Tuesday, August 12, 2008

8:28AM PDST

Gold has pulled back about 61.6% of this morning's move up to 83360 and is now moving lower in the down flag allowing profit takers to take their money home, and allow new buyers to move in to gold. This is all normal trading behavior and is moving gradually instead of violently, which is good. Trading volumes HOURLY have been in the 20,000 range since 5AM PDST both up and down This is fairly LARGE VOLUME compared to past history, but is going to become AVERAGE VOLUME from now on. Dollar moved down to .7614 but has moved back up to .7644 no rational reasons for its movement at all except for PPT and Central Bank intervention Euro is moving down again Oil has dipped into the 112s, back up to the 116s, and back down to the 112s at present It should be roaring way up given the Russia/Georgia situation and its oil pipline... but of course, nothing makes sense any more. Dow has been moving down since the open Bonds in the 116s

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