Oil falling
Dollar bottoms at .8428 and rises to .8441
Gold may very well fall from here
GOLD FORMS THE USUAL DOWN FLAG WHICH COULD RESOLVE UP, BUT I THINK GOLD WILL MOVE DOWN BEFORE MOVING HIGHER
Gold will trade up and down within the down flag
and then either collapse, or spike higher.
Hard to tell right now which direction seems
more likely
How many times do we see these up spikes,
only to see it all taken back from profit taking
and manipulation at the Crimex.
Although, this time the Dollar is in a state of collapse
right after the obvious PPT boost this morning, and
Oil and the Euro rising well.
A rising Dow could help drag gold up, but I think is
less relevant than Oil, the Euro and the Dollar's actions.
Getting very crazy, isn't it, folks? You ain't seen nuttin' yet!
POSSIBLE RETRACEMENT POINTS FOR GOLD TO PULL BACK TO AS VOLUME GOES LIGHT AFTER THE SPIKE
Bonds falling massively
Dow up 133
Euro still rising
Oil still rising
Yen down a bit
Dollar collapses to .8437 after its big run up earlier
GOLD MOVES BACK UP TO MAKE A SLIGHTLY HIGHER HIGH, AND PULLS BACK, A TOPPING MOVE, NOW GOLD FALLS?
Gold tests the blue downtrend line twice and
stalls. Will probably retrace on profit taking,
but could consolidate here and move higher.
No news of the reason for the spike yet as
things are moving too fast to post and analyze
at the same time.
Bonds falling greatly
Euro rising
Down rising
Oil rises but is topping
Dollar falls to .8455
GOLD MOVES HIGHER ON VERY STRONG VOLUME AND NEARS THE NEXT 75% POINT AT 90980 JUST ABOVE THE BLUE DOWNTREND LINE
Shorts must have panicked when they couldn't
move gold lower.
Now, will gold pull back on massive profit taking?
DOLLAR FALLS TO .8472
Gold rises to the blue top line of the down flag
Will probably retrace, and may even be beaten
down lower for lack of buyers to move it higher
Oil rises fast
Euro rising in stair steps
Dow up 40
Gold rises on two minutes of under 200 contracts
then falls back to light volume
Bonds moving down
GOLD STARTS TO DROP, STOPS AT THE BLUE BOTTOM LINE OF THE DOWN FLAG AND RALLIES ON LIGHT VOLUME
Gold is going much lower.
Dollar falls from the high at .8503 to .84875 currently
Euro attempts to rise but hooks over
Dow up 25 or so
Bonds rising in a jagged manner
Very complicated markets to be able to determine
a direction for any of them, let alone gold.
All in all, I think gold is going lower due to the shorts
wanting to cover and then buy in at the bottom in
CASH GOLD for the long term collapse
GOLD TRADING WILDLY NOW (not shown here)
Gold moving up and down each minute in a $2
range in wild trading. Nothing over 100 contracts
per minute in the last 8 minutes.
DOLLAR RISES TO .8503 AND GOLD DROPS
Gold rose well over night and began falling at
1:00am pdst and has been falling since. The
Dollar rose dramatically to .8503.
Euro dropped taking out the previous low, but
not quite to the one previous to that.
I'm a little behind due problems with my REAL
TIME data. Had to call Israel to get it fixed. Got
it now but it took time to fix
Sunday, May 3, 2009
GOLD MAKES A BIG MOVE ON LESS THAN 700 CONTRACTS
Dollar drops to .8438
This gold move will probably pull back before
going higher, IF...it does go higher tonight.
I don't have my real time prices for my Indicator
Markets tonight as the server won't connect
THE BLUE INTERMEDIATE DOWN FLAG RESOLVES UP, POSSIBLE DOWN 75% RETRACEMENT OF ENTIRE INTERMEDIATE UP MOVE TO 85630
Always read Dan Norcini's daily comments on
JSMINESET.COM along with Jim Sinclair's
comments. This is where you get TRUTH, FACTS
AND QUALITY ADVICE.
Situation is growing more critical by the minute.
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