Thursday, August 6, 2009
2:15PM PDST AFTERNOON GOLD CLOSE
A larger view for perspective. Gold has made
some volatile moves, but is in the same area
as three days ago. Yet it has attained a higher
high which is pushing it higher.
BONDS RISING, DOW DOWN 30 POINTS, DOLLAR HIGHER
The red up flag resolves down
Gold will probably being moving lower, although
it is acting contrary to what other markets are
indicating it should be doing...but what's new?
GOLD IS IN A TRADING RANGE THAT MUST BREAK OUT UP OR DOWN
Even though gold is acting very strong right now,
I'm feeling a drop coming.
BONDS FALLING, OIL PULLS BACK, DOLLAR HIGHER, EURO STILL MOVING HIGHER
GOLD STARTING TO FALL FASTER
drops to the 1st 75% retrace point and bounces
on moderate volume. Not a lot of buyers showing
up yet
YEN FALLING, EURO RISING, BONDS FALLING, DOLLAR STILL UP
GOLD MOVES A BIT HIGHER ON MODERATE
VOLUME, THEN PULLS BACK AND STARTS
TO FALL
DOW UP 55, OIL MOVING UP, EURO SHOWING SIGNS OF MOVING HIGHER, DOLLAR STILL UP A BIT
Gold has retested the high and pulled back to
consolidate here. It could move higher or collapse
I'm not buying the top of anything as I almost
always screw myself when I do.
As Sinclair tells us, only buy weakness and sell
strength in gold
GOLD MOVES HIGHER TO A NEW HIGH ON STRONG VOLUME ON THE CRIMEX OPEN
Bonds falling, but the other markets are barely
moving
Dollar up some at .7794
I have to suspect gold is going to pull back from here
but it should have already done so on profit taking
at the least. A good deal of the up move had to be
from short covering.
I'm not seeing in large sell positions, or buy positions,
in my real time data.
Most of the large orders are placed outside of the data
available to us regular traders.
BEFORE THE CRIMEX OPEN IN 5 MINUTES
Gold needs to pull back after such a large up move
as well as coming into the Crimex Gold Bashing session
But...the red down flag resolves up!
Can gold take off from here?
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