Tuesday, October 6, 2009

GOLD TURNED BACK AT THE WHITE TOP DOWNTREND CHANNEL LINE FOR NOW, WON'T HOLD FOR LONG


GOLD WILL PROBABLY MOVE UP A BIT JUST BEFORE THE 2:15PM PDST AFTERNOON GOLD CLOSE
THEN MOVE HIGHER WENT GOLD REOPENS AT 3PM PDST
THIS IS A BAD TIME OF THE DAY TO PUT ON A CONTRACT AS IT WOULD BE LOGGED IN
AS EFFECTIVE TODAY INSTEAD OF TOMORROW AND GIVES YOU LESS TIME TO REACT IN CASE
THE POSITION MOVES AGAINST YOU IN TERMS OF MARGIN MONEY.
IF YOU PUT THE POSITION ON AFTER 3PM PDST YOU HAVE ONE EXTRA DAY TO GET OUT OF
A BAD POSITION.