Tuesday, September 2, 2008
11:40AM PDST TUESDAY 9/2/08
Today things moved very fast even before the day session opening so I couldn't post these comments, but relied on the charts to convey the message.
Gold stayed remarkably strong after the early sell off and I fully expected it to retest the low of the day as gold almost always does by rallying off of it a short distance, then falls back to it a couple of times, then goes below it quickly to snag a few market sell orders placed by beginners, then comes back to finally rally with certainty.
But like always, gold did what it wanted, not what I expected it to do, even though it's done it a thousand times before.
So gold rallied even though the dollar stayed strong, the euro was weak and oil sold off from the manipulated highs we have become used to even though oil production has been curtailed during Gustav's time over the oil rigs.
These markets are so manipulated now that it's a wonder that anyone can trade anything at all.
The only thing left to do is buy your pms at every low you see and hang on for the destruction of our economy, and therefore our way of life, in the near future.
The only reason there is any slack left in the system is because the derivatives still on the books of these large institutions, and in the hands of various levels of investors, is because they have NOT BEEN MARKED TO MARKET, and are still being valued BY MODEL or held in accounting areas that keep them off the balance sheet.
It's only a matter of time.
Meanwhile the BIGGIES are driving PMs down while making money in everything else they can manipulate and then taking those profits to scoop up all the cheap price gold they have also managed to depress.
When they have it all, they will let Pandora out of her box once again...
and people will die in the World Wide Economic Collapse that will result.
As always, the rich will prosper, and the serfs will perish...
Gold is nearing the period where it looks like it will never go back up, only to explode to the upside for the rest of the year.
DON'T BE FOOLED AND SELL OUT AT THE BOTTOM!
Because this is going to be your last chance to acquire PMs at this level ever again!