GOLD HAS BEEN TRADING SIDEWAYS IN A RANGE
SINCE LAST THURSDAY
Tuesday, January 26, 2010
GOLD MAY SELL OFF SOON AS WE APPROACH THE CRIIMEX CLOSE
THIS HAS BEEN A FAIRLY LIGHT VOLUME DAY DESPITE
THE NICE RUN UP. PROFIT TAKING WILL TAKE GOLD
DOWN
GOLD MAY BEGIN ITS PULL BACK AND TAKE IT ALL BACK BEFORE THE CRIMEX CLOSE
IF YOU HAVE PROFITS IN FEB GOLD, YOU SHOULD
TAKE THEM NOW WHILE YOU HAVE THEM THEN
MOVE TO APRIL GOLD.....NOW
OPEN INTEREST FOR FEB 2010 GOLD = 146K, OI FOR APRIL 2010 GOLD= 196K
APRIL GOLD ALREADY HAS MORE OPEN INTEREST THAN FEB GOLD
WHICH MEANS THE LIQUIDITY IS MOVING TO APRIL MORE
EVERY MINUTE
WHICH MEANS THE LIQUIDITY IS MOVING TO APRIL MORE
EVERY MINUTE
GOLD PULLS BACK, THEN MOVES UP ONE TICK HIGHER AND NEARER THE 75% RETRACE POINT AT 1099.30
GOLD COULD GO HIGHER, BUT I'M NOT BETTING ON
IT.
I'M OUT OF MY FEB2010GOLD CONTRACTS AND WILL
BE QUOTING APRIL 2010 GOLD FROM HERE ON AS
FRIDAY THE 29TH YOU HAVE TO BE OUT OF YOUR
FEB CONTRACTS ON FIRST NOTICE DAY. THE FEB
CONTRACT WILL STILL HAVE THE MOST LIQUIDITY
UNTIL THEN, BUT WILL CHANGE NEXT MONDAY TO
THE APRIL CONTRACT
EURO, STOCKS, OIL ALL PULLING BACK AFTER THEIR RALLIES, GOLD TOO
GOLD WILL TURN BACK UP FROM ONE OF THE 75%
RETRACE POINTS, WE JUST DON'T KNOW WHICH ONE YET
STOCKS MOVING DOWN ON THE OPEN, EURO MOVING DOWN, GOLD CONSOLIDATING ON ITS NEW HIGH
GOLD SHOULD PULL BACK WITH FALLILNG STOCKS
AND EURO AND A HIGHER DOLLAR
GOLD MAKES SLIGHTLY LOWER LOWS, THEN SPRINGS UP ON GOOD VOLUME $2
OIL PLUNGES BUT NOW RISING
EURO RISES BUT NOW BACKING DOWN
STOCKS STOPPED FALLING BUT NOT TURNING UP MUCH YET
GOLD FALLING BACK FROM ITS LITTLE RALLY
EURO ON ITS LOWS, DOLLAR HIGHER, STOCKS OFF 30 POINTS
THIS HAS TO DO WITH THE CHINESE REVALUING THE YEN
AND/OR TIGHTENING THEIR RESERVE REQUIREMENT FOR THEIR BANKS
WHICH REDUCES LENDING TO COOL DOWN THEIR ECONOMY
WHICH IS HOT
AND/OR TIGHTENING THEIR RESERVE REQUIREMENT FOR THEIR BANKS
WHICH REDUCES LENDING TO COOL DOWN THEIR ECONOMY
WHICH IS HOT
GOLD DROPS BACK AS STOCKS, OIL, EURO TURN DOWN
GOLD SHOULD RETEST THE LOW, MAYBE QUICKLY
DROP A LITTLE LOWER TO PICK UP SOME LIMIT ORDERS
BELOW THE LOW, THEN MOVE BACK UP QUICKLY AND
MAYBE MOVE HIGHER IN STEPS
GOLD MAY MOVE HIGHER FROM HERE BUT SHOULD FIRST RETEST THE LOWS
STOCKS, EURO, OIL HAVE TURNED UP A BIT
GOLD UP VOLUME IS VERY LIGHT HERE
GOLD UP VOLUME IS VERY LIGHT HERE
GOLD DROPS FAST AHEAD OF THE CRIMEX OPEN
A QUICK HIT OF 325 CONTACTS TAKE GOLD DOWN
PROBABLY A MARKET SELL ORDER
TODAY'S REPORTS
CASE-SHILLER HOME PRICES AT 7AM EASTERN
CONSUMER CONFIDENCE AT 10AM EASTERN
FHFA HOME PRICES AT 10AM EASTERN
CONSUMER CONFIDENCE AT 10AM EASTERN
FHFA HOME PRICES AT 10AM EASTERN
GOLD PULLS BACK JUST AHEAD OF THE CRIMEX OPEN
I WOULD THINK GOLD WOULD GET HIT SOME MORE
ON THE OPENING.
READ DAN NORCINI'S COMMENTS AT JSMINESET.COM
ON HIS CHART OF THE DAY
AS USUAL, WITHIN SECONDS OF A POST, WHAT I PREDICT...HAPPENS
GOLD DROPPED WITHIN SECONDS OF THE PREVIOUS POST
GOLD IS EITHER BUILDING A BOTTOME HERE, OR A LEDGE TO FALL FROM...I SAY IT'S A LEDGE
DOLLAR HAS CLIMBED
EURO HAS FALLEN
GOLD IS WEAK AND PROBABLY GOING LOWER
SEE DAN NORCINI'S CHART COMMENTS AT JSMINESET.COM
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