Friday, October 10, 2008
5:22AM PDST GOLD DRIVEN DOWN TO THE BOTTOM OF THE DOWN FLAG
The NY gold haters have bashed gold down to
where first support is showing up at a technical
buy in area. Gold has also retraced to the 61.8%
fib line. Buying should begin soon, as I can't see
gold collapsing for any reason.
Read Sinclair's current posting as his master
technician Kenny Adams is for sure telling him
exactly what gold is going to do. The guy is unbelievably
accurate.
4:47AM PDST GOLD IS WALKING UP THE BLUE TRENDLINE
Dollar is up at new recent highs, Euro is going down
Bonds are going down, Oil is down to prices we
saw last October 2007.
Nothing makes a lot of sense and can change on
a dime.
Gold is the only constant (cash gold) and even
the paper gold market can be manipulated as we
experience every day.
I just pray that the futures market doesn't go
bankrupt...It shouldn't, because everything is
marked to market every day and positions all evened out.
Paper contracts SHOULD match physicals available for delivery.
We shall see very soon what is real and what is not.
4:25AM PDST
I don't understand why gold has been trading
sideways on light volume at this level for so long,
but the shit is really going to start flying in the next
hour, so put on your haz mat suits and goggles,
cause it's going to get messy.
4:06AM PDST EARLY GOLD
Very light volumes, which is surprising to me.
I would have thought that gold would be rising
dramatically given all the panic talk all night.
It will be interesting to see if they are able to
suppress gold this morning. The shorts should
be terrified at this point.
Thursday, October 9, 2008
2:02PM PDST GOLD PAUSING HERE AFTER THE DOW CLOSE AND JUST BEFORE THE COMEX CLOSE
Notice that at this level, gold is making higher
lows, even though there is a potential H&S pattern
which resolves down.
The stock market has CRASHED and will continue
to fall. Bonds are falling, as they should.
Why the Euro sold off during the gold spike is not
clear to me, unless people are just fleeing all paper
currencies into gold.
The 3PM re-open of Comex gold in one hour will
tell us much. If it spikes higher, it going to explode
overnight until it gets near $1000, which is not that
big an obstacle now, having been crossed substantially
already...It's not foreign territory anymore...
Above it is...and gold will test all round numbers higher
than the old high at $1048
1:02 PM PDST THIS IS A NECESSARY LITTLE PULL BACK BEFORE GOLD MOVES HIGHER
Gold shouldn't pull back much from here.
This is just the greedy profit takers who don't
know how high gold is going. If they wait too
long to buy back in, they will have sold for nothing
and then be out of the market and will probably
buy in just before the next pull back and get burned.
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