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Re: Gold Tags Last Friday's High and Low In 45 Minutes

By: clo in ROUND | Recommend this post (0)
Fri, 09 Sep 11 11:14 PM | 29 view(s)
Boardmark this board | De's Test Board 		Msg. 34860 of 45651
(This msg. is a reply to 34852 by Decomposed)
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Decomp,

When the market dives like this, I think many need to sell their best in order to cover their worse.
Bet there's a lot of margin pressure involved.

Plus, its Friday, before the 911 anniversary with "threats" in the air.
Makes for a perfect storm, heck its the season for "storms"! clo




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DO SOMETHING!


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Re: Gold Tags Last Friday's High and Low In 45 Minutes
By: Decomposed in ROUND
Fri, 09 Sep 11 5:58 PM 		Msg. 34852 of 45651

So at 6:55, gold had lost $50. But now it's back to about where it was last night!

I'm going to do some waffling - because I know I've predicted $2,000 gold THIS YEAR. But I also think a sizeable pullback is due. Hey, both can happen. 2011 still has almost 4 months left in it.

There's just a lot of volatility in gold right now. No one knows what's going to happen, so it's gyrating like crazy. Gold can't easily climb to $1,900... because it would then either have to pull back and form a very rare triple top, or it would break out to new highs . . . when it is already badly and obviously overbought.

So, that leaves SELLING. IMO, the best bet.


$1,650 gold would not shock anyone.

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