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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (59918)	1/14/2010 5:56:41 PM
From: TobagoJack	Read Replies (1) \| Respond to of 218540

just in in-tray By: Rick Ackerman, Rick's Picks January 14 Forget the Pundits …Lo, buyers flooded into the market for no apparent reason and turned the tide, racking up a $27 gain into the close. We were mystified by this until we heard from our friend and longtime subscriber Jonathan Auerbach of Auerbach Grayson. Here’s his account, right from ringside: "For background, I have a COMEX seat and regularly trade gold. So this morning I want to share with you my morning gold notes over what I believe was a prodigious confrontation yesterday in the pits. Don’t waste your time this morning reading the pundits on where gold is going. Yesterday was an epic battle in the pits between good and evil, bulls and bears, bullies and sissies, and ultimately concerted efforts at manipulating markets. The various legions that attacked and counter-attacked over the day turned over 215,000 100 oz contracts -- the equivalent of $25 billion. "Yet, at the end of the day, despite gold being down at one point more than $30 from the earlier daily high, little technical damage occurred and we look forward to seeing final open interest on Friday. The sellers played the knee-jerk card suggested several days ago here -- that the interests of certain parties for a successful [U.S. Treasury] auction would not be met if gold’s recent robust recovery continued. So get yourself a ringside seat for this morning’s thrilla to see if the sellers have the guts (they couldn’t have conviction) to face the buyers who keep getting up. Never forget the Auerbach Doctrine: You can only manipulate a market in the direction it wants to go." news.goldseek.com