2 replies to this topic

[Cirrus]

It's breaking down today...signalling a stingy Fed is ahead for now. The markets don't like it one bit.

[PorkLoin]

Tim, what's been going on for the last 15 months? A big consolidation, right? Ultimately bullish, eh? Good grief - whatever it is, it's getting pretty complex.

I could easily see us going on down to try the March lows in some or most of the stock indices. If we are still long-term bullish in gold and the XAU and HUI, a downdraft, like to 120 or below, perhaps, in the XAU, would squash a lot of bullish sentiment, setting things up as markets are often wont to do. This whole year I've been wondering about it, and looking for such a downmove.

I used to trade gold futures, and so many times it'd make a spikey low, not giving much time at all to get onboard long for the coming nice move up. We've got a big horizontal consolidation here in the XAU, and whichever way it chooses to go, we could be in for some big volatility.

Scratching my head....

Doug

[Cirrus]

Doug, You may get that right. The only gold holding I won't sell unless there's a dramatic change is my ABX Jan 09 and 2010 calls. I liquidated some gold positions today--just in case.