Thursday, July 23, 2009
THE DOW HAS A GOOD DAY THEN FALLS OFF AT THE END
THOSE WHO BOUGHT STOCKS TODAY WERE
THE GREATER FOOLS ALL THE HOLDERS OF STOCKS
WERE LOOKING FOR TO SELL TO AT THE TOP
BONDS FELL AND STAYED DOWN
THIS IS THE BIG FACTOR IN THE DESTRUCTION OF
THE ECONOMY AS BONDS DETERMINE INTEREST RATES
WHICH DETERMINE CAPITAL INVESTMENT WHICH DETERMINES
THE LEVEL OF BUSINESS DEVELOPMENT.
WITHOUT BUSINESS DEVELOPMENT...
THERE IS NO RECOVERY!
GOLD OPENS UP AS EVENING TRADING BEGINS
I bought the bottom price in October gold on the opening
with a Limit order at 94850 placed before the market
even opened I am so confident that gold will rise from here
tonight, even if I don't catch the exact bottom price or it
slips from here.
The Dollar's rise this afternoon is so obviously the result
of PPT intervention to prevent the dollar from collapsing,
it is like a cream pie in the face. The dollar will be lower by
tomorrow.
GOLD CONSOLIDATING HERE, WILL EITHER MOVE HIGHER OR SELL OFF HARD BEFORE THE CRIMEX CLOSE
Euro is falling, but Dollar is a mess down on its new lows
Oil moving higher, Dow starting to round over
NEW RED DOWN FLAG DRAWN, GOLD MAY SPIKE OUT OF THE DOWN FLAG AFTER IT PULLS BACK LOWER WITHIN IT
Gold acting very strong as the dollar shows it profound
weakness. The strong Dow may pull gold higher too.
GOLD MAY PULL BACK TO 95090 (75%) WHERE IT RUNS INTO THE CONGESTION AND SUPPORT OF THE PREVIOUS TOP JUST EXCEEDED
The Indicator markets appear to be reversing and falling
Dollar is still falling
Gold is rallying a bit on light volume, but will probably
go lower, as above.
GOLD NOT RALLYING WELL AT ALL, WILL VERY LIKELY DROP LOWER, HAS VIOLATED THE PURPLE UPTREND CHANNEL LOWER LINE
Dollar did get a bump up to .7895. The low is at .7869
Euro dropped
Oil down
Dow trimmed its gains to only up 10 right now
Bonds pulled back
Very weird market today
Just wait for the final low, wait for it to show some base building
and buy in carefully in October gold with good margin and hold on
for the overnight rise, but take any good profits while you have them
if they happen sooner. Don't let this market take anything back.
You have only seconds to decide.
BIG DROP IN GOLD ON STRONG VOLUME, RALLY WILL FAIL AND RETEST THE LOW OR LOWER
Dollar is slipping lower so far on my delayed charts, but
could have risen.
All the Indicator markets are down fairly strongly for now
969 COULD BE THE HEAD OF AN INVERSE H&S PATTERN YET TO DEVELOP ITS RIGHT SHOULDER, RESOLVES DOWN
I don't think this will happen, but I've been screwed many
times in the last five years putting my faith in Sinclair
predictions, even though I think this time he's right.
The BIG QUESTION is WHEN gold is going to take off.
It usually happens after the summer, in NORMAL times.
Times are NOT normal anymore and we are running out of
time, money and jobs to keep this economy from imploding.
GOLD TRADING AFTER THE JOBS REPORT
Jobless claims go up by 30,000 to 554,000 (what the
guv'mint is willing to report!), so gold goes up, then right
back down as the Crimex shorts pound any rally into the dirt.
This is the 'thrashing around' part of the open. Let it all
settle down before taking any position. This is all happening
on very light volume and roll overs into October gold only
complicate things even more.
T BONDS IN A LONG DOWN FLAG WHICH USUALLY RESOLVES UP
HOWEVER, THE BOND MARKET IS HEADED FOR A
COLLAPSE. IT IS NOT WORTH TRADING. JUST USE
IT AS AN INDICATOR MARKET TO LET YOU KNOW
WHERE INTEREST RATES ARE HEADED AS A TIP
ON WHERE GOLD WILL MOVE IN RELATION TO
WHAT INTEREST RATES ARE DOING.
HIGH INTEREST RATES ARE NO GOOD FOR THE ECONOMY.
A BAD ECONOMY WILL MAKE GOLD MOVE HIGHER AS
PEOPLE BUY IT AS A SAFE HAVEN.
OIL MOVES DOWN, EURO TURNING UP, DOLLAR RISING A BIT, BONDS RISING , DOW UP 40
The headline comments refer only to the shortest of trends,
meaning one minute to five minute movements which
tell me where markets seem to be heading for the moment.
Things change in a flash and I report them as fast as possible.
GOLD AT 5AM PDST
Gold may have an initial rally which will be sold off
immediately. Then it will thrash around until the reports
come out on the half hour.
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