The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: orkrious who wrote (237231)	1/29/2010 5:50:01 PM
From: TH	Read Replies (2) of 306849

Ork, Agree, but I prefer, unbelievably good action in gold given the weakness in miners. Simply amazing that POG was down basically nothing and held/moved-up during the last hour of trading. What does is mean? One guess is that gold was strong because the real driver of the Dollar strength was sovereign debt concerns. And the players while choosing what to buy upon the Euro exit, more or less picked the Dollar AND gold. That is a bit of a change from the last time we saw the Dollar catch a major bid and gold wacked hard (summer 08). Later, when they have the same concerns with the Dollar, they will pick gold over everything else. That day will come. Miners were just hit as the margin pressure picked up. As you told me earlier, the premium for physical in Asia hit 13 months high today. Gold rock trumps paper rock. I'm betting the PPT shows up this weekend. Nothing is gained from having spent the better part of the past 10 months pumping the market to have it unwind and kill the wealth effect. Now that Bennie has four years of job security, Bennie will do what Bennie does. I'm betting next week is up. Maybe not in dramatic fashion, but up none-the-less. GT TH

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