Gold is screaming "Short Squeeze".....Now we get to see just how short Goldman and JP really are. With a 15.00 rise in one week,,,300.00 per ounce could be very near.
Come 'n listen to my story 'bout a man named Jed
Poor Mountaineer barely kept his family fed
An' then one day, he was shootin' at some food,
An' up thru the ground came a bubblin' crude.
Oil that is! Black gold! Texas tea!
Well, the first thing ya know, Jed's a millionaire
Kin-folk said, "Jed, move away from there." Said
Californy is the place y'oughta be, so they
loaded up the truck, and they moved to Beverly.
Hills that is! Swimmin' pools, Movie stars!
Ol' Jed bought a mansion. Lawdy it was swank
Next door neighbor was pres'dent of the bank,
Lotsa folks objected, but the banker found no fault,
'Cause ol' Jed's millions was a-layin' in the vault
Cash, that is! Capital gains, Depletion money!
Well now it's time to say goodbye to Jed and all his kin
An' they would like to thank you folks fer kindly droppin' in.
You're all invited back again to this locality,
T'have a heapin' helpin' of their hospitality.
Hillbilly, that is! Set a spell, Take your shoes off!
Y'all come back, here!
Futures expire shortly next week. Gold rally needs to continue past Sept 29. Buying spot in a weak market to cover futures need not an extended rally create. All futures written around Aug 13 are still profitable for Sept 28 expirations. Gold is slightly over valued as far as currencies go now. Which suggests that the rally SHOULD be over on Tuesday if not earlier.
nymex.com
From hear on in, you are walking the tightrope.
Hutch. |
