Friday, July 31, 2009
THE INDICATOR MARKETS HAVE ALL REVERSED TO NON- SUPPORTIVE OF GOLD
Gold is falling below the 1st 75% retrace point
GOLD COULD EITHER CONSOLIDATE HERE IN A LITTLE DOWN FLAG, OR TAKE IT ALL BACK BEFORE MOVING HIGHER
This was a big move after the morning sell off
so traders may grab what they have before they
lose, it causing a big pull back
YEAH BABY!
You just have to keep your cool in this game and
rely on your experience, intuition and GUTS!
WHAT DID I TELL YOU? GOLD REGAINS ITS SENSES
The Indicator markets are all turning around now
and becoming supportive of gold. Gold may be on
its way to a new high today but has to break through
the resistance in the 940 area and close above it
GOLD ACTING AS EXPECTED, MOVING HIGHER ON LIGHT VOLUME WHICH SHOULD BUILD ON THE WAY UP
Bonds rose, consolidated, and now moved higher
Dow dropped strongly, and are building a bottom
or a ledge to fall from
Yen up strongly
Euro down but not to badly
Oil dropped and is bottoming for now
Dollar plunged momentarily then rally, no doubt
with PPT frantic intervention to prevent a total
collapse
GOLD RALLIES TO THE 1ST 75% RETRACE POINT ON GOOD VOLUME
Gold also finds the expected resistance at the
bottom white uptrend line of the uptrend channel
just violated. A shallow pull back, and higher we go.
Not nearly as much strength as I would hope to see
this morning, but the shorts have turned us all into
short term minute to minute traders. We're not even
'day' traders anymore due to all the manipulation.
GOLD STALLS ON THE FIRST LEG UP, NOW THE PULLBACK AND THE SECOND LEG HIGHER
The Indicator markets are all non-supportive
of gold right now, but that will change any moment
now.
A SHAKEY START TO THE RALLY, BUT IT BEGINS
Volume is light/moderate, there may be a pull back
and a second leg up, unless buyers realize that gold
didn't sell off that much and all pile in. Then, gold
should spike higher
THE SHORTS WIN THE FIRST ROUND, AS USUAL, BUT THE VOLUME GOES LIGHT AFTER THE CHICKENS BAIL OUT
The rally is coming any time now
ALL MARKETS THRASH WILDLY ON GDP REPORT (LESS WORSE THAN EXPECTED!)
Any moment now, gold will regain its senses
and rally
POSSIBLE RETRACEMENT POINTS ON THE WAY UP
Gold buyers are such a bunch of pussies.
If they had any balls they could annihilate the
manipulating shorts in one session.
LIGHT VOLUME ON THIS OPENING PRESSURE, GET READY FOR A STRONG RALLY
And an extra whack on moderate volume down
to the 100% point plus a tick, now the rally.
This is classic action. I've seen this a million times.
Down to the white uptrend line and the 75%
retracement area.
SHORTS PRESSING ON THE MARKET BEFORE THE OPEN
shorts are probably very worried about selling
and have the market spike on them. The bullion
banks will have to sell in a big way to get the
desired reaction.
I'M LOOKING FOR GOLD TO HIT THE 75% RETRACE POINT AT 94870
Gold should start moving any minute now and
will retrace whichever direction it moves very
quickly then thrash around a good bit.
Take profits on any spike up as quickly as you
can send the order. Preferably have a REASONABLE
limit sell order placed already and be happy with
what you get. Market orders can go horribly wrong.
GOLD VERY RELUCTANT TO FALL SO FAR
The gold shorts may get a big surprise this
morning, although they will throw everything
they have at gold to keep it from rising
THE CRIMEX BOYZ GO TO WORK BEFORE THE OPEN TO SHAKE TRADERS' CONFIDENCE
Early sales on very light volume to shake up
the market because inexperienced traders are
ready to buy in at the top (and get screwed!)
which is why you only buy in on dips.
POSSIBLE RETRACEMENT POINTS IF GOLD GOES DOWN
Gold could easily spike up any moment before
the Crimex open. If not soon, then the open
should be very violent, but end up higher today
GOLD ROSE WELL OVER NIGHT WITH ONE SUBSTANTIAL PULL BACK AND RE-RALLY
Euro up well
Yen down
Dollar down trending again until the next
PPT intervention
Gold ready to make new highs today
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