Monday, August 25, 2008

8:22AM PDST GOOD MID-MORNING GOLD BUGS!

Yes, I'm still alive...just very tired again. I woke up with the alarm, battled with the snooze button, and won the battle. I didn't miss much, except for the usual opening selloff, followed by a ten dollar rally, which then sold off even lower. Gold is now trading sideways in a seven dollar range between 823 and 830, for the moment. Good for trading, but very risky for those who don't understand gold trading. There is no discernible pattern, in the short term, that anyone but a seasoned trader could recogize, but it's there, and it's the old up and down 75% movement that happens all day everyday in gold. If the range is wide enough for a reasonable profit (versus risk to get it), and you are willing to take the risk, there is lots of money to be made. But just one slip, and it's all gone, plus some. More, after I review what I now have to now loosely term "the markets" (more like roulette wheels/1)