Thursday, August 7, 2008
7:28 AM PDST
Gold sold off fast down to 87650 Dec
and is now struggling on erratic and lowish volume
to rally
I am now long Dec after lifting the short leg of my hedge in Oct gold
made a little money and now "losing less" in my long leg in Dec gold.
PPT went to afterburners and jacked the Dollar up to .7465
but it faded a touch now at .7461
Oil pulled back into the 119s briefly but is now in the 120s barely.
Dow at 11550s
Bonds at 115.11
Euro at 1.5339 after getting hammered along with gold..
gold now moving up nicely
And a little 50% retrace down to 879 for profit taking after a quick 6 dollar run up
and making a "mini rhino horn" formation which got sold.
But gold gets back on track and booms even higher....
YEA...I DID SOMETHING RIGHT FOR ONCE!
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