Monday, August 4, 2008

DOLLAR DOWN...GOLD UP 7:30AM PDST

Things are moving so fast today I can barely get a chart or a comment out before its all old news. Dollar is down from its highs Gold is doing a nice run back up after this morning's sell off Oil is flying up and down on various rumors and facts.. but at the moment is back up near its high for the morning. Euro is moving back up. Dow is taking it in the shorts again... Bonds, after leveling off in the 115-116 area took a dip this morning and then turned around and shot right back up to the 116s again...a very wild and basically un-tradeable market... unless you're standing in the pits...a complete roulette wheel.. that should ultimately crash driving long term interest rates through the roof.. Remember, interest rates are "the price of money"... When money is losing its value...people who lend it want MORE OF IT to compensate for the loss of its value! gold is doing a little normal pull back here and will reverse and continue even higher as it reaches up to hit the 75% retrace point at 91980

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