Monday, September 7, 2009

GOLD WILL PROBABLY RETRACE AT 999


GOLD HITS THE 1ST 75% RETRACE POINT


GOLD STARTS BACK UP


POSSIBLE RETRACEMENT POINTS ON THE WAY BACK UP


NEXT LOWER 75% RETRACE POINT IS AT 99580




GOLD RETRACES DOWN TO THE 75% POINT AT 99710


LOTS OF SELLERS AT 1000


Sellers REQUIRE buyers which makes gold move
higher if the sells are filled.

GOLD HITS $1000 THEN PULLS BACK ON LIGHT VOLUME




The white down flag resolves up, but this is a

tricky time of day to think gold will move up

strongly. It could be a good opportunity though, during

light holiday trading, for major players to sneak

into gold before it skyrockets higher.

HAD PASSWORD TROUBLE LOGGING INTO BLOGGER

REMEMBER...ONLY BUY GOLD ON WEAKNESS, SELL ON STRENGTH

THIS IS A CARDINAL RULE...

UNLESS YOU WANT TO KEEP BUYING THE TOPS

GOLD BREAKS ABOVE THE WHITE TRADING RANGE, EXEEDS THE BLACK MAJOR DOWNTREND LINE


LOTS OF SELLERS UP TO 1000, BUT GOLD
COULD BLAST RIGHT THROUGH THEM.
999.50 IS THE PREVIOUS HIGH TO EXCEED

GOLD MAY BE GETTING READY TO MOVE HIGHER


GOLD CONTINUES TO CHOP IN MONDAY EVENING TRADING


LOOKS LIKE GOLD CLOSED AT 10:15AM PDST, SHOULD REOPEN AT 3PM PDST



GOLD BEING 'CAPPED' AT 998 WITH A BREAK OUT AND QUICK SELL OFF



GOLD TESTS THE HIGHS AGAIN, COULD BREAK OUT HIGHER, OR JUST KEEP CHOPPING SIDEWAYS UNTIL LATER TONIGHT














Sunday, September 6, 2009









GOLD CHOPPING SIDEWAYS




GOLD MOVES LOWER THEN SNAPS BACK UP ALL ON VERY LIGHT VOLUME




GOLD MOVES UP TO THE 75% POINT, MAY GO HIGHER


GOLD FALLS A LITTLE, BUT NO BIG DEAL FOR NOW


GOLD MOVES UP A LITTLE, BUT FADES BACK


NEW BLUE UPTREND CHANNEL LINES DRAWN, GOLD HEADS BACK UP


GOLD PULLS BACK TO THE 1ST 75% POINT, MAY GO BACK UP NOW


Data on the dollar is not available right now.
Euro is rising slightly
Oil is making some little up moves
Stocks trending down gradually
Bonds also trending down
Yen not doing much
These markets could all be fairly quiet during
OUR Labor Day Holiday, but remember, it's
NOT a holiday for other countries, even though
our markets are the largest and most traded.

GOLD MOVES A LITTLE HIGHER


GOLD PULL BACK IS SHALLOW, THEN MOVES UP AGAIN


Trading volume is light, but not unusually light
for a holiday weekend. We may see some good
movement as the G20 meeting produced nothing
constructive, as expected. People are beginning to
see the collapse coming and should start moving
into gold along with the various funds that must
be moving in now to have made gold rise so well
recently.

GOLD HITS THE 75% POINT, MAY GO HIGHER


And another 75% point is exceeded



SUNDAY EVENING GOLD IS TRADING, SHOULD GO THROUGH LABOR DAY MONDAY