Wednesday, November 4, 2009
GOLD TRADING VERY CAUTIOUSLY
THIS LITTLE BLUE UPTREND CHANNEL COULD COLLAPSE
AT ANY TIME IF GOLD DOESN'T START TO MOVE
HIGHER MORE STRONGLY. PROFIT TAKERS WILL
MOVE IN
GOLD FALLING MORE, COULD PLUMMET AS UP ACTION IS NOT THERE AFTER SUCH A BIG RISE YESTERDAY
GOLD ROSE ON OKAY VOLUME BUT STALLED WAY
TOO FAST
THIS LITTLE RALLY OFF THE LOW IS BUILDING BUT
IS NOT STRONG ENOUGH FOR ME TO BUY. IT COULD
FAIL AND GOLD COULD MOVE LOWER QUICKLY
GOLD FALLING, STOCKS, OIL, EURO TURN DOWN, YEN UP. BONDS QUIET
THIS COULD BE THE SELLOFF BEFORE ANOTHER
SPIKE UP, BUT WAIT TO SEE HOW DEEP THE SELLOFF
CAN GO. GOLD IS STILL TOO CLOSE TO THE TOP TO
TAKE MUCH RISK
GOLD CONSOLIDATING, DID NOT FOLLOW EURO, STOCKS, OIL HIGHER...VERY SUSPICIOUS
GOLD NEEDS TO PULL BACK TO MAKE IT WORTH RISKING
BUYING IN THIS CLOSE TO THE TOP
A DIP WILL COME.
GOLD IS VERY CLOSE TO $1,100 WHICH IS A PSYCHOLOGICAL
RESISTANCE POINT.
IT SHOULD RISE TO THAT POINT, MAYBE GO PAST IT A BIT,
THEN PULL BACK ON PROFIT TAKING AND SHORT BASHING
BE CAREFUL HERE, WEIRD TRADING, STOCKS, OIL, EUUOR UP BUT STALLING, BONDS DOWN, DOLLAR OFF ON ADP REPORT
THIS COULD BE A TRAP FOR THE LONGS JUST BEFORE
GOLD GETS DROPPED
DO NOT CHASE GOLD, WAIT FOR A BIG DIP TO BUY IN
GOLD MOVES UP CAREFULLY ON GOOD VOLUME AT THE OPEN
GOLD COULD GET BASHED HERE BASED ON THE
OPENING ACTION
ALERT: FOMC REPORT TODAY AT 2:15PM EASTERN TIME
THE MARKETS CAN GO CRAZY WHEN THE REPORT COMES OUT
AND CAN MOVE UP AND DOWN MANY DOLLARS IN SECONDS.
DO NOT TRADE THIS UNLESS YOU HAVE A DEATH WISH, OR
A LOT OF MONEY YOU CAN AFFORD TO LOSE.
AND CAN MOVE UP AND DOWN MANY DOLLARS IN SECONDS.
DO NOT TRADE THIS UNLESS YOU HAVE A DEATH WISH, OR
A LOT OF MONEY YOU CAN AFFORD TO LOSE.
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