Friday, February 20, 2009

6:03AM PST BONDS MOVING UP, DOW AND OIL DOWN, YEN AND EURO DOWN

DOLLAR HITS .8829 CNBC IS SAYING GOLD IS NEAR $1000...IT'S NOMINAL HIGH! IT'S BEEN HIGHER THAN THAT ON THE APRIL09 CONTRACT BY $50 BUT THEY ARE PROBABLY TALKING ABOUT SPOT GOLD ACCORDING TO MY DATA GOLD JUST HITS $1000.30 AND DROPS TO 997 THEN RISES AGAIN THIS IS AN EMOTIONAL LEVEL FOR MANY PEOPLE AS THEY DON'T WANT TO GET LEFT BEHIND AND LOSE THE VALUE OF THEIR PAPER ASSETS, BUT THIS IS WHERE MANY WILL BUY ON MARGIN AND GET CREAMED WHEN THE PROS DROP THE MARKET ONLY TO RUN IT BACK UP AGAIN!

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