Posted a few weeks ago when we hit Gold 1200, that I would not be long here before a pullback. Since that we have gotten our pullback and Gold is now trading around 1096. I think the important number is 1076 BUT it is possible that we could retrace back to 1045 area before we continue higher.
These last day of the year movements are usually just window dressing and tax related trades. Remember last year what happened, we made our usual January effect movement then we had that awful drop beginning in Feb to the March lows. This time we are above those relative levels but I would be looking for the same pattern to mirror itself during the same time period.
Monday, December 21, 2009
Holiday week
Folks remember this week is done a matter of fact the year for most. It will be easy for the manipulators to push around stuff as this week is a 3 1/2 day week and added to the fact that most firms have said they are protecting their profits since summer and are virtually out of the market since September for the rest of the year.
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