Monday, October 13, 2008
4:55AM PDST GOOD MORNING GOLD BUGS!
NO REPORTS TODAY Not much to do in the markets until some type of certainty is announced in regards to the "plan" the G7 meeting produced. So far, the U.S. CNBC talking boobs sound like a gossip session in high school. Gold sold off some just before 5:00am pdst, as usual, but this time I think it's more just some traders who are afraid of what will happen on the day session open, because gold didn't move up strongly over night. I put a spread on my long position in Dec Comex gold with a short Feb09 position locking me in where I am until this market decides what it wants to do. I got creamed holding on to my longs on Friday, but the loss is only on paper so far. Gold WILL be back up, and probably dramatically. Everything I read and share with you folks, says the gold shorts/manipulators HAVE to get destroyed eventually. But they are very smart and well practiced crooks and know how to make money in either direction, as they profit when they cover their shorts when they drive the market down and blow out all the weak longs, then they turn around and scoop up either futures long, or cash gold at the bottom and profit from that too. You just have to trade with them, or around them. Japan markets are closed today and some of our markets are too, so trading can be either slow and weak, or make large moves on light volume. Gold was moving in a large range over night on very light volume... Thirty dollars range from top to bottom isn't chicken feed. I may have to catch up on some sleep early today as I was watching the market every hour all last night and will probably start to get dingy in a few hours. It's a good day to not worry about too much as it's all going to do what it has to do anyway and will be getting much crazier for the rest of the week. Might be a good day to read the article posted below on the German Hyperinflation to get a feel of what we are going to go through, but with modern tools, like the internet, IF we can keep them running and don't go into a total fascist dictatorship, which is very likely.