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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (4107)

1/11/2014 3:40:45 PM

From: Goose94

Read Replies (1) | Respond to of 203330

Gold: HFT - High Frequency Trading Message 29326311

First Gold Halt of 2014 nanex.net

Proof Gold's Latest Slam Was Not A "Fat Goldfinger" zerohedge.com

Great article illustrating HFT action.
Note that 4200 contracts traded in 1/10 of a second.
Since each contract is 100 ounces, that represents 400,200 ounces of gold worth approximately 500 million USD.

Since gold quickly recovered from the $30 drop, my guess is that some gold programs are looking for entry areas to go long on pullbacks.

Also gold positive for the near term
1. Wednesday's correction bottomed above the flash crash low,
2. Friday's high slightly bettered Monday's high,
3. Friday's close was the highest daily close in a month, and
4. Friday's close was the highest weekly close since the end of November

Gold bulls need some follow through gains next week.