Thursday, November 26, 2009
STOCKS DOWN 200 POINTS ON DUBAI SITUATION, DOLLAR SPIKES UP, EURO FALLING
HOURLY S&P 500 CHART
15 MINUTE DOLLAR CHART
GOLD BREAKS OUT OF THE THIN WHITE DOWNTREND CHANNEL AND NOW IS PULLING BACK, WILL PROBABLY MOVE UP FURTHER AFTER THE PULLBACK
THE BLUE UPTREND CHANNEL MAY BE IN CONTROL
WITHIN THE LARGER MORE DOMINANT YELLOW
UPTREND CHANNEL
GOLD HITS THE 1ST RETRACE POINT
GOLD RALLIES A BIT BUT FALLS LOWER.
I THINK IT WILL GO TO THE YELLOW UPTREND LINE
BEFORE RALLYING FOR REAL
A NORMAL RETRACE WOULD BE TO THE 1ST POINT SHOWN AT 1186.60, THE NEXT IS AT 1184.60, I'M BETTNG ON THE YELLOW UPTREND LINE
GIVEN THE VOLATILITY OF THIS MARKET, I WANT
THE LOWEST BUY IN I CAN GET.
I KNOW GOLD IS GOING TO GO HIGHER, SO I DON'T
WANT TO BUY IN ANY HIGHER THAN NECESSARY
AS IT IS MOVING UP AND DOWN SO MUCH, I DON'T WANT
TO GET UPSIDE DOWN ANY MORE THAN IS ACCEPTABLE
ON ANY POSITION.
YOU ALMOST NEVER GET THE BOTTOM PRICE, SO YOU
JUST WANT TO GET CLOSE TO THE BOTTOM ON YOUR
BUY IN
GOLD RETRACE BACK UP 61.8%, NOW FALLING AGAIN
THE DUBAI SITUATION SHOULD BE STUDIED. IT
SHOULD MAKE GOLD GO UP AS IT IS JUST ONE MORE
NAIL IN THE DOLLAR'S COFFIN, BUT WHO KNOWS
ANYMORE HOW THESE MARKETS WILL REACT IN THE
SHORT TERM?
GLOBEX CLOSED AT 10:15AM PST FOR HOLIDAY
GLOBEX RE-OPENS TODAY AT 3PM PST AND CONTINUES
THROUGH FRIDAY UNTIL 10:15AM PST FOR AN EARLY
HOLIDAY CLOSE FOR THE WEEKEND
THEN RE-OPENS SUNDAY AT 3PM PST
POSSIBLE RETRACE POINTS BACK DOWN
GOLD CONTINUES ITS STRONG RALLY RIGHT INTO
THE EARLY CLOSE ON GLOBEX AT 10:15AM PST
DOW DOWN 200 POINTS, OIL, EURO DOWN, GOLD SLIPPING
NO DOLLAR CHARTS TODAY DUE TO HOLIDAY
MARKETS ARE TRADING ELECTRONICALLY AND
ARE THIN, BUT GOLD COULD RISE STRONGLY IF
IT HITS A LOW THAT BUYERS LIKE.
Wednesday, November 25, 2009
GOLD COULD BLOW RIGHT PAST $1200 TONIGHT OR OVER THE NEXT TRADING DAYS OF THE FOUR DAY HOLIDAY AS GOLD WILL TRADE UNTIL FRIDAY AFTERNOON
ANOTHER NEW HIGH
SINCLAIR SAYS $1650 IS COMING SOON.
IT WON'T BE IMMEDIATE, BUT I CAN SEE GOLD
CONTINUING TO RISE WITHOUT MUCH PULL BACK
AS IT MOVES INTO PANIC BUYING, WHICH WILL MAKE
IT TRADE FRENETICALLY IN PRICE MOVES THAT WILL
BOGGLE YOUR MIND
DECEMBER 2009 GOLD OPEN INTEREST = 94 K
FEBRUARY 2010 GOLD IS FACTUALLY NOW
THE NEW FRONT MONTH AND SHOULD BE THE
CONTRACT YOU TRADE AS ALL THE ACTION HAS
JUST MOVED INTO THE FEB 2010 CONTRACT WHICH
INCREASES THE LIQUIDITY AND MAKES TRADE PRICES
CLOSER TOGETHER AND THEREFORE EASIER TO TRADE
'CLOSE TO THE MARKET'
FOR THE 3rd DAY IN A ROW, GOLD HAS RISEN DRAMATICALLY AT THIS TIME PERIOD, THEN IT PULLS BACK AND EITHER TRENDS SIDEWAYS FOR HOURS OR MOVES DOWN
ADDITIONALLY, GOLD IS VERY NEAR THE PSYCHOLOGICAL
RESISTANCE AREA OF $1200, SO BE VERY CAREFUL
OF A LARGE PULLBACK ON PROFIT TAKING
AND USE THAT PULL BACK TO BUY IN
ABOVE, ALL...DO NOT CHASE GOLD AT THIS LEVEL
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