Red

Gold has made a bullish close on Friday. Unless it trades below 1814 bulls of gold should be fine in the short term.

   This is some new stuff for me.  Can you gimme the chickensoup version of why YOU are bearish at this point on Gold?  I am because of my forex calibrator(an instrument that is harmonically calibrated to sense the vibratory directions of the markets). 

S&P 500 Weekend update: http://niftychartsandpatterns.blogspot.com/2011/08/s-500-weekend-update_28.html

Yes, I’m afraid I have taken a small short position in Gold (using DGZ).

I still remain very long in physical gold (coins, for me).

Clear direction on gold
Channel of Doom
Egg of Doom
http://oahutrading.blogspot.com/

Lagarde, a former French finance minister who took the helm
at the Washington-based IMF in July, said recapitalization
should be “substantial” and called a mandatory move “the most
efficient solution.” Banks should look for funds in the markets
first and seek public money if necessary, including from the
European bailout fund, she said. 
http://www.bloomberg.com/news/2011-08-27/lagarde-urges-mandatory-recapitalization-of-eu-banks-to-avert-contagion.html

NYC hurricane coming right when the tide is at its highest—makes the storm surge that much higher…some coincidence.

might be a double reason gap down, NYC and Europe woes resurfacing ..and yes i think the hurricane was planned out—

MSFT Buy signal: http://niftychartsandpatterns.blogspot.com/2011/08/msft-buy-signal.html

I remained flat going into the weekend though, as I can’t trade off a “what if”… but I’m sure I’ll be kicking myself if the market gaps down hard on Monday!  LOL.  I don’t think it will though as I think there is a little more on the upside left before we roll back over again.  If we could get a nice gap up, I think it will fall back down like a rock.  Gap and Crap… that’s what I’d like to see!