Net long open interest in gold is near record levels, buoyed by CHinese demand. US $ bulls hard to find. GOLD could correct to its 20 DMA and be bullish....some sort of correction there would seem nearby.
Lots of AM data released at 8:30, and FRI brings unemployment rate release.
We'll see if market has enough strength to breakout of sideways trend.
D
3 comments:
Hi you should have everyone read this excellent post on the coming stock correction. It is a wondefull example of your work.
I tell everyone to get out of stocks and gold and they laugh at me. I expect to have the last laugh. Gold is a bubble, that I think bursts today or tomorrow. There is a special gold tun date today. Stay well.
http://contrarianadvisor.blogspot.com/2009/11/coming-stock-correction.html
Gold will continue to rally as the US keeps printing more and more $$$, the bubble is in debt/bonds stocks are along for the ride but the carpet can be pulled at any time by GS and their frequency trading programs...
Beware the double dip recession and its cause will be fiscal and tied to US unemployment problems that have no solution since the US has become basically a non productive nation of money changes and banking crooks playing the dollar catty trade, good luck!
Hi, I am new at this. I look at chart of US Dollar. How much lower will it go?
There is an article here, a good one, how being a contrarian is far more profitable than being in the crowd.
I do wish you well.
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