Tuesday, October 13, 2009
GOLD IS TOO HIGH TO NOT PULL BACK NOW
DOLLAR IS NOT FALLING MUCH
ONLY EURO, YEN AND OIL HAVE MOVED UP STRONGLY AND ARE NOW TOPPING
STOCKS LAGGED ON THE RUN UP
BONDS HAVE BEEN FLAT BUT ARE NOW RISING
WE ARE TOO CLOSE TO THE CRIMEX OPEN TO CHASE GOLD HIGHER
WHEN IT WILL BE BEAT DOWN SOON AHEAD OF THE CRIMEX SESSION
Monday, October 12, 2009
DOLLAR MOVING LOWER, GOLD RESPECTING THE PURPLE UPTREND LINE SOMEWHAT
WE WON'T KNOW WHAT GOLD IS GOING TO DO UNTIL LATER THIS EVENING NEARING MIDNIGHT PDST
AS LONG AS GOLD TRADES IN AT LEAST A $2 TRADING RANGE, YOU CAN MAKE SOME MONEY IF
YOU BUY THE 75% RETRACEMENT POINTS AND SELL THEM BACK ON THE RETRACEMENT BACK UP
AS SOON AS GOLD STALLS. LOTS OF SMALL PROFITS ADD UP, BUT YOU HAVE TO BE FAST
IN TAKING THE PROFITS. HOLDING OUT FOR LARGE MOVES IS A LOSER'S PLAN AS YOU WILL
RARELY SEE THEM COMING, AND WILL NOT TAKE YOUR PROFITS QUICKLY ENOUGH BECAUSE YOU
THINK YOU CAN MAKE A LITTLE MORE. INSTEAD, THE MOVE REVERSES QUICKLY AND YOU THEN
GRIEVE BECAUSE YOU THINK YOU WERE ENTITLED TO THE PREVIOUS LARGER PROFIT YOU DID NOT
TAKE WHEN YOU HAD IT. THE POSITION QUICKLY UNRAVELS AND YOU ARE IN LOSS TERRITORY SO
YOU TAKE THE LOSS BECAUSE YOU ARE AFRAID IT WILL GET WORSE. THAT'S HOW YOU CHEW UP
YOUR TRADING ACCOUNT AND DO BECOME A LOSER.
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