969 COULD BE THE HEAD OF AN INVERSE H&S PATTERN YET TO DEVELOP ITS RIGHT SHOULDER, RESOLVES DOWN

I don't think this will happen, but I've been screwed many

times in the last five years putting my faith in Sinclair

predictions, even though I think this time he's right.

The BIG QUESTION is WHEN gold is going to take off.

It usually happens after the summer, in NORMAL times.

Times are NOT normal anymore and we are running out of

time, money and jobs to keep this economy from imploding.

GOLD TRADING AFTER THE JOBS REPORT

Jobless claims go up by 30,000 to 554,000 (what the

guv'mint is willing to report!), so gold goes up, then right

back down as the Crimex shorts pound any rally into the dirt.

This is the 'thrashing around' part of the open. Let it all

settle down before taking any position. This is all happening

on very light volume and roll overs into October gold only

complicate things even more.

DAILY CHART OF THE EURO

THE EURO SHOULD CONTINUE HIGHER

THE CRIMEX OPEN

PRE-OPEN RALLY ON LIGHT VOLUME

T BONDS IN A LONG DOWN FLAG WHICH USUALLY RESOLVES UP

HOWEVER, THE BOND MARKET IS HEADED FOR A
COLLAPSE. IT IS NOT WORTH TRADING. JUST USE
IT AS AN INDICATOR MARKET TO LET YOU KNOW
WHERE INTEREST RATES ARE HEADED AS A TIP
ON WHERE GOLD WILL MOVE IN RELATION TO
WHAT INTEREST RATES ARE DOING.
HIGH INTEREST RATES ARE NO GOOD FOR THE ECONOMY.
A BAD ECONOMY WILL MAKE GOLD MOVE HIGHER AS
PEOPLE BUY IT AS A SAFE HAVEN.

OIL MOVES DOWN, EURO TURNING UP, DOLLAR RISING A BIT, BONDS RISING , DOW UP 40

The headline comments refer only to the shortest of trends,

meaning one minute to five minute movements which

tell me where markets seem to be heading for the moment.

Things change in a flash and I report them as fast as possible.

GOLD AT 5AM PDST

Gold may have an initial rally which will be sold off

immediately. Then it will thrash around until the reports

come out on the half hour.

TWO REPORTS THIS MORNING

EXPORT SALES
JOBLESS CLAIMS
Both at 5:30am pdst

Jobs report will move the market, but NOT in
a predictable manner.
Best to stay away from trading the first half hour
of trading, ESPECIALLY if you are a trader starved
for ACTION.
That is the main sign you are a GAMBLER and not a trader.

DOLLAR HOURLY CHART

15 MINUTE CHART ABOVE
Dollar is trading in a tight range near its lows on a ledge
from which it will eventually fall to its death

GOLD MAKES ANOTHER NEW HIGH IN THE EARLY MORNING HOURS AND QUICKLY SELLS IT OFF INTO THE CRIMEX SESSION

Wait for a big sell off during the Crimex session, DON'T

OVER MARGIN!, then stay up all night and sell it at the

high during the overnight session. This market is way too

erratic during the Crimex session to trade October contracts

until it becomes the front month after next week when the

August contract expires on Friday the 31st. The August

contract is simply not worth day trading considering the

RISK of getting trapped upside down in a trade and being

FORCED to liquidate when the contract reaches First Notice

in ONE WEEK.

TODAY'S GOLD TRADING

2:15PM PDST AFTERNOON GOLD CLOSE

THE LARGER PICTURE OF SHOWING GOLD ABOUT TO MOVE MUCH HIGHER

THIS MAJOR YELLOW DOWNTREND CHANNEL WILL RESOLVE UPWARDS VERY SOON TAKING GOLD TO, AND ABOVE, $1000

The PINK downtrend channel is the ORIGINAL channel

that was broken above on 7/14

The top yellow line is based on today's high and the Intermediate

high at 9921. This downtrend line has already been exceeded

many times, based on earlier highs that have been surpassed,

as gold has been rising, and is only the latest version

of it as recent highs keep getting higher. I only put it in

to show you the most major downtrend channel so you can

see that gold has been pushing higher since the low at 9048

made over a week ago

GOLD IS DRIBBLING AWAY IN AFTERNOON TRADING, EXPECT HIGHER GOLD OVERNIGHT, BUT A SELL OFF BEFORE THE CRIMEX OPEN TOMORROW

GOLD FALLS THROUGH THE WHITE UPTREND LINE, MAY GO DOWN TO 94840 (75%)

RED DOWN FLAG SHOULD RESOLVE HIGHER SOON AS DOLLAR COLLAPSES

DOLLAR DROPS EVEN FURTHER

DOLLAR SLIPS LOWER AGAIN

JUST BEFORE THE CRIMEX CLOSE

DOLLAR DOWN TO .7876, EURO STILL RISING ON ITS HIGHS

GOLD MAY RISE INTO THE CRIMEX CLOSE OR AFTER

IT IN AFTERNOON TRADING

DOLLAR STILL DROPPING, GOLD SHOULD RISE

DOLLAR HITS ANOTHER LOW AT .7873

DOLLAR PLUMMETS, GOLD SHOULD SPIKE HIGHER AFTER THIS PULLBACK

ONE HOUR CHART FOR PERSPECTIVE

GOLD PULLS BACK TO THE YELLOW DOWNTREND TOP LINE JUST EXCEEDED, MAY FIND SUPPORT THERE

GOLD IS TESTING THE TOP AND SHOULD BREAK THROUGH SOON

GOLD ABOUT TO SPIKE

GOLD CONSOLIDATING IN THE NEW RED DOWN FLAG...IS A SPIKE COMING?

GOLD COULD SPIKE TO 97030 (75%) OF THE ENTIRE MAJOR DOWN LEG FROM 99210

GOLD RISING AGAIN, COULD SPIKE HIGHER

GOLD IS CONSOLIDATING WITHIN THE RED DOWN FLAG AND SHOULD RESOLVE UP

GOLD PULLS BACK TO THE BOTTOM RED DOWN FLAG TRENDLINE

DOLLAR DROPPING AGAIN