Thursday, September 17, 2009

GOLD TRADING BETWEEN THE BLUE AND WHITE TRENDLINES


AT LEAST THE WHITE UPTREND LINE IS SUPPORTING GOLD HIGHER, BUT IT HAS TO BREAK
THROUGH THE LONGER TERM, MORE DOMINANT, BLUE DOWNTREND LINE AND MOVE UP

15 MINUTE DECEMBER DOLLAR CHART (delayed prices)


DOLLAR STAYING NEAR ITS LOWS AND SHOULD SUPPORT HIGHER GOLD
BUT THE MANIPULATORS ARE THE ONLY THING KEEPING GOLD FROM EXPLODING RIGHT NOW

GOLD MOVES UP TO THE TOP BLUE DOWNTREND LINE IN EVENING TRADING


At least gold is now moving back up after being bashed most of the day
by the shorts who are desperate to keep gold from moving higher...
WHICH IT WILL ANYWAY...NO MATTER HOW LONG THEY FIGHT IT!
IN FACT, IT WILL GO EVEN HIGHER THAN IF THEY HAD NOT TRIED TO KEEP IT FROM RISING
TO IT'S NATURAL LEVEL.

GOLD MOVING BACK UP GRADUALLY



JUST RESTED MY EYES FOR A MINUTE AND WOKE UP AFTER THE CLOSE. AS YOU CAN SEE,
I'VE CHANGED MY SCHEDULE. I STAY UP ALL NIGHT TO MONITOR OVERNIGHT GOLD THROUGH
THE CRIMEX SESSION. I SLEEP A FEW HOURS IN THE LATE MORNING OR EARLY AFTERNOON.
IT ALL STARTS TO CATCH UP WITH ME AROUND TODAY AND BY FRIDAY I'M DING BATS AND WIND
UP SLEEPING ALL DAY SATURDAY AND MAYBE SUNDAY TO RECOVER.

STOCKS, OIL, EURO ALL STILL MOVING UP, GOLD RISING AGAIN



DOLLAR IS BACK UP ON PPT INTERVENTION, BUT GOLD WON'T CARE
BECAUSE EVERYONE WHO TRADES GOLD KNOWS THE DOLLAR IS DEAD
AND THE PPT IS NOW PLAYING A LOSING GAME

GOLD CLIMBING UP NICELY TO THE 75% RETRACE POINT AT 1018., MAY PULL BACK THERE THEN RALLY MUCH HIGHER


IT CERTAINLY LOOKS LIKE GOLD FOUND A BOTTOM. THAT SHOULD ENCOURAGE
MORE BUYERS TO MOVE IN ON THE SECOND LEG UP

15 MINUTE DECEMBER DOLLAR CHART (delayed prices)


DOLLAR IS SHOWING NO STRENGTH EVEN WITH PPT INTERVENTION AND IS ALREADY BEGINNING
TO SLIP LOWER

ALL MARKETS ARE NEGATIVE FOR HIGHER GOLD RIGHT NOW BUT GOLD IS FIGHTING BACK AND MOVING UP ANYWAY

IT WILL JUST TAKE SOME FIRMNESS HERE TO ENTICE MORE BUYERS
TO MOVE IN AND GOLD WILL TAKE OFF. UP VOLUMES ARE DECENT
AND BUYERS ARE STARTING TO MOVE IN SLOWLY BUT WILL BUILD
AS THE LEMMINGS SEE THE OTHER LEMMIGS JUMP IN.