Wednesday, August 12, 2009
AFTER THE FOMC REPORT GOLD MOVES LOWER, THEN RALLIES 75%, NOW THE PULL BACK
Dollar rises to .7935 on FOMC report but is now slipping
back, currently at .7916
Euro fell, then rallied
Dow up 180 currently
Gold slipping lower
Bonds chopping sideways after moving lower
BLOGGER IS A PAIN IN THE ASS
I am fed up with Blogger for posting my charts.
It is riddled with errors you can't fix even after
searching for hours on their site for how to do anything.
I may not be posting for some time as this is a complete
waste of my time and now cutting into my trading.
I will post in text what progress I am making in finding
another site to post on that has less problems and errors.
Sorry for the down time, but I am limited by Blogger's
incompetent blog site. I am not the only one who has
discovered this.
It is riddled with errors you can't fix even after
searching for hours on their site for how to do anything.
I may not be posting for some time as this is a complete
waste of my time and now cutting into my trading.
I will post in text what progress I am making in finding
another site to post on that has less problems and errors.
Sorry for the down time, but I am limited by Blogger's
incompetent blog site. I am not the only one who has
discovered this.
FINALLY, BLOGGER LETS ME POST A CHART
Gold is pulling back after the up spike and the red down
flag resolves up, but we're getting close to the Crimex close
and the FOMC meeting report will come out 45 minutes after
the close and all hell ought to break loose in gold and other
financial markets for the few minutes after the report is
made available. Trading the action after the report can be
very profitable, or disastrous as the action can be very volatile
and enormous swings happen in just seconds, so be very
wary of placing market orders. Use limit orders only placed
at very strategic buy points much lower than you think possible.
BLOGGER IS NOT LETTING ME POST CHARTS RIGHT NOW
If I can fix the problem, I will post more today.
I am planning on creating COMPLETELY NEW BLOGS
here on Blogger because the ones I have now are causing me
too many problems with posting and errors.
Maybe creating new ones will eliminate the problems by
starting over fresh with new ones.
If not I will find another site where I can publish my blogs.
Any suggestions for FREE blog sites is welcomed.
I am planning on creating COMPLETELY NEW BLOGS
here on Blogger because the ones I have now are causing me
too many problems with posting and errors.
Maybe creating new ones will eliminate the problems by
starting over fresh with new ones.
If not I will find another site where I can publish my blogs.
Any suggestions for FREE blog sites is welcomed.
GOLD SPIKES ABOVE THE 75% RETRACE POINT AT 95360 TO 95440 ON STRONG VOLUME
Gold should pull back before moving higher
Blogger is not letting me post charts more current than this one
for some reason.
GOLD FALLS SUDDENLY, BUT RALLIES IMMEDIATELY, A VERY UNCERTAIN MARKET TO TRADE
Volumes are very erratic in size. A few minutes of strength
fall off to next to nothing. Very risky to trade and hold on
to your position. Take all profits IMMEDIATELY no matter
how large or small.
GOLD MOVES BACK UP AFTER THE PULL BACK
Bonds fall further
Dow up 127, an new high
Oil turns back up
Yen falling
Euro turns up near its high
GOLD PULLS BACK BEYOND THE 1ST 75% RETRACE POINT
Indicator markets are reversing NOT supportive of gold
for the moment
Dow tops at about up 110 points and turns down
Bonds down
Euro turns down
Oil pulls back
Dollar low at .7895, currently at .7899
TWO TEST OF 951 AND A PULL BACK TO THE YELLOW DOWNTREND TOP LINE FOR SUPPORT
Volume is waning and becoming a bit erratic
THE NEXT HIGHER RETRACE POINT AT 95360, BUT FIRST THE 95190 TOP NEEDS TO BE EXCEEDED
At least gold is moving again
GOLD RETESTS THE HIGH AND MOVES HIGHER ON
AND QUICKLY PULLS BACK finding some support
at the top yellow downtrend line for now
NOW A PULLBACK?
Dollar is slipping from its highs, currently at .79125
Bonds and Yen falling
Dow up 100, Oil up, Euro climbing
GOLD RETRACES TO THE 75% POINT AT 94940 AND THE YELLOW DOWNTREND LINE
Volumes are erratic buy bordering on moderate.
Some of this could be short covering to take the
profits they have manipulated so far. This has
been three days of very unusual trading for gold
but when the FOMC report comes out today at
11:15am pdst, the market may/should go crazy
for a few minutes after the report hits the wires.
GT COMMENTS
In recent days the economic situation has finally triggered the populace to voice its anger
over what our 'leaders' have done to us all.
The sad part is that those who are blessed to have access to our TV media don't have a clue
why the people are mad and becoming violent.
Chris Matthews, yesterday, interviewed the fellow who carried a loaded side arm (legally in his state) outside O'bomba's town meeting.
He grilled the man in such an authoritarian manner, with the implication that the man was a nut, that I would have thought Chris was our 'National Prosecutor' of all things unAmerican.
The man held his ground, despite the unfamiliar territory before the lights and cameras and was
informed enough to counter all Matthew's prosecutorial thrusts with his limp sword of indignation at a citizen who dared to own his Constitutional, legal right to have, carry, and use a weapon as well as voice his complaint of how our country is being pushed into the ditch by people who have the real weapons that they use to keep the population in line, seat belted up, driving the correct speed and eating the right foods and disciplining their children properly.
None of our TV commentators realizes that the problem is that the MEDIUM OF EXCHANGE is being destroyed, which destroys the populace's ability to conduct TRANSACTIONS among themselves, which is what our commerce really is, the accumulation of all our transactions.
When you destroy the medium of exchange (the blood system of an economy) you kill the economy (patient) and drive the system into anarchy.
Those in power only care about retaining that power and the benefits that come with it.
They will use the weapons they have accumulated with the money they have stolen from the populace through taxation, fines, and inflation to keep that very population under control, or they will eliminate those who they can't control, and that DOESN'T mean locking them up in prison cells, as California has recently found out they can't afford to do.
IT MEANS KILLING THEM!
They will eventually use the youngsters in the military that they have trained to be killers and who they have mentally crippled in our phoney wars and brought back home to go nuts on us.
These kids could care less about shooting a stranger...they've already done it many times.
The change of clothing won't matter to them. They just like seeing bodies explode.
Be very aware that you are now walking in Human Country (like the warning signs that warn you when you're in Bear Country) and you won't know which ones are on their last nerve and could explode on you in a fit of insanity brought about by desperation and their inability to do anything about it while those who 'should' be able to help try ineffectually to calm them with soothing words that 'everything will be okay'.
Yeah? Bullshit!
Stay on your toes and keep your eyes doing a 360 degree swivel at all times and when you think you are safe, be doubly on guard, because that's when you are the most vulnerable.
over what our 'leaders' have done to us all.
The sad part is that those who are blessed to have access to our TV media don't have a clue
why the people are mad and becoming violent.
Chris Matthews, yesterday, interviewed the fellow who carried a loaded side arm (legally in his state) outside O'bomba's town meeting.
He grilled the man in such an authoritarian manner, with the implication that the man was a nut, that I would have thought Chris was our 'National Prosecutor' of all things unAmerican.
The man held his ground, despite the unfamiliar territory before the lights and cameras and was
informed enough to counter all Matthew's prosecutorial thrusts with his limp sword of indignation at a citizen who dared to own his Constitutional, legal right to have, carry, and use a weapon as well as voice his complaint of how our country is being pushed into the ditch by people who have the real weapons that they use to keep the population in line, seat belted up, driving the correct speed and eating the right foods and disciplining their children properly.
None of our TV commentators realizes that the problem is that the MEDIUM OF EXCHANGE is being destroyed, which destroys the populace's ability to conduct TRANSACTIONS among themselves, which is what our commerce really is, the accumulation of all our transactions.
When you destroy the medium of exchange (the blood system of an economy) you kill the economy (patient) and drive the system into anarchy.
Those in power only care about retaining that power and the benefits that come with it.
They will use the weapons they have accumulated with the money they have stolen from the populace through taxation, fines, and inflation to keep that very population under control, or they will eliminate those who they can't control, and that DOESN'T mean locking them up in prison cells, as California has recently found out they can't afford to do.
IT MEANS KILLING THEM!
They will eventually use the youngsters in the military that they have trained to be killers and who they have mentally crippled in our phoney wars and brought back home to go nuts on us.
These kids could care less about shooting a stranger...they've already done it many times.
The change of clothing won't matter to them. They just like seeing bodies explode.
Be very aware that you are now walking in Human Country (like the warning signs that warn you when you're in Bear Country) and you won't know which ones are on their last nerve and could explode on you in a fit of insanity brought about by desperation and their inability to do anything about it while those who 'should' be able to help try ineffectually to calm them with soothing words that 'everything will be okay'.
Yeah? Bullshit!
Stay on your toes and keep your eyes doing a 360 degree swivel at all times and when you think you are safe, be doubly on guard, because that's when you are the most vulnerable.
THE MAJOR BLACK UPTREND CHANNEL
The lower black uptrend line ignores the low
at 7096 because drawing the line through that
point would tilt the uptrend line down much too
severely. However, the RED uptrend line includes
that point and is also valid as gold 'could' drop to it.
I am of the opinion that gold is under pressure from
a concerted plan by the 'manipulators' to drive it WAAAAY
down so they can profit from the short AND accumulate
all the gold they can before they allow gold to skyrocket
to where it 'should' be given the flood of paper money
in which it is traded which is becoming worth less and less
as more of it is created and pumped into circulation
ultimately causing a hyper inflation the world has never
seen before.
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