isopatch,
Just got in from work, thanks for the notice of the dollar call. Perhaps that will cover the st gold stock call (buzzer, bring out the hook, ggg). OTOH, the sharp sell off toward end of day in the POG was part of what I expected. Needless to say, I put out some low ball bids and got filled on RGLD near day lows; being wrong st never keeps me from doing the right thing, ggg. BTW, if this is confusing to any, yes I did sell RGLD in the high fives when it looked certain it would break down. My calls are for entertainment purposes only, I'm not anyones broker or financial analyst, I do a lot of trading and sometimes I forget to mention all my trades. Matter of fact I don't have the time to mention all my trades! Matter of fact I will NOT mention all my trades, already have enough mm's and specialist shadowing my trades, which I find quite ridiculous for a pipsqueak account like mine.
Anyway, back to the subject of POG, reaction on Monday-Wednesday, in face of the BOE sale, may give us some indication of how close the breakout is, but I would not be surprised by delayed reactions or one we have to read between the lines on. There will be a lot of shenanigans going on as the 'shenanaganizers' get more desperate.
Without reading any news or any posts except the one I am replying to and just a quick glance at some charts and following the PM stocks furtively, catch as catch can at work today, I will hazard a guess as to the action at the close today. I'd say the gold traders did not want to be exposed to any surprise moves by Greenspam and friends over the weekend or early next week and squared what they could.
A quick glance at the foreign markets reveals that Hong Kong HSI has broken its Major Trendline tonight, going all the way back to 1982! I mentioned the measurement once before, its to scarey to do so again. I don't have a chart good enough to show any farther back, but I don't believe this line has been penetrated since 1988, though it was touched in 98. A LOT of world indexes are either on the verge of breaking through or have broken through major uptrendlines:
bigcharts.marketwatch.com
Hence, I am expecting a Save the World move before these indexes close twice below these trendlines and such actions are not beneficial to gold usually. That's very short term however, they are on the verge of losing control of the Yellow Dog, he's about to slip his choker collar. And I'm not sure Greenspam has enough Little Italian Carbucks for this one, as in Saving the Whole World and not Buying IT!?
Best Regards,
Roebear |
