Options
gold down almost $50
secondrepublic
Posts: 2,619 ✭✭✭
another few weeks of this and they'll be giving the stuff away 
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
0
Comments
Glen
Deflation.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
roadrunner
Buy the dip if you can find any
<< <i>picked up 8 oz w/ the funds from all the 90% I sold last week >>
<< <i>Note that GLD volume was less than half of the volume today compared to the 12/4/09 cliff dive. Both were similarly sized drops. Volume today, while large, was smaller than a dozen other days of the past 7 months. We need a little more volume here......or cowbell. Ciga Eric D. noted that we're at the gap down point from the 12/4/09 drop: $1195-$1205. Offers some resistance, for now at least.
roadrunner >>
Volume was not huge today, but it was about 2x the 30 day average. Breaks of rising wedges are rarely pretty. GLD will test the 111-113 area. Problem is my momo indicator is very high and just starting to turn lower. This is a 2 month + indicator. Gold gonna be weak--at a minimum flat--for awhile. Unfortunately I think it needs a goods flushing.
Knowledge is the enemy of fear
The HGSI fell from the upper 30's down to 23 yesterday. These levels tend to indicate that gold is closer to starting a new move or finishing the last one than it is to just having been washed out for a few months.
You'll have to add the "t" back in to "watch" in the link for it to work......our forum secret word police at work.
roadrunner