What I see LT chart /yg. If green cracks they could tale it all the way to LT pink support near 800. Crazy bastards may just do it. It’s insanely cheep now IMHO.
Agreed… I wouldn’t want to bet either way on gold right now. The flash crash low could have been to hit all the bulls’ stops right before they scream it higher in a huge rally. Or, they could turn it back down and tank it again? I don’t know which one will happen?
I see gold critical level LT support at 1105 with possible double bottom dead cat bounce from this level. Problem is this is the most manipulated commod on the planet. No telling what they want. = very dangerous. Either way need to stack phys at any cost while it is still available.
Might not make it up that high though Shanky? Looks more likely to chop sideways all day until the close and make a bear flag. That would imply another drop tomorrow morning if the bear flag plays out? Be nice if it rallies up to meet that trendline though, as it would be the best shorting spot I think.
I don’t think we’ll see 800 area on gold Shanky but this old FP from 2010 could be in play?http://reddragonleo.com/wp-content/uploads/2010/10/gold-fp-of-939-on-10-14-2010.jpg
TVIX update… “stop clearing?” http://screencast.com/t/THDETfVg72a
What I see LT chart /yg. If green cracks they could tale it all the way to LT pink support near 800. Crazy bastards may just do it. It’s insanely cheep now IMHO.
Agreed… I wouldn’t want to bet either way on gold right now. The flash crash low could have been to hit all the bulls’ stops right before they scream it higher in a huge rally. Or, they could turn it back down and tank it again? I don’t know which one will happen?
Which direction is the “REAL” direction for gold? http://screencast.com/t/lWqsrMl2I
I see gold critical level LT support at 1105 with possible double bottom dead cat bounce from this level. Problem is this is the most manipulated commod on the planet. No telling what they want. = very dangerous. Either way need to stack phys at any cost while it is still available.
Might not make it up that high though Shanky? Looks more likely to chop sideways all day until the close and make a bear flag. That would imply another drop tomorrow morning if the bear flag plays out? Be nice if it rallies up to meet that trendline though, as it would be the best shorting spot I think.
Well done my friend. This got linked on my page.
SPX update: http://screencast.com/t/n70kv8TzbPT
Did anyone see any FP’s out on Gold before the flash crash this morning?