Monday, November 16, 2009

GOLD PULLS BACK AHEAD OF THE CRIMEX OPEN AFTER A SUBSTANTIAL UP MOVE


I AM EXPECTING A FURTHER GRADUAL MOVE LOWER,
& A SMALL RALLY JUST BEFORE THE CRIMEX OPEN.
GOLD COULD RALLY QUICKLY ON THE OPEN, BUT ANY
RALLY SHOULD BE QUICKLY SOLD OFF AS USUAL.
DOLLAR INTERVENTION SHOULD BE EXPECTED WHICH
WOULD DRAG ON GOLD (MAYBE!) BUT BULLION BANK
SELLING SHOULD KNOCK GOLD DOWN ONLY TEMPORARILY.
THIS TACTIC IS BECOMING LESS AND LESS EFFECTIVE AND GOLD
COULD JUST KEEP GOING UP WITH MINOR PULLBACKS FROM NOW ON
TRADING GOLD IS NOW ONLY FOR THE MOST COURAGEOUS,
OR THE MOST INSANE.